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Written question asked by Baroness Noakes (Conservative), in the House of Lords. It was answered by Lord Davies of Oldham (Labour) on Monday, 29 October 2007.

Taxation: Corporation Tax

Question
asked Her Majesty's Government:Further to the statement by Lord Davies of Oldham on 15 October (Official Report, col. 523) that the ““British corporation tax rate [is] one of the lowest in the Organisation for Economic Co-operation and Development (OECD). Only Germany has as low a rate, at 28 per cent””, what are the corporation tax rates which apply to the following OECD members: Austria, Canada, the Czech Republic, Denmark, Finland, Hungary, Iceland, Ireland, Poland, the Slovak Republic and Switzerland.
Answer

The corporation tax rates of the countries concerned are as follows:

Country Corporation tax rate (per cent)
Austria 25
Canada 34
Czech Republic 24
Denmark 28
Finland 26
Hungary 16
Iceland 18
Ireland 12.5
Poland 19
Slovak Republic 19
Switzerland 14-30

I very much regret that I inadvertently stated in the House on 15 October that the reduction in the rate of corporation tax makes the UK's rate one of the lowest in OECD, when I had intended to say that it was the lowest in the G7. As I said in my personal statement to the House on 22 October (Official Report, col. 845), I apologise unreservedly for this error.

Secondary information

Type
Written question
Reference
5642; 695 c168-9WA
Session
2006-07
Related items
Taxation: Corporation Tax
Monday, 15 October 2007
Oral answers to questions
House of Lords
Taxation: Corporation Tax
Monday, 15 October 2007
Oral questions
House of Lords
Subjects
Corporation tax Czechia Austria Canada Hungary Finland Poland Republic of Ireland Tax rates and bands Slovakia Switzerland Iceland Denmark
Link
View this Written question on www.publications.parliament.uk