These are the 29 countries with the world's lowest levels of tax

Every year, the World Economic Forum releases its Global Competitiveness Report on the state of the world's economies.The WEF looks at data on areas as varied as the soundness of banks to the sophistication of businessesin each country. It then uses the data to compile a picture of virtually every country on earth.One of the indicators the WEF uses is a country's tax burden, with higher scores indicating lower competitiveness.To measure tax it uses the World Bank's total tax rate. Here's what goes into that:The total amount of taxes is the sum of five different types of taxes and contributions payable after accounting for deductions and exemptions: profit or corporate income tax, social contributions, and labour taxes paid by the employer, property taxes, turnover taxes, and other small taxes.Basically, it's all the taxes levied on businesses but not those levied on the people who work for them. Business Insider took a look at the countries with the world's lowest taxes on businesses.Check them out below.This article is based on a previous post written by Mike Bird29. Bulgaria: 27% ' Corporate taxes in Bulgaria are just 10%, the same as the maximum possible income tax charged to individuals in the country. That numbers is one of the five lowest in Europe.28. Thailand: 26.9% ' The basic rate of corporate income tax in Thailand is 20%, although profits are taxed differently based on their size. For instance, profits of less than 3 million baht (60,365) are taxed just 15%.27. Denmark: 26% ' Considering that Denmark has one of the strongest welfare states on earth, the country's relatively low total rate is pretty surprising.See the rest of the story at Business Insider
Click here to read full news..