According to OECD data, corporate tax revenue increased following Canada’s corporate tax rate cuts that began in 2000. The first chart below shows the data. Corporate tax revenue as a share of GDP in Canada has averaged 3.3 percent since 2000, while it averaged 2.9 percent over the years 1988 to 2000, when Canada’s corporate tax rate was 43 percent.
Source: Tax Foundation ***For 15 years straight, Canada has raised more corporate tax revenue than the U.S., as a share of GDP. Since 2000, U.S. corporate tax revenue as a share of GDP has averaged 2.3 percent, compared to 3.3. percent in Canada.
Source: Tax Foundation
Friday, August 29, 2014
Posted By Milton Recht
From Tax Foundation, "Canada's Lower Corporate Tax Rate Raises More Tax Revenue" by William McBride:
Posted 8/29/2014 01:55:00 PM