In 1980, corporate tax rates around the world averaged 40.38 percent, and 46.67 percent when weighted by GDP. Since then countries have recognized the impact that high corporate tax rates have on business investment decisions so that in 2019, the average is now 24.18 percent, and 26.30 when weighted by GDP, for 176 separate tax jurisdictions.
Declines have been seen in every major region of the world including in the largest economies. The 2017 tax reform in the United States brought the statutory corporate income tax rate from among the highest in the world closer to the middle of the distribution. Whereas in 2017 the United States had the fourth highest corporate income tax rate in the world, it now ranks towards the middle of the countries and tax jurisdictions surveyed.
European countries tend to have lower corporate income tax rates than countries in other regions, and many developing countries have corporate income tax rates that are above the worldwide average.