Tax rates around the world

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Comparison of Tax Rates around the world is a difficult and somewhat subjective enterprise. 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. This data is somewhat misleading, as base tax rate does not take into account tax sheltering however. For instance, ..."while the 35% corporate income tax rate in the USA is high indeed, between 2000 and 2005, corporate taxes amounted to only 2.2% of the GDP. The average for the 30 mostly rich member countries of the Organization for Economic Cooperation and Development was 3.4%" due to extensive use of tax sheltering.[1]

Contents

[edit] Graphs

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

[edit] List

This is a list of tax rates around the world. It is focused 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 VAT / GST / Sales Primary tax articles
 Algeria[3] 30%+3% 0-40% 7/14/17%
 Argentina 35% 9-35% 21%
 Australia[4] 30% 0-45% 10% (GST)
 Austria 25% 21-50% 20% (GST)
 Azerbaijan[3] 22% 0-35% 18%
 Bangladesh[3] 0-40% 0-25% 4-15%
 Barbados[5] 40% 25%-40% 15% (hotel accommodation 7.5%)
 Belarus[3] 24% 12-30% 35% 10/18%
 Belgium 33.99% 25-50% 21% (6% for essential and selected goods)
 Bosnia and Herzegovina 10% FBiH, 10% RS [4] 5% FBiH, 0-15% RS [5] 33.76% FBiH, 42-57% RS [6] 17% FBiH, 17% RS [7]
 Brazil 34% 0-27.5% 31% 17-25%
 Bulgaria 10% 10% 42.7% 20%
 Burundi[6] 35% 35% N/A
 Cameroon[3] 38.5% 10-35% 19.25%
 Canada[7] 29.5-35.5% 15-29% (federal)

4-24% (provincial)

 4.95% (CPP) 5% (GST)

0-10% (provincial sales taxes)
 Chile[8] 17% 0-40% 19%
 China 25% 5-45% 17%
 Colombia[3] 35% 0.29-38.5% 16%
 Croatia[3] 20% 15-45% 37.2%[9] 22%
 Cuba[3] 30% 10-50% 12%
 Cyprus 10% 0-30% 15% (0 or 5% for certain goods)
 Czech Republic 21% 15% 47.5% 19%
 Denmark[10] 25% 0-63% 25%
 Egypt 20% 10-20% N/A
 El Salvador 25% 0-25% 13%
 Estonia 21% 21% 33% 18%
 Finland 26% 9-32% national, 16-21% municipal 22%
17% (food and fodder)
8% (e.g. accommodation and culture)
 France 33.33% 21% (social charges)

0-50% (income tax)

 45% 19.6%/5.5% on certain goods (e.g. food)
 Germany 29.8% (average) 0-45% 19%/7% on certain goods (e.g. food)
 Georgia[3] 20% 12% 18%
 Gibraltar 33% 17-40% N/A
 Greece 22/25% 0-40% 19%-9% certain goods
 Guatemala[3] 31% 15-31% 12%
 Guyana[11] 35%/45% 33⅓% 16%/0%
 Hong Kong[12] 16.5% 0-15% N/A N/A
 Hungary 16% 18% and 36% 50.5% 20%
 Iceland[3] 18/26% 0-36.72%[13] 6% 0/14/24.5%
 India 30-40% 10-30% 12.5%
 Indonesia 30% 5-35% 10%
 Iran 25% 0-35% N/A
 Ireland 12.5% 20-41% 16.75% 21.5%
 Israel 27% 10-47% 15.5%
 Italy 31.4% 23-43% 20%-4% on some goods (foods, books)
 Japan 30% 5-40% 5% (consumption)
 Jordan[3] 15/25/35% 5-30% 16% (GST)
 South Korea[3] 13/25% 9%-21.375% + 36% excess 10%
 Latvia 15% 23% 33% 21%
 Lebanon[3] 15/4-21% 2-20% 10%
 Lithuania 20% 21% 34% 19%
 Luxembourg 29.63% 6-38.95% 15%
 Malaysia 26% 0-28% 5% GTS
 Malta 35% 0-35% 18%
 Mexico 28% 3-29% 15%
 Monaco 33.33% 0%[14] 19.6%
 Montenegro 9% 15% 17%
 Morocco 35% 0-41.5% 20%
 Nepal N/A 10-25%[15] 13%[16]
 Netherlands 20/25.5% 0-52% 19% (6% for essential and selected goods)
 New Zealand 30% 12.5-38%[17] 12.5% (GST)
 Norway 28% 0-47.8% 14% 25% 14% for some goods
 Pakistan 35% 7.5-35% 16%
 Panama[3] 30% 0-27% 0/5%
 Peru[3] 27% 15-27% 2/19%
 Philippines 35% 5-32% 0 ; 7 ; 12%

(in some cases, foreign investors are zero-rated)
 Poland 19% 18-32% 41.11% 22%, 7% (reduced rate on certain goods)
 Portugal 12.5-27.5% 10.5-40% 20%

(reduced rates on certain goods -- 5% or 12%)
 Romania 16% 16% 45.15% 19% (9% hotel accomodation ...)
 Russia 20% 13% 18%, 10% and 0%

(reduced rates are for certain goods)
 Saudi Arabia[18] 20%-85%
11% Social security		 Residents 2.5% Zakat
Non-residents 20%		 N/A
 Senegal[3] 33% up to 50% 20%
 Serbia 10% 10-14% 35.8%[19] 18%, 8% and 0%

