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TOP 10 Highest Tax Paying Countries in the World

TOP 10 Highest Tax Paying Countries in the World

Here is the TOP 10 Highest Tax Paying Countries in the World

10.Ireland

TOP 10 Highest Tax Paying Countries in the World

TOP 10 Highest Tax Paying Countries in the World

  • Tax-rate in Ireland is very high. Least income for tax imposition is $40,696.
  • And income-tax for least income is 48%.
  • In Northern Europe average tax-rate is 40% and as compare to Northern Europe, Ireland has much higher personal tax-rate.
  • Social security tax is 4%.
  • Tax on gift, capital gain and inheritance is from 25% to 30%.

 

9.Finland

TOP 10 Highest Tax Paying Countries in the World

TOP 10 Highest Tax Paying Countries in the World

  • In Finland, the minimum tax payable income is 91000 US dollars and tax- rate is 49.2%.
  • The tax- rate was 53.5% in 2004, but the government decreased it to enhance citizen’s purchasing power.
  • Finland was experiencing inflation.
  • In Finland the municipal tax is 21% and capital gain tax is 28%.
  • Churches also pay a tax from 1% to 2%.

 

 

8.United Kingdom

TOP 10 Highest Tax Paying Countries in the World

TOP 10 Highest Tax Paying Countries in the World

  • In United Kingdom the minimum income level for tax is 234,484 US dollars.
  • The rate of taxation imposed in UK is 45%.
  • Capital gain tax is 45% and social security tax rate is 14% in UK.
  • In term of Gross Domestic product, UK is the sixth largest economy in the world.

 

7.Japan

TOP 10 Highest Tax Paying Countries in the World

TOP 10 Highest Tax Paying Countries in the World

  • As compare to rest of the Asian countries, tax- rate in Japan is very high.
  • The least tax payable income is 228,880 US dollars and tax rate is 50%.
  • This tax- rate is much higher than the average of Asia which is only 23$.
  • In Japan, property tax rate is 10% and marginal rate is 40%.

 

6.Austria

TOP 10 Highest Tax Paying Countries in the World

TOP 10 Highest Tax Paying Countries in the World

  • Austria is a land locked country.
  • It is situated in central Europe. It is a federal republic.
  • In term of GDP, it is regarded 12th richest country in the world.
  • Minimum tax payable income is 74442 US dollars and tax- rate is 50%.
  • Social security charges are 18%, bonus payment charges are 6% and the capital gain tax is 25%.
  • It is amazing that through an agreement between Austrian and Swiss governments, the money of Austrians saved In Swiss banks is also taxed.
  • Austria is still considered one of the best places to live in.

 

5.Belgium

TOP 10 Highest Tax Paying Countries in the World

TOP 10 Highest Tax Paying Countries in the World

  • 50% tax is imposed in Belgium on an income of at least 46,900 US dollars.
  • Belgium is located in Western Europe.
  • As compare to Western Europe higher tax-rate is imposed in Belgium.
  • Social security tax is 35%, municipal tax is 11% and capital gain tax is 33%.
  • In Belgium single taxpayer carries less than 45% of his actual income while those having highest income take less than 40%. Netherlands

 

4.Netherland

TOP 10 Highest Tax Paying Countries in the World

TOP 10 Highest Tax Paying Countries in the World

  • A developed country, Netherlands comprises of twelve provinces in north Western Europe and three islands in the Caribbean.
  •  Netherlands is also famously called Holland.
  • The minimum tax- payable income In Netherlands is 70090% US dollars with the tax rate of 52%.
  • In Netherlands, capital gain tax-rate is 25%, inheritance tax is up to 40% and capital gain tax is 25%.

 

3.Denmark

TOP 10 Highest Tax Paying Countries in the World

TOP 10 Highest Tax Paying Countries in the World

  • Denmark is situated in northern Europe.
  • 55.56% tax is imposed on the people having minimum income of 76,000 US dollars.
  • In 2008, the tax- rate was 62.3% in Denmark.
  • It was reduced in 2013.
  • Government imposes 28% on dividend income, 42% on capital gains and 15% on gifts.
  • Churches pay a tax from 0.4% to 1.5%.
  • Denmark is ranked as the happiest country of the world.

 

2.Sweden

TOP 10 Highest Tax Paying Countries in the World

TOP 10 Highest Tax Paying Countries in the World

  • Sweden is a Scandinavian country.
  • It is located in Northern Europe.
  • In 2013, it was ranked the second most reputable country in the world.
  • Sweden is a welfare state. Sweden Government offers its citizens free education, healthcare, pension and subsidized transport.
  • All these benefits are the consequence of higher tax- rates in Sweden.
  • Income tax rated in Sweden is 56.6%. Like Sweden, other Scandinavian countries are also highest tax paying country.
  • But there average is 48% less than Sweden.
  • The least tax payable average income is 48,800 US dollars while the top tax- rates of the Sweden affects the people having income of 81,000 US dollars.
  • In Sweden, 30% tax is imposed on investment income.

 

1.Aruba

TOP 10 Highest Tax Paying Countries in the World

TOP 10 Highest Tax Paying Countries in the World

  • Aruba is a 33 kilometers long island in the southern Caribbean Sea.
  • Aruba is one of the four constituent countries that make the kingdom of the Netherlands and the citizens of all these countries have single nationality and they are known as Dutch nation.
  • In Caribbean region, Aruba is having highest standards of living.
  • Tax rate in Aruba is 58.95% for those people having income of at least 171,149 US dollars.
  • Married people pay slightly lower rates of 55.85%. Singles have to pay 58.95%. Capital gain tax is 25%.
  • Unemployment rate in Aruba is very low.
  • Neighboring states of Aruba those have zero income tax rates are: Bahamas, Cayman Islands and Bermuda.

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