10 Most Conservative Countries in the World and their Economic Development

8. Honduras

Personal Income Tax Rate (2023): 10%

Corporate Tax Rate (2023): 25%

Annual Social Assistance Spending as a percentage of GDP (2015-2018): 0.31%

Insider Monkey rating: 0.176 out of 1

Honduras is a country in Central America. It reports a GDP per capita of $7,160 and a GDP growth of 2.9% as of 2023, according to the IMF. It is ranked 8th on our list, with a personal income tax rate of 25% corporate tax rate and a 10% personal income tax rate. According to the World Bank, Honduras spent 0.31% of its GDP annually on social welfare from 2015 to 2018.