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Tuesday, January 5, 2010

Tax Rates around the World

From Wikipedia, the free encyclopedia

Assorted international currencies.jpg
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Comparison of tax rates around the world is difficult and somewhat subjective. Tax laws in most countries are extremely complex, and tax burden falls differently on different groups in each country and sub-national unit. The lists below give an indication by rank of some raw indicators.

Denmark is currently the most taxed country in the world with an income tax of up to 59%[1]

Contents

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Income Tax rates by Country based on OECD 2005 data.[2]

[edit]List

This is a list of tax rates around the world. It focuses on three types of taxes: corporate taxes, individual taxes and sales taxes (value added taxes (VAT) / goods and services taxes (GST) / sales). It is not intended to represent the true tax burden to either the corporation or the individual in the listed country.

Country/Region↓Corporate↓Individual↓Payroll tax usually reduces taxable income↓VAT / GST / Sales↓Primary tax articles↓
Afghanistan[3]20%
Albania[3]10%
Algeria[4]190-35%7/14/17%
Andorra[citation needed]N/A0%N/A0%
Angola[3]35%1-60%5-50% (depending on the good)
Argentina35%9-35%21%
Armenia[3]20%
Aruba[3]28%
Australia[5]30%0-45%

1.5% (Medicare levy)

4.75-6% (state) [6]10% GST (0% on essential items) [7]
Austria[3]25%21-50%20% (GST)
Azerbaijan [8]22%0-30%18%
Bangladesh[4]0-45%0-25%4-15%
Barbados[9]25%25%-35%15% (hotel accommodation 7.5%)
Belarus[4]24%12%35%10/18%
Belgium[3]33.99%25-50%21% (6% for essential and selected goods)
Benin[citation needed]35%35%18%
Bolivia25% (IUE: on profits) - 3% (IT: income resulting from transactions)N/A13% (RC-IVA: Complementary to the VAT regime - the employee can deduct it entirely using bills)13% (VAT) - multiple rates (ICE: Consumption of specific products)
Bosnia and Herzegovina10% FBiH, 10% RS [10]5% FBiH, 0-15%RS [10]33.76% FBiH, 42-57% RS [10]17% FBiH, 17% RS [10]
Bhutan0-25% [11]
Botswana15% (plus 10% surcharge)25%10%
Brazil[3]34%0-27.5%31%17-25%
Bulgaria10%10%42.7%20%
Burkina Faso10-45%2-30%15/25%
Burundi[12]35%35%N/A
Cameroon[4]38.5%10-35%19.25%
Canada[13]19.5%0-29% (federal)

0-24% (provincial)

4.95% (CPP)5% (GST)

0-10% (provincial sales taxes or value added taxes)

Chile[14]17%0-40%19%
China[3]25%5-45%0%
Colombia[4]35%0.29-38.5%16%
Croatia[4]20%15-45%37.2% (nationwide)[15]
0-18% (local)		23% (0% on books and some food items)
Cuba[4]30%10-50%12%
Cyprus[3]10%0-30%15% (0 or 5% for certain goods)
Czech Republic[3]20%15%47.5%10% (certain goods), 20%
Denmark[16]25%0-59%8%25%
Egypt[17]20%10-20%N/A0-25% [18]
El Salvador25%0-25%13%
Estonia[3]21%21%33%20% 9% (certain goods and services)
Finland[3]26%9-32% national, 16-21% municipal22%
12% (food and fodder)
8% (e.g. accommodation and culture)
France[3]33.33%21% (social charges)

0-50% (income tax)

