The Globe and Mail “Report On Business” magazine for this month is sitting on my desk. I love this magazine, not only for the articles but also for its style.
One item that caught my eye was a very well designed graph on page 11, under the title “The taxman cometh”, which outlines annual corporate tax rates in different countries, total number of tax payments, and the hours required to comply.
“Taxes may be inevitable, but they’re certainly not all created equal. A recent study by KPMG compared annual corporate tax rates for several countries. It didn’t take into account any tax credits or other loopholes a company may use (GE, for example, didn’t pay any taxes to Uncle Sam last year). Another study looked at the total time it takes businesses to satisfy the taxman. The amount of aggravation, however, is incalculable. ” Steve Brearton.
Tax comparison article from the gloveadvisor.com.
Other KPMG articles, all 768 as of today.