The trends for advanced economies of United Kingdom and United States show differing outcomes, Where UK is visibly declining the corporate tax over the last few years, however, US has recently dropped the corporate tax rates. The policy priority for both, UK and US, has been to increase the competitiveness and attract investors, which is executed via a declining corporate tax rate. In advanced economies, the corporate tax rates are lower than that for individuals to promote investments and job creation. UK and US rank 8th and 2nd respectively in the global competitiveness ranking 2017-18, supporting the fact that declining or lower corporate taxes are seen in highly competitive nations.

For India, the corporate taxes have remained almost stable, implying that the boost to competitiveness has not yet come in from the fiscal policies, which is supplemented by the fact that India ranks 40th in the global competitiveness ranking.

 

Source: KPMG Data
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