Income Tax Rates
What is Income Tax
An income tax is a tax levied on the income of individuals or business (corporations
or other legal entities).
No matter where you live, odds are that you will be required to pay a tax of some
sort. However, the actual percentage rate you will be taxes can vary greatly from
country to country.
Tax Free Country : United Arab Emirates
When was Income Tax introduced?
In early times, the government often taxed a variety of goods and activities, including
property, trade, and sometimes wealth. Administrators in England attempted to collect
the first true Income-Tax, a tax on wages, in
1404, but the public quickly demanded its repeal, and all tax records
were burned. Britain introduced I-T for the second time in 1799. This tax raised
revenues for the Napoleonic Wars against France. But it was repealed in 1816. In
1842, Britain introduced another Income-Tax. By the end of the 19th century, Germany,
the Netherlands, Sweden, Switzerland and Canada also introduced Income-Tax.
List of corporate and income tax rates and VAT/GST around the world
|
Country
|
Income tax
|
VAT/GST
|
|
Corporate
|
Individual
|
|
Algeria
|
25%
|
0-40%
|
21%
|
|
Argentina
|
35%
|
9-35%
|
21%
|
|
Australia
|
30%
|
0-45%
|
10% Goods and Services Tax
|
|
Austria
|
25%
|
21-50%
|
20% GST
|
|
Azerbaijan
|
24%
|
0-35%
|
18%
|
|
Bangladesh
|
40%
|
—
|
15%
|
|
Belarus
|
24%
|
9-30%
|
18%
|
|
Belgium
|
33.99%
|
25-50%
|
21%
|
|
Bosnia & Herzegovina
|
30%
|
5%
|
17%
|
|
Brazil
|
34%
|
15-27.5%
|
17-25%
|
|
Bulgaria
|
10%
|
10-24%
|
20%
|
|
Cameroon
|
38.5%
|
10-35%
|
18.7%
|
|
Canada
|
36.10%
|
15-29% (federal)
|
6% Goods and Services Tax, plus Provincial Sales Tax (which varies from Province
to Province. 8% in Ontario for example).
|
|
Chile
|
17%
|
0-40%
|
19%
|
|
China
|
25%
|
5-45%
|
17%
|
|
Colombia
|
35%
|
0-35%
|
16%
|
|
Croatia
|
20%
|
15-45%
|
22%
|
|
Cuba
|
30%
|
10-50%
|
—
|
|
Cyprus
|
10%
|
20-30%
|
15%
|
|
Czech Republic
|
24%
|
12-32%
|
19% / 5% on selected goods and services
|
|
Denmark
|
22%
|
38-59%
|
25%
|
|
Egypt
|
40%
|
20-40%
|
—
|
|
Estonia
|
22%
|
22%
|
18%
|
|
Finland
|
26%
|
25-53%
|
22%
|
|
France
|
33.33%
|
5.5-40%
|
2.1%/5.5%/19.60%
|
|
Germany
|
25% (federal)
|
15-42%
|
19%
|
|
Greece
|
22/29%
|
0-40%
|
19%
|
|
Guatemala
|
31%
|
15-31%
|
12%
|
|
Guyana
|
35-45%
|
33.3%
|
16%
|
|
Hong Kong
|
17.50%
|
16-20%
|
—
|
|
Hungary
|
16%
|
18-36%
|
20%
|
|
Iceland
|
18/26%
|
0-45.58%
|
24.5%
|
|
India
|
30-40%
|
10-30%
|
12.50%
|
|
Indonesia
|
30%
|
5-35%
|
10%
|
|
Ireland
|
12.50%
|
20-41%
|
21%
|
|
Israel
|
31%
|
10-49%
|
15.50%
|
|
Italy
|
37.25%
|
23-45%
|
20%
|
|
Japan
|
30%
|
10-37%
|
5% (consumption tax)
|
|
Jordan
|
15/25/35%
|
5-30%
|
13% GST
|
|
Latvia
|
15%
|
25%
|
18%
|
|
Lebanon
|
15/4-21%
|
2-20%
|
10%
|
|
Lithuania
|
15%
|
10-35%
|
18%
|
|
Luxembourg
|
29.63%
|
6-38.95%
|
15%
|
|
Malaysia
|
27%
|
0-28%
|
5 - 10% Service/Sales Tax
|
|
Malta
|
35%
|
15-35%
|
18%
|
|
Mexico
|
28%
|
3-29%
|
15%
|
|
Monaco
|
33.33%
|
0%
|
19.60%
|
|
Montenegro
|
9%
|
15% (12% in 2009, 9% in 2010)
|
17% (7% for certain goods and services)
|
|
Morocco
|
35%
|
0-41.5%
|
20% for goods / 14% for services
|
|
Netherlands
|
25.5%
|
34,15-52%
|
19% (6% for certain goods)
|
|
New Zealand
|
33%
|
0-39%
|
12.5% GST
|
|
Norway
|
28%
|
28-51.3%
|
25%
|
|
Pakistan
|
35%
|
7.5-35%
|
15%
|
|
Panama
|
30%
|
0-30%
|
5%
|
|
Peru
|
27%
|
15-30%
|
19%
|
|
Philippines
|
35%
|
5-32%
|
12%
|
|
Poland
|
19%
|
19-40%
|
22%
|
|
Portugal
|
27.50%
|
10.5-42%
|
21%
|
|
Romania
|
16%
|
16%
|
19%
|
|
Russia
|
24%
|
13%
|
18%
|
|
Saudi Arabia
|
20%
|
20%
|
—
|
|
Senegal
|
33%
|
0-50%
|
20%
|
|
Serbia
|
10%
|
10/14%
|
18%
|
|
Singapore
|
18% (20% through YA 2007)
|
0-20%
|
7% GST
|
|
Slovakia
|
19%
|
19%
|
19%
|
|
Slovenia
|
25%
|
16-50%
|
20%
|
|
South Africa
|
29%
|
18-40%
|
14%
|
|
South Korea
|
13/25%
|
9-36%
|
10%
|
|
Spain
|
35%
|
15-45%
|
16%
|
|
Sweden
|
28%
|
30-55%
|
25%
|
|
Switzerland
|
13-25%
|
0-45.5%
|
7.6%
|
|
Syria
|
10-45%
|
5-15%
|
—
|
|
Taiwan
|
25%
|
6-40%
|
5%
|
|
Thailand
|
30%
|
5-37%
|
7%
|
|
Tunisia
|
30%
|
0-35%
|
12-18%
|
|
Turkey
|
20%
|
15-35%
|
18%
|
|
Ukraine
|
30%
|
0-40%
|
20%
|
|
United Arab Emirates
|
0%
|
0%
|
0%
|
|
United Kingdom
|
30%
|
0-40%
|
0% / 5% / 17.50%
|
|
United States
|
15-35%
|
0-35%
|
0-9.75% in state & local sales tax (not VAT); typically around 8.5%, but up
to 16.75% when including other taxes
|
|
Uruguay
|
30%
|
—
|
23%
|
|
Uzbekistan
|
18%
|
13-30%
|
20%
|
|
Venezuela
|
15/22/34%
|
6-34%
|
14%
|
|
Vietnam
|
28%
|
0-40%
|
10%
|
|
Zambia
|
35%
|
10-30%
|
17.50%
|