What Are the Recent Trends in Corporate Tax Rates?
In recent years, there has been a global trend towards lowering corporate tax rates to attract business investment and stimulate economic growth. For example, the United States reduced its federal corporate tax rate from 35% to 21% in 2018. Similarly, several European countries have also lowered their rates. However, there is also a growing movement towards establishing a global minimum tax rate to curb tax avoidance and ensure fair competition.