TaxGlass

SO · AfricaVE · Americas

Somalia vs Venezuela: tax rates compared

Between the two, Venezuela's income tax rate (34%) tops Somalia's (18%) by 16pp. The 200-country average is 28%: Somalia sits below it, Venezuela sits above it. Somalia's figure is dated 2025-11-01 and Venezuela's 2026-01-12, so the two rates come from different data vintages.

Verified data covers three of the six tracked tax types for both countries; every rate below is cited to its source and dated.

At a glance

0102030405060Income18%34%Corporate15%34%Wealth Tax0%0.3%
three shared taxes, side by side
Tax SO VEDifference
Income Tax18%34%VE +16 pp
Corporate Tax15%34%VE +19 pplargest gap
Wealth Tax0%0.3%VE +0.3 pp

Income Tax

Income Tax, side by side
CountryRateSource
Somalia18%Source: Ministry of Finance, Federal Republic of Somalia — Income Tax Manual (for the Income Tax Law 2025 & Income Tax Regulations 2025) · as of 2025-11-01
Venezuela34%Source: PWC Worldwide Tax Summaries — Venezuela (Individual, Taxes on personal income) · as of 2026-01-12
Difference−16 ppVenezuela higher

Corporate Tax

Corporate Tax, side by side
CountryRateSource
Somalia15%Source: Tax Foundation — Worldwide Corporate Tax Rates · as of 2025-01-01
Venezuela34%Source: Tax Foundation — Worldwide Corporate Tax Rates · as of 2025-01-01
Difference−19 ppVenezuela higher

Between the two, Venezuela's corporate tax rate (34%) tops Somalia's (15%) by 19pp. The 201-country average is 22.6%: Somalia sits below it, Venezuela sits above it.

Wealth Tax

Wealth Tax, side by side
CountryRateSource
Somalia0%Source: Somalia Revenue Directorate — Direct Tax · as of 2026-07-18
Venezuela0.3%Source: PWC Worldwide Tax Summaries — Venezuela (Individual, Other taxes) · as of 2026-01-12
Difference−0.3 ppVenezuela higher

Between the two, Venezuela's wealth tax rate (0.3%) tops Somalia's (0%) by 0.3pp. The 193-country average is 0.1%: Somalia sits below it, Venezuela sits above it.

Not covered for both countries yet: VAT, Capital Gains Tax, Crypto Tax.