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Corporate Tax Rates of 10 ASEAN Countries and the United States (January 2018)
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Indonesia's corporate tax rate is higher than that of other countries in Southeast Asia. Only the Philippines has a higher corporate tax rate than Indonesia. According to Tradingeconomics data, Singapore has the lowest corporate tax rate at 17%.
Next, Brunei Darussalam has the second lowest corporate tax rate at 18.5%, followed by Thailand, Vietnam, and Cambodia at 20% each. Indonesia's corporate tax rate is 25%, the same as Myanmar's. The Philippines has the highest corporate tax rate in ASEAN at 30%.
To enhance competitiveness, the United States government cut its corporate tax rate to 21% at the beginning of this year, down from 35%. This policy was implemented to make US taxes more competitive, thereby encouraging investment and boosting consumer spending.
"Disclosure: This is an AI-generated translation of the original article. We strive for accuracy,
but please note that automated translations may contain errors or slight inconsistencies."