While Federal Treasurer and Liberal MP for Cook Scott Morrison is waxing lyrical about Trump’s tax cuts in the US and those Turnbull Government planned company tax cuts, it might be a good idea to see where Australia is positioned with regard to its international tax ranking.
According to the US Tax Foundation's Center for Federal Tax Policy Australia has an overall ranking as the 7th best among OECD countries and 25th out of a field of 35 when it comes to company tax rates.
Even with current changes to the US tax system it is hard to see the US suddenly coming from 30th place to 6th place or better and so become more competitive than Australia already when it comes to taxation generally.
Country
|
Overall Rank
|
Overall Score
|
Corporate Tax Rank
|
Consumption Taxes Rank
|
Property Taxes Rank
|
Individual Taxes Rank
|
International Tax Rules Rank
|
Estonia
|
1
|
100.0
|
1
|
10
|
1
|
7
|
7
|
New Zealand
|
2
|
88.7
|
18
|
7
|
3
|
1
|
15
|
Switzerland
|
3
|
85.2
|
7
|
1
|
33
|
4
|
9
|
Latvia
|
4
|
85.0
|
2
|
27
|
7
|
6
|
5
|
Luxembourg
|
5
|
82.7
|
26
|
5
|
18
|
13
|
2
|
Sweden
|
6
|
81.8
|
6
|
11
|
6
|
22
|
8
|
Australia
|
7
|
78.9
|
25
|
6
|
5
|
11
|
17
|
Netherlands
|
8
|
77.5
|
19
|
14
|
24
|
14
|
1
|
Czech Republic
|
9
|
74.3
|
8
|
32
|
10
|
3
|
10
|
Slovak Republic
|
10
|
74.1
|
10
|
31
|
2
|
5
|
27
|
Turkey
|
11
|
73.7
|
15
|
25
|
17
|
2
|
11
|
Korea
|
12
|
71.8
|
20
|
3
|
27
|
8
|
31
|
Austria
|
13
|
71.3
|
16
|
12
|
9
|
33
|
6
|
United Kingdom
|
14
|
70.8
|
17
|
17
|
31
|
18
|
3
|
Norway
|
15
|
70.7
|
14
|
23
|
16
|
10
|
14
|
Ireland
|
16
|
70.4
|
4
|
24
|
12
|
23
|
20
|
Canada
|
17
|
69.1
|
21
|
8
|
23
|
17
|
22
|
Slovenia
|
18
|
68.2
|
9
|
26
|
15
|
16
|
16
|
Finland
|
19
|
68.2
|
5
|
16
|
19
|
28
|
21
|
Hungary
|
20
|
67.0
|
3
|
35
|
26
|
24
|
4
|
Denmark
|
21
|
67.0
|
13
|
21
|
8
|
30
|
23
|
Japan
|
22
|
66.8
|
34
|
2
|
28
|
26
|
25
|
Germany
|
23
|
66.6
|
23
|
13
|
13
|
32
|
12
|
Iceland
|
24
|
63.5
|
12
|
22
|
22
|
31
|
19
|
Mexico
|
25
|
62.2
|
31
|
19
|
4
|
9
|
35
|
Israel
|
26
|
61.5
|
29
|
9
|
11
|
27
|
32
|
Belgium
|
27
|
60.3
|
30
|
33
|
25
|
12
|
13
|
Spain
|
28
|
59.8
|
27
|
15
|
32
|
21
|
18
|
Greece
|
29
|
57.2
|
24
|
28
|
21
|
15
|
30
|
United States
|
30
|
55.1
|
35
|
4
|
29
|
25
|
33
|
Poland
|
31
|
54.4
|
11
|
34
|
30
|
20
|
29
|
Chile
|
32
|
53.1
|
22
|
29
|
14
|
19
|
34
|
Portugal
|
33
|
51.9
|
32
|
30
|
20
|
29
|
28
|
Italy
|
34
|
47.7
|
28
|
20
|
34
|
34
|
26
|
France
|
35
|
43.4
|
33
|
18
|
35
|
35
|
24
|
Table 1. 2017 International Tax Competitiveness Index Rankings
| |||||||
The World Economic Forum’s Global Competitiveness Index 2017–2018 Rankings places Australia in 21st overall position in a field of 137 countries, with the US ranking 1st.
Interestingly the WEF Executive Opinion Survey 2017 (12,400 company executives across 136 countries) cites the top global risks of concern to business by order of importance as:
High unemployment
Fiscal crises
National governance failure
Energy price shock
Social instability
Financial institution failure
Critical infrastructure shortfall
Large cyber attacks
Interstate/regional conflict Terrorist attacks
In relation to Australia by order of importance the top risks of concern to business were:
Energy price shock
Asset bubble
Large cyber attacks
High unemployment
Critical infrastructure shortfall
Climate change adaptation
The absence of any mention of tax rates is rather telling given the respondent pool.
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