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This article was first published 11 years ago

I-T rate in India and around the world

Last updated on: January 10, 2013 14:29 IST

Image: Attendants welcome guests inside Galaxy Macau during its opening.
Photographