Corporation tax falling as indirect taxes rise

AN international survey covering 114 countries has found corporation tax rates are falling while indirect taxes rise worldwide.

The KPMG survey found Ireland’s 12.5% corporation tax to be among the lowest in Europe where the average now stands at 21.5% compared with a global average of 25%.

As governments look to recoup lost revenues the world is in the midst of considerable tax regime change, according to KPMG’s 2010 Global Corporation and Indirect Tax Survey.