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  • 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%.