Agreed.ozze_dollar wrote:It is very difficult to compare taxes.We need to include direct taxes like a GST. Taxes on petrol and also payroll taxes.PST wrote:There is a web site called World Tax Rates 2010/2011, http://www.taxrates.cc, that shows corporate tax rates for most countries. A disclaimer notes that determining rates can be difficult, and I suppose some places may have differences between industries or locations, but the site didn't seem to have an ax to grind. Among the figures it gives for advanced countries or fast-growing countries:kempo wrote: Big business have been leaving this country for years to move to Canada, Europe, and the far East to flee the 35% corporate taxes we have in the U.S. If the U.S. would drop corporate taxes to 20% like the rest of the world, the economy would boom. Lowering taxes increases tax revenue. It always has and it always will.
Australia 30%
Canada 34%
China 25%
France 33.33%
Germany 33.3%
India 33.99%
Japan 40.87%
Mexico 30%
U.K. 28%
Most of those are a scooch less than that of the U.S., but it would take a pile of evidence to convince me that for years companies have been moving to Canada, say, for that 2 percent difference. In any event, it doesn't look like there is a world 20 percent standard. There were a few countries in the last decade that got a reputation for attracting businesses with especially low income tax rates, but some of those, like Ireland, are basket cases now.
In addition, it is notoriously the case that American companies do not, on average, pay anywhere close to 35 percent because of a broad variety of subsidies, shelters, and special breaks. There was an interesting story in the New York Times a few months ago, "U.S. Business Has High Tax Rates but Pays Less," http://www.nytimes.com/2011/05/03/busin ... rates.html. Perhaps the most interesting information was this:I would certainly like to see us close the loopholes and reduce the rate. Every sensible person would. But I'm not holding my breath.In addition to being complex and uneven, the United States corporate tax code is inefficient and has become a diminishing source of revenue. Corporate taxes accounted for about 9 percent of all federal revenue in 2010. At $191 billion, they were equal to 1.3 percent of the nation's gross domestic product. Most industrial countries collect more from companies, about 2.5 percent of output.
In Canada, most provinces and Territories have provincial sales tax (Alberta is the only province that does not) in addition to a federal Goods and Services Tax.
In the province of British Columbia, there is also a carbon tax and a quite hefty public roads & transit tax on the cost of petrol in addition to the PST/GST (it currently costs CAD 1.36$/L or USD 5.24$/gal to fill up in suburban Vancouver).
Fortunately though, there is no sales tax on CPAP equipment/supplies, whether purchased in Canada or imported in from elsewhere.
