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Where in the World Do People Pay the Highest taxes?

Where in the World Do People Pay the Highest taxes?

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Materiały Prasowe,
08.05.2024 21:00

Taxes are one of the main positions countries generate their fixed capital with. There are different types of taxes such as direct, indirect, corporate, property tax, sales tax, inheritance tax, etc.

Direct taxes are those imposed directly on the income or property of individuals or corporations. Examples include income taxes and capital gains tax.

Income tax helps finance public services, provide goods for citizens and pay government debts. Of course, the amount varies from country to country and personal income taxes have a progressive structure, which means that the tax rate increases as individuals' incomes also change and they earn higher wages.

Personal income tax is applied on the salary of individuals and on all other types of income they get. Corporate tax applies to corporations, firms, partnerships and self-employed individuals.

In this article, we will see the countries in the world with the highest individual income tax. We have selected the thirty countries where people pay the most to the treasury.

30. Lithuania

Personal income tax: 32%

GDP per capita: US$25,054

29. Cyprus

Personal income tax: 35%

GDP per capita: US$32,048

28. Malta

Personal income tax: 35%

GDP per capita: US$34,127

27. Croatia

Personal income tax: 35.4%

GDP per capita: US$18,570

26. Switzerland

Personal income tax: 36%

GDP per capita: US$93,259

25. Turkey

Personal income tax: 40%

GDP per capita: US$10,674

24. Ireland

Personal income tax: 40%

GDP per capita: US$103,983

23. Luxembourg

Personal income tax: 42%

GDP per capita: US$125,006

22. Italy

Personal income tax: 43%

GDP per capita: US$34,776

21. Greece

Personal income tax: 44%

GDP per capita: US$20,867

20. Finaland

Personal income tax: 44%

GDP per capita: US$50,916

19. South Africa

Personal income tax: 45%

GDP per capita: US$6,766

18. China

Personal income tax: 45%

GDP per capita: US$12,720

17. United Kingdom

Personal income tax: 45%

GDP per capita: US$46,125

16. Germany

Personal income tax: 45%

GDP per capita: US$48,717

15. South Korea

Personal income tax: 45%

GDP per capita: US$32,422

14. France

Personal income tax: 45%

GDP per capita: US$40,886

13. Iceland

Personal income tax: 46.25%

GDP per capita: US$73,466

12. Spain

Personal income tax: 47%

GDP per capita: US$29,674

11. The Netherlands

Personal income tax: 49.5%

GDP per capita: US$57,025

10. Israel

Personal income tax: 50%

GDP per capita: US$54,930

9. Slovenia

Personal income tax: 50%

GDP per capita: US$28,439

8. Belgium

Personal income tax: 50%

GDP per capita: US$49,926

7. Aruba

Personal income tax: 52%

GDP per capita: US$33,300

6. Sweden

Personal income tax: 52.3%

GDP per capita: US$56,373

5. Portugal

Personal income tax: 53%

GDP per capita: US$24,515

4. Australlia

Personal income tax: 55%

GDP per capita: US$65,099

3. Austria

Personal income tax: 55%

GDP per capita: US$52,084

2. Denmark

Personal income tax: 55.9%

GDP per capita: US$67,790

1. Japan

Personal income tax: 55.97%

GDP per capita: US$33,823

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