It seems that Americans (and particularly those who vote Republican) arealways complaining about how much they pay in personal income taxes. Frankly, however, they have absolutely nothing to complain about when compared to what the citizens of almost all other countries pay. Words: 471
This synopsis has been put together by Lorimer Wilson, editor of www.munKNEE.com(Your Key to Making Money!) from KPMG’s 84-page International Individual Income Tax and Social Security Rate Report to ensure you a fast and easy read. This paragraph must be included in any article re-posting to avoid copyright infringement.
Rather than report on all 96 countries covered in the report I have limited coverage to those countries from which most of the visitors to this site come from plus some other countries that have been very much in the news lately.
What you see below is a ranking of the tax rates of the 20 countries selected, in ascending order (that is, from lesser to greater), based on the combined effective income tax and social security rate on the equivalent of USD100,000 and on the equivalent of USD300,000 followed by the ranking at that income level:
These 11 Countries Have Low Tax Rates at Both USD100,000 & USD300,000 Income Levels
- Switzerland: 17.7% and 31.5% (4th)
- Singapore: 20.0% and 18.5% (1st)
- U.S.A.: 24.3% and 29.8% (2nd)
- Australia: 25.3% and 37.2% (7th)
- China: 26.0% and 36.5% (6th)
- New Zealand: 27.4% and 31.1% (3rd)
- Japan: 28.3% and 37.8% (8th)
- Canada: 30.3% and 40.8% (10th)
- U.K.: 31.0% and 41.6% (11th)
- Spain: 31.7% and 39.2% (9th)
- Malaysia: 31.8% and 35.3% (5th)
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