Global Corporate Income, Profits and Capital Gains Tax Revenue Perceived by a Local Government by Country

In 2023, China dominated global corporate tax revenues with $343.96 billion, showcasing a stable growth trend with a 2.85% year-on-year increase. Meanwhile, the Philippines showed the highest increase at 5.79%, and France remained the lowest at negligible revenue. Liechtenstein, Luxembourg, and Switzerland, despite their economic strength, contributed minimally due to their low corporate income tax rates or tax-related incentives. Spain's revenue decline of 2.47% marked a stark contrast against other countries.

Future trends to watch include:

• Continued growth in Asia due to economic expansion and changes in tax policy.
• Potential shifts in Europe as countries reconsider tax policies to attract foreign investment post-Brexit.
• In the U.S., potential policy changes aimed at increasing tax revenues from large tech and multinational corporations might be forthcoming.