international taxes

[DrLeftover]

Which country has the highest tax rate?

Tax rates do vary dramatically depending on which country you live in. The accountancy firm Price Waterhouse Coopers (PWC) has crunched the numbers for the G20 nations.

For each country, they calculated how much a high earner on a salary of $400,000 (£240,000) in 2013, with a mortgage of $1.2m (£750,000), would have left after all income tax rates and social security contributions.

They assume this person is married with two children, one of them aged under six.

These are their findings. In each country, the wage earner takes home the following proportion of his or her salary.

Italy - 50.59% (takes home $202,360 out of $400,000 salary)
India - 54.90%
United Kingdom - 57.28%
France - 58.10%
Canada - 58.13%
Japan - 58.68%
Australia - 59.30%
United States - 60.45% (based on New York state tax)
Germany - 60.61%
South Africa - 61.78%
China - 62.05%
Argentina - 64.02%
Turkey - 64.64%
South Korea - 65.75%
Indonesia - 69.78%
Mexico - 70.60%
Brazil - 73.32%
Russia - 87%
Saudi Arabia - 96.86% (so you take home $387,400 out of the $400,000 salary)

http://www.bbc.co.uk/news/magazine-26327114

 

[Nebulous's iconNebulous]

Taxes suck!

 

[WHO IS SERAFIN]

No government should be allowed to have more then 10% of my salary combined including state income and property taxes by force. Specially when we have 50% of people not paying one dime in income tax when they could contribute! Income tax needs to be abolished and either go back to what our founders designed or some kind of flat tax or sales tax.