[OPE] KPMG survey of global indirect taxation

http://us.kpmg.com/RutUS_prod/Documents/8/corporate-indirect-tax-survey-2009.pdf

>From Directors and Boards Magazine eBriefing November 2009:

Findings from KPMG's 2009 Corporate and Indirect Tax Rate Survey indicate
that many countries increased their indirect tax rates -- particularly their
VAT or Goods and Services Tax (GST) -- for 2009. The survey also revealed
that the long-term slide in tax rates on company profits came to a halt in
many countries in 2009, with 86 percent of the 116 countries studied holding
their rates at 2008 levels -- such as the United States at 40 percent -- or
in some cases increasing them.

The United States is the only G20 country without a federal VAT or GST and
has one of the world's highest statutory corporate income tax rates. In
Europe, indirect tax rates rose from 19.5 percent for 2008 to 19.8 percent
for 2009 and in Latin America from 15.9 percent in 2008 to 16.2 percent for
2009, according to the KPMG survey. The KPMG survey also indicated that
among Asia-Pacific countries there was a marginal drop in the indirect tax
rate from 10.9 percent in 2008 to 10.8 percent in 2009, primarily due to a
three percent VAT/GST cut in Sri Lanka.

More than 150 countries now have indirect tax systems and many governments
that already have these systems are expanding or considering expanding the
list of goods and services subject to VAT. The KPMG survey shows that in
Latin America, the average corporate tax rate this year was unchanged at
26.9 percent, the first time there has been no change in average rates since
2004. In Europe, average rates stayed at 23.2 percent, the first time in 13
years that they have failed to fall year-on-year, the KPMG survey revealed.
Only in the Asia Pacific region has the average rate this year matched the
cuts of previous years, falling from 28.4 percent in 2008 to 27.5 percent in
2009, according to the KPMG survey.

KPMG International's Corporate and Indirect Tax Rate Survey -- conducted
since 1993 -- now covers 116 countries, including the 30 member countries of
the OECD and the 27 EU countries. This 2009 survey compares corporate
income tax rates as of January 1, 2009 with their equivalent each year back
to 2000. The survey also includes information on VAT or GST in 115
countries, going back six years. Tax professionals from across KPMG's
global network of member firms contributed to the survey.

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Received on Sat Nov 7 04:25:20 2009