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Table of Contents
List of corporate tax rates Country by Country in Oceania 2023
Introduction
Oceania is a region of the world that includes several island and continental countries. These countries have diverse economies ranging from developed to developing economies. Corporate tax rates also vary from country to country. In this article, we are going to look at the corporate tax rates country by country in Oceania for the year 2023.
Australia
Australia is one of the most developed countries in the Oceania region. The corporate tax rate in Australia is 30%. However, small businesses with an annual turnover of less than A$50 million benefit from a reduced tax rate of 25%. Companies with an annual turnover of less than A$10 million benefit from a reduced tax rate of 27,5%.
New Zealand
New Zealand is another developed country in the Oceania region. The corporate tax rate in New Zealand is 28%. However, small businesses with an annual turnover of less than NZ$10 million enjoy a reduced tax rate of 27,5%.
Fiji
Fiji is a developing country in the Oceania region. The corporate tax rate in Fiji is 20%. However, small businesses that have an annual turnover of less than 300 FJD dollars enjoy a reduced tax rate of 000%.
Papua New Guinea
Papua New Guinea is another developing country in the Oceania region. The corporate tax rate in Papua New Guinea is 30%. However, small businesses with an annual turnover of less than K250 enjoy a reduced tax rate of 000%.
Solomon Islands
The Solomon Islands is a developing country in the Oceania region. The corporate tax rate in the Solomon Islands is 30%. However, small businesses that have an annual turnover of less than S$1 million enjoy a reduced tax rate of 27,5%.
Vanuatu
Vanuatu is another developing country in the Oceania region. The corporate tax rate in Vanuatu is 0%. However, companies that have an annual turnover of more than 10 million vatus enjoy a tax rate of 15%.
Conclusion
In conclusion, corporate tax rates vary significantly from country to country in Oceania. Developed countries like Australia and New Zealand have higher tax rates than developing countries like Fiji, Papua New Guinea, Solomon Islands and Vanuatu. Small businesses often benefit from reduced tax rates in all countries of the region. It is important for companies to understand the tax rates in the countries where they operate in order to plan their tax strategy.
