Country | Income tax | Turnover tax |
America | progressive tax rate in excess of specific amount: 35% | - |
Japan | Small Banks with less than 100 million yen in capital: 28%; Banks above 100 million yen: 37.5% | 5% consumption tax |
Germany | distribute earnings: 32% undistributed earnings: 48% | The state levies a 5% sales tax on profits. |
England | progressive tax rate in excess of specific amount: 25% - 33% | - |
France | Short-term income tax rate: 36.6% Long-term income tax rate: 20.9% | - |
Italy | composite tax rate: 53.2% | - |
Canada | 4% - 17% | - |
China | 33% - 25% | Local currency credit is subject to business tax of 5% of interest income |