45%19.6%/5.5% on certain goods (e.g. food)
Gabon35%5-55%2.6%18%
Germany29.8% (average)0-45%19%/7% on certain goods (e.g. food)
Georgia[4]15%20%18%
Gibraltar33%17-40%N/A
Greece22/25%0-40%19%-9% certain goods
Guatemala[4]31%15-31%12%
Guyana[19]35%/45%33⅓%16%/0%
Hong Kong[20]16.5%0-15%N/AN/A
Hungary16%18% and 36%50.5%25%
Iceland[4]18/26%0-36.72%[21]6%0/14/25.5%
India[3]33.99%0-30% (+3% cess)12.5%
Indonesia25% starting FY 20105-30%10%
Iran25%0-35%N/A
Ireland12.5%0-41%16.75%21% Goods
13.5% Services
0% Food
Israel25%10-47%16%
Italy31.4%23-43%20%-10%-4% on some goods (foods, books)
Jamaica33.3%3-5%25%17.5%
Japan[3]40.69%5-40%5% (consumption)
Jordan[4]15/25/35%5-30%16% (GST)
Kazakhstan[4]17.5%, 15%(2011-)10%11%12%
South Korea[4]13/25%9%-21.375% + 36% excess10%
Latvia[22]15%26%33.09% (9% by the employee)21%
Lebanon[4]15/4-21%2-20%10%
Lithuania15%0-15%39.98%21%
Luxembourg29.63%6-38.95%15%
Macau[3]12%
Malaysia[3]25%0-26%
Malta35%0-35%18%
Mexico[3]28%3-29%16%
Monaco33.33%0%[23]19.6%
Montenegro9%15%17%
Morocco30%0-38%20%
NepalN/A10-25%[24]13%[25]
Netherlands20/25.5%0-52%19% (6% for essential and selected goods)
New Zealand28%10.5-33%[26]12.5% (GST) (15% from 1st October 2010)
Norway28%0-47.8%14%25%, 14% (food and drink in shops) and 8% (transportation).
Pakistan35%7.5-35%16%
Panama[4]30%0-27%0/5%
Peru[4]27%15-27%2/19%
Philippines30%5-32%0 ; 7 ; 12%

(in some cases, foreign investors are zero-rated)

Poland[3]19%18-32%41.11%22%, 7% (reduced rate on certain goods)
Portugal[3]25%10.5-40%20%

(reduced rates on certain goods—5% or 12%)

Romania16%16%45.15%19% (9% hotel accommodation ...)
Russia[3]13-20%13%10-26% before annual salary exceeds 450k RUB, 0% thereafter0-18%

(reduced rates for certain goods, no VAT for small businesses except for imports activities)

Saudi Arabia[27]20%-85%
11% Social security		Zakat
0%		N/A
Senegal[4]33%up to 50%20%
Serbia[28]10%12-20%35.8%[29]18%, 8% and 0%

(reduced rates are for certain goods)

Singapore17%[30]3.5%-20%7% (GST)
Slovakia19%19%19%
Slovenia[3]21%16-41%8.5/20%
South Africa28%[31]18-40%14%
Spain[3]25-30%0-42%16%, 7%, and 4%
Sweden26.3%[32]28.89%-59.09%[33][34]31.42%[35]25%. 12% and 6% for some goods.[36]
Switzerland[4]13-25%0-13.2% (federal)3.6/2.4/7.6%
Syria[4]10-45%5-15%Debuts in 2008
Taiwan[3]25%6-40%5%
Tanzania30%15-30%
Thailand[3]30%5-37%7%
Tunisia[4]30%0-35%6/12/18%
Turkey[3]20%15-35%35-40%18%
Ukraine[4]25%15%20%
United Arab Emirates[4]N/A0% [37]N/A
United Kingdom[38]21-28%0-50%[39]23.8% (National Insurance)Zero Rate 0%;
Reduced Rate 5%;
Standard Rate 17.5%.[40]
United States[41][42][43][44][45]15-39% (federal)
0-12% (state)		0-35% (federal)
0-10.3% (state)
15.3% (of which 2.9% is regressive)0-10.25% (state and local)
Uruguay[4]30%0-25%22%
Uzbekistan[4]12%13-30%10-20%
Venezuela[4]15/22/34%6-34%8-10%/12%
Vietnam[3]25%0-40%10%
British Virgin IslandsN/A0% [46]10-14%N/A
Zambia35%10-30%17.5%

[edit]See also
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