Total Tax Rate (Business and Personal)

North America Ranking

profitsSource: IMF

Current Rank	Country	Value	Latest Reading	Previous Rank	Previous Value

1	Canada	55.78	2019	1	55.23
2	United States	51.89	2020	2	52.32
3	Nicaragua	40.35	2019	3	40.37
4	Mexico	37.35	2019	4	37.7
5 ↑	Panama	32.78	2018	6	30.8
6 ↓	Guatemala	32.7	2019	5	33.38
7	El Salvador	28.17	2019	7	27.33
8	Honduras	23.36	2015	8	21.51
9	Costa Rica	17.15	2019	9	16.49

Definition of Total Tax Rate (Business and Personal)

Taxes on income, profits, and capital gains are levied on the actual or presumptive net income of individuals, on the profits of corporations and enterprises, and on capital gains, whether realized or not, on land, securities, and other assets. Intragovernmental payments are eliminated in consolidation.