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Competition encourages corporate tax cuts in the OECD

Competition among countries to be attractive to companies continues to encourage the reduction of corporation tax in the OECD, where, although collection has recovered, it is still far from levels before the financial crisis.

Paris, Sep 13 (EFE) .- Competition between countries to be attractive to companies continues to encourage the reduction of corporate tax in the OECD, where, although the collection has been recovered, remains far from pre-crisis levels.

This is one of the conclusions of the report presented today on the tax reforms that were carried out in 2016, when the average rate in the OECD countries stood at 24.7 per cent, far from 32.2 per cent in 2000.

This trend generates concern in the OECD Secretary General, the Mexican Angel Gurría, who considers that it deserves "a careful examination" because "the intensification of competition in corporate tax rates after a period of relative stabilization in the years that followed the crisis poses challenges for governments. "

Spain was one of the countries that have carried out reductions of that tax that taxes the profits of the companies in the last years, passing from 30% to 28% in 2015 and to 25% in 2016.

The most pronounced decrease in recent years was the of the United Kingdom, from 28% in 2008 to 19% this year.

Despite this general movement in OECD countries, corporate tax revenues have increased in terms relative in recent years, after marking a low point in 2009, when they represented 2.6% of the Gross Domestic Product (GDP) of the member countries.

In 2015, this tax had risen to 2.9% of GDP, although still below the 3.6% it was in 2007, before the effects of the crisis were felt.

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