Where in the World Do People Pay the Highest taxes?
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