(reduced rates are for certain goods)
 Singapore 18% (17% as of FY 2010)[20] 3.5%-20% 7% (GST)
 Slovakia 19% 19% 19%
 Slovenia 22% 16-41% 20%
 South Africa 28%[21] 18-40% 14%
 Spain 25-30% 0-42% 16%
 Sweden 26.3%[22] 28.89%-59.09%[23][24] 32.42%[25] 25%. 12% and 6% for some goods.[26]
 Switzerland[3] 13-25% 0-13.2% (federal) 3.6/2.4/7.6%
 Syria[3] 10-45% 5-15% Debuts in 2008
 Republic of China 25% 6-40% 5%
 Tanzania 30% 15-30%
 Thailand 30% 5-37% 7%
 Tunisia[3] 30% 0-35% 6/12/18%
 Turkey 20% 15-35% 18%
 Ukraine[3] 25% 13%[27] 20%
 United Arab Emirates[3] N/A 0% [28] N/A
 United Kingdom [29] 21-28% 0-50% 23.8% (National Insurance) 0%/5%/17.5%* (*Temporarily 15% until January 2010)
 United States[30][31][32][33][34] 15-39% (federal)
0-12% (state)		 0-35% (federal)
0-10.3% (state)
 15.3% (federal) 0-10.25% (state and local)
 Uruguay[3] 30% 0-25% 23%
 Uzbekistan[3] 12% 13-30% 10-20%
 Venezuela[3] 15/22/34% 6-34% 8-10%/9%, will raise to 12% beginning April 1, 2009
 Vietnam 28% 0-40% 10%
 British Virgin Islands N/A 0% [35] 10-14% N/A
 Zambia 35% 10-30% 17.5%

[edit] See also

The CIT rate in Vietnam has been reduced to 25% from 2009.

[edit] Notes

  1. ^ High Corporate Tax Rate Is Misleading - Igor Greenwald
  2. ^ "OECD Tax Database". Organisation for Economic Co-operation and Development. http://www.oecd.org/document/60/0,2340,en_2649_34533_1942460_1_1_1_1,00.html. Retrieved on 2007-01-30. 
  3. ^ a b c d e f g h i j k l m n o p q r s t u v w x y FITA
  4. ^ International Tax and Business Guides - Economic Data - Statistics - Tax - EIU - The Economist - Foreign Investment - Deloitte Touche Tohmatsu
  5. ^ Income Tax and Fiscal Incentives
  6. ^ Index of Economic Freedom
  7. ^ Individual income tax rates, from Canada Revenue Agency official site: [1]. Quebec has a separate income tax system: [2]. Both indicate 2008 individual rates; accessed April 22, 2009.
  8. ^ Servicio de Impuestos Internos
  9. ^ Croatia - Taxation
  10. ^ Ministeriet for Videnskab, Teknologi og Udvikling
  11. ^ Ram & McRae's Investors Information Package
  12. ^ 2008-09 Budget - Tax Concessions
  13. ^ Invest in Iceland Agency - Taxation in Iceland
  14. ^ http://www.globalpropertyguide.com/Europe/Monaco/Taxes-and-Costs
  15. ^ UN salaries, tax - Nepali Times
  16. ^ eKantipur.com
  17. ^ "Weekly and fortnightly PAYE deduction tables 2010 (IR 340)". Inland Revenue Department. April 2009. http://www.ird.govt.nz/resources/3/9/39e511004d4161d5859eeddd1742e7df/ir340-apr09.pdf. Retrieved on 2009-04-28. 
  18. ^ International Tax and Business Guides - Economic Data - Statistics - Tax - EIU - The Economist - Foreign Investment - Deloitte Touche Tohmatsu
  19. ^ Investing in Serbia; Competitive Taxes: Social Insurance Contributions: SIEPA
  20. ^ [http://www.channelnewsasia.com/stories/singaporelocalnews/view/404196/1/.html/ Singapore corporate tax reduced to 17%]
  21. ^ South Africa budget
  22. ^ Belopp och procent - inkomstår 2008/taxeringsår 2009 | Skatteverket
  23. ^ Högsta och lägsta kommunalskatten 2008 - Statistik från SCB
  24. ^ Belopp och procent - inkomstår 2008/taxeringsår 2009 | Skatteverket
  25. ^ Socialavgifter för inkomstår 2008 | Skatteverket
  26. ^ VAT rates Sweden - Skatteverket
  27. ^ Hoover: The Flat Tax Spreads to Ukraine
  28. ^ http://mofpi.nic.in/ficci_data/uae.pdf
  29. ^ HM Revenue & Customs Budget 2008 Press Notice PN02
  30. ^ U.S. Federal Individual Income Tax Rates History, 1913-2008, Tax Foundation, January 7, 2008
  31. ^ State Corporate Income Tax Rates, Tax Foundation, January 26, 2007
  32. ^ State Individual Income Tax Rates, 2007, Tax Foundation, February 3, 2008
  33. ^ State and Local Sales and Use Taxes and Internet Commerce, CRS Report for Congress, Steven Maguire, January 28, 2005
  34. ^ [3], Chicago Cook County Board Approves 1% Sales Tax Hike, March 1, 2008,
  35. ^ http://en.wikipedia.org/wiki/Taxation_in_the_British_Virgin_Islands

[edit] External links

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