Different countries have different statutory taxrates.

Instructions
Choose an industry and select five companiesthat operate in different countries. Access these companies'most recent annual financial statements and make note of theirstatutory and effective income tax rates.Alternatively, use the railway industry and the followingcompanies:Canadian National Railway: CanadaDeutsche Bahn: GermanyEast Japan Railway Company: JapanNSB Group: NorwayUnion Pacific Railroad Corp.: United States
(a) For each company, identify its year end, country of operation, statutory income tax rates, and effective tax rates.
(b) Identify any significant differences that caused the rates inpart (a) to differ, and discuss any similarities or differencesfound.