Who Pays the Highest Tax Rates?
Lady Gaga's Scotland villa
Do you think you pay a lot of taxes? Do you think it should matter how a country taxes its citizens each year? Should these factors be considered by travelers prior to visiting other countries? Did you know some of the most well visited countries have the highest tax rates for its citizens?
- Belgium tops the list, with a marginal tax rate that goes as high as 54% (Finland is second at 46.6%).
- Germany, is third highest with a 45% marginal tax rate
- Denmark is fourth with 44.4% tax rate
- Italy is fifth at 43% tax rate (average income is $30,831. per year)
- France has a 40-50% tax rate depending on income status.
Surprisingly, Switzerland and USA were ranked in the lowest taxation rates in the world and Britain isn't among the highest.
Switzerland has a 20% taxation rate
Britain (surprisingly low) has a 32% tax rate
Canada maintains a 31.2% taxation rate.
USA with a 27% taxation rate...doesn't seem so high when it's compared to other countries around the world.
Information is based on marginal tax rates based on average income within the particular country.
Statistics from the Business Pundit