Corporate tax rates worldwide continued their upward trajectory in 2024 as countries focused on raising their tax revenues to fund increased public spending, according to a new OECD report.
Countries boosted their standard rate of corporate tax more often than cutting rates in 2024, the Organization for Economic Cooperation and Development said in its 10th annual Tax Policy Reforms report. That continued a trend started last year when corporate tax rates reversed years of decline.
Countries continued to introduce legislation in 2024 to comply with global minimum tax rules, which are still being negotiated, the report noted. The global ...