Tax Rates by Country Highest to Lowest


Due to its history, geographical location and high-quality university education system, Israel is home to a highly motivated and educated population responsible for the country`s high-tech boom and rapid economic development. But all this comes at a price: a higher marginal tax rate of 50%. Like its Scandinavian neighbor Denmark, Sweden has a society based on high social taxes and significant government benefits. Although most Swedes are satisfied with this agreement, these benefits come at a price. Sweden`s highest personal tax rate is not as high as some suspect, reaching just 32.28%, but indirect taxes of 25% are helping to propel the country into the top league when it comes to global tax rates. Overall, World Bank data shows that taxes in Sweden account for 27.91% of GDP – one of the highest rates in the world. Macau residents benefit from taxes on these huge gambling incomes, as income tax rates are only 12% and there are no indirect taxes or social security for workers. However, total tax revenue amounts to 30.45% of total GDP in Macau. The tax burden varies so much from country to country due to the rates at which each country funds social security programs such as pensions and health care.

In some countries, such as the Netherlands, social security taxes are significantly higher than basic income taxes. Sweden ranks first with the highest income tax rates in the world – just over 57%. Doing business there will be expensive, but trading in real estate could keep you away from ridiculously high taxes. The dissonance here is strong with the author. When you talk about high rates of depression in Finland, use “high tax rates as a possible consequence”, but when you refer to the high level of happiness in Denmark, you claim that “I always tend between the mindset of taxation as a reason for a country`s level of happiness” – the author simply cannot have it one way or the other. 4% Cess and the highest surtax of 37% is applied to income tax. Thus, the effective tax is 42.74% The general rule in the housing system is 183 days; In other words, if you spend more than 183 scheduled days in country XYZ, your global income will be taxed. In other cases, it is enough to be a resident of only one country to be subject to the country`s tax on your worldwide income. This ancient country gave us many great myths and legends, but it also shattered the myth that high taxes automatically create a social refuge. Instead, Greece is a tax risk. Greece is the 15th largest economy in the European Union, but with a high marginal tax rate of 48%, it also ranks 13th among the countries with the highest taxes in the world. Determine which country to live in, in which country to earn money and which to be a citizen is where the flag theory comes into play.

I advise the people I help every month to become tax-free residents of a tax-free country that won`t try to get their hands on the money they earn elsewhere. Belgium was the first country in continental Europe to experience the Industrial Revolution and, since then, it has always been ranked as one of the most developed countries in the world. But recently, Wallonia`s unemployment rate has been more than double that of Flanders, and the country has become more politically divided than in the last century or two. In 2021, 20 countries changed their statutory corporate tax rates. Three countries – Bangladesh, Argentina and Gibraltar – have raised their highest tax rates, while 17 countries – including Chile, Tunisia and France – have lowered their corporate tax rates. Notes: * Bahrain does not have a general corporate tax, but a targeted tax on oil companies, which can reach 46%. See Deloitte, “International Tax – Bahrain Highlights 2021,” last updated January 2021, The United Arab Emirates is a federation of seven different emirates. Since 1960, each emirate has had the discretion to levy up to 55% corporate tax rate on each company. In practice, this tax is mainly levied by foreign banks and oil companies. More information on the UAE tax system can be found in PwC, “Worldwide Tax Summaries – Corporate income tax (CIT) rates.” In general, larger and more industrialized countries tend to have higher corporate tax rates than smaller countries.

The G7, which is made up of the seven richest countries in the world, has an average legal corporate tax rate of 26.69% and a weighted average rate of 26.41%. OECD member states have an average statutory corporate tax rate of 23.04% and a rate of 25.81% when weighted by GDP. The BRICS[12] have an average statutory rate of 27.40% and a weighted average legal corporate tax rate of 26.07%. [9] As no average is given in this section, it covers the 225 countries and territories for which corporate tax rates have been established for 2021 (including those for which GDP data were not available). Finland, or the “country at the end of the world” as it was once called, is one of the most taxed Nordic countries. The days there last an eternity in the summer, but “winter always comes and a long night with it.” Many contribute to Japan`s success to their legendary work ethic. Given that its capital is home to more millionaires than any other city in the world, Japan is the only Asian country among high-tax countries with a 55.95% higher marginal income tax rate. Comparing tax rates by country is difficult and somewhat subjective, as the tax laws of most countries are extremely complex and the tax burden falls differently on different groups in each country and subnational entity.

The list focuses on the main types of taxes: corporate income tax, personal income tax, and sales tax, including VAT and GST, but not capital gains tax, wealth tax, or estate tax. All regions recorded a net decline in average statutory rates between 1980 and 2021. The average fell the most in Europe, with the 1980 average falling from 44.6% to 19.84%, a decrease of 55%. South America saw the smallest decline, with the average falling by only 27 percent, from 36.66 percent in 1980 to 26.63 percent in 2021. “Germany is the most populous country in Europe (if you don`t count Russia) and, in many ways, the power that drives Europe.” One of the few German-speaking countries in the world is also one of the most developed, like any other German-speaking country. Austria also demands that its people pay for this privilege, as the highest tax rates are 55%. To put this in perspective, Greece has a tax rate that is almost three times higher than the tax rate in the country of Georgia. Georgia has managed to create an economy on par with the Greek economy while remaining a low-tax country. .