Definition: Effective top statutory tax rate on corporate income

Effective top statutory tax rate on corporate income reflects the non-targeted rate including surcharges and averages of local taxes. For Estonia the rate refers only to distributed profits; as from 2000 the tax rate on retained earnings is zero. The rate for Italy includes "IRAP" (rate 4.25%) a local tax levied on a tax base broader than corporate income.
Source:
Eurostat, News Release, Taxation in the EU from 1995 to 2003 EU25 overall tax burden at 40.3% of GDP in 2003 - Labour accounts for half of tax revenue, 134/2005 - 21October 2005, Luxembourg, 2005
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