Turkey or Venezuela: which taxes less?

Both tax systems side by side, headline rates and the gap between them.

Level pegging: Turkey and Venezuela weigh about the same on the taxpayer.

Tax Turkey Venezuela Gap
Corporate income tax headline rate 25% 34% −9.0 points
Personal income tax top bracket 15% to 40% 6% to 34% +6.0 points
VAT standard rate 20% 16% +4.0 points

Detailed schedules

Corporate income tax

Turkey

General rate 25%
Financial sector Banks, insurance, finance companies 30%

Venezuela

General regime 34%
Oil activities 50%
Mining activities 60%
See the Turkey page See the Venezuela page