The global economy is on a tax-cutting binge. According to a recent study by the United Nations, more than 20 countries reduced their corporate income tax rates in 2005, in an effort to attract a larger share of nearly $650 billion in foreign direct investment. Only three nations -- Germany, India, and Vietnam -- raised them, and in the U.S., rates stayed steady at about 32%.
Corporate tax rates:
|Country||2004 Rate||2005 Rate|