Re: 4 Countries That Have The Highest Income Tax Rate In The World
Posted: Tue Apr 10, 2018 4:43 pm
2. Germany (39.70%)
As per the policies, Germany does not have the special regime for taxation. Germany imposes a progressive (i.e. tax revenue increases as the individual annual income increases) tax on individuals which accounts to 39.70% (second highest among the European countries). The tax system includes capital gain, employment wages, business ownership and saving/investment including tax from church (8%-9%).
In spite of such heavy taxes number of facilities such as education, health care (certain percentage of their income is deducted that is put towards their health insurance) are almost free.
3. Denmark (36.1%)
In Denmark tax revenue collected is divided into state income tax (i.e. progressive) and local income tax (also called flat tax) where average paying capacity for the individual is 45%, but people with high income group pays 55.8%.
For other taxes it is cited as $155 for social security tax and 5% on health tax, capital gains accounts 27% or 42%, dividends account 27% and 22.5%-27.8% on municipal tax. Members of church pay an additional 0.43% to 1.4% that is voluntary. But one can opt from this tax of being the member of state church.
As per the policies, Germany does not have the special regime for taxation. Germany imposes a progressive (i.e. tax revenue increases as the individual annual income increases) tax on individuals which accounts to 39.70% (second highest among the European countries). The tax system includes capital gain, employment wages, business ownership and saving/investment including tax from church (8%-9%).
In spite of such heavy taxes number of facilities such as education, health care (certain percentage of their income is deducted that is put towards their health insurance) are almost free.
3. Denmark (36.1%)
In Denmark tax revenue collected is divided into state income tax (i.e. progressive) and local income tax (also called flat tax) where average paying capacity for the individual is 45%, but people with high income group pays 55.8%.
For other taxes it is cited as $155 for social security tax and 5% on health tax, capital gains accounts 27% or 42%, dividends account 27% and 22.5%-27.8% on municipal tax. Members of church pay an additional 0.43% to 1.4% that is voluntary. But one can opt from this tax of being the member of state church.