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Retained

  • Statutory Tax Rate 18.5
  • Surtax Based on Taxable Income 0
  • Surtax Based on Statutory Tax 0
  • Surtax Deductible from Taxable Income 0
  • Statutory Tax Deductable 0
  • Effective Tax Rate 18.5

Statutory Tax Rate

The standard corporate tax rate for resident companies is 18.5%. Companies engaged in the business of exploration and production of oil and gas are taxed at a higher rate of 55%.