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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 But it was repealed in 1816.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%


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