Americas tax rates
8 countries · Income, corporate, VAT & more · 2024
Americas tax comparison — 2024
| Country | Income Tax | Corporate | VAT | Employee SS | Employer SS | Cap. Gains |
|---|---|---|---|---|---|---|
| Colombia | 0.00–39.00% | 35.00% | 19.00% | 4.00% | 12.00% | 10.00% |
| United States | 10.00–37.00% | 21.00% | 0.00% | 6.20% | 6.20% | 23.80% |
| Mexico | 1.92–35.00% | 30.00% | 16.00% | 2.00% | 17.58% | 10.00% |
| Argentina | 5.00–35.00% | 35.00% | 21.00% | 17.00% | 26.50% | 15.00% |
| Chile | 0.00–35.00% | 27.00% | 19.00% | 7.00% | 23.00% | 27.00% |
| Canada | 15.00–33.00% | 26.50% | 5.00% | 5.95% | 5.95% | 26.70% |
| Peru | 8.00–30.00% | 29.50% | 18.00% | 13.00% | 9.00% | 5.00% |
| Brazil | 7.50–27.50% | 34.00% | 17.00% | 11.00% | 28.80% | 15.00% |
Tax FAQs — Americas
Which Americas country has the lowest income tax?
Among Americas countries, Brazil has the lowest top income tax rate at 27.50% in 2024. The regional average top rate is 33.9%.
Which Americas country has the lowest corporate tax?
United States has the lowest corporate tax rate in Americas at 21.00% (2024). The regional average is 29.8%.
Which Americas country is most tax-friendly?
Based on the combined income tax and employee social security burden, Mexico is the most tax-friendly country in Americas with a combined maximum rate of 37%.
Which Americas country has the highest VAT?
Argentina has the highest standard VAT rate in Americas at 21.00% (2024). The regional average VAT rate is 14.4%. VAT is charged on most goods and services, though most countries apply reduced rates to essentials like food and medicine.
Which Americas country is best for business taxes?
For corporate taxes, United States offers the lowest rate in Americas at 21.00%. However, the best jurisdiction for a business depends on more than just the headline rate — factors like VAT, employer social security costs, ease of setup, and double tax treaties all affect the true tax burden. The regional average corporate tax is 29.8%.
How do Americas tax rates compare to the global average?
The average top income tax rate in Americas is 33.9%, compared to a global average of approximately 31%. The average corporate tax rate in Americas is 29.8%, against a global average of around 23%. Americas is broadly in line with global averages.
Which Americas countries have no capital gains tax?
All countries in Americas levy some form of capital gains tax. Rates range from 5.00% to 27.00%.