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  • Statutory Tax Rate 26
  • Surtax Based on Taxable Income 0
  • Surtax Based on Statutory Tax 0
  • Surtax Deductible from Taxable Income 0
  • Statutory Tax Deductable 0
  • Effective Tax Rate 26

Statutory Tax Rate

The standard corporate tax rate is 26%.

Reduced rates apply as follows:

  • 23% for tourism and construction sectors; and
  • 19% for manufacturing companies. Effective 1 January 2022, a reduced rate of 10% applies to qualifying manufacturing companies on profits reinvested in the acquisition of manufacturing equipment or the acquisition of shares or other securities representing at least a 90% participation in the capital of another manufacturing, construction, or service company.