- Statutory Tax Rate 25
- 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 25
Statutory Tax Rate
The standard corporate tax rate for companies is 25% (reduced from 27.5% effective 1 January 2019) for the non-commercial company and for small businesses (i.e., businesses which are engaged in manufacturing and construction services and registered with the Small Business Bureau). Commercial companies (i.e., companies that derive 75% of their income from trading of goods, including companies engaged in the business of commission agency, telecommunications, banking, and insurance) are taxed at the rate of 40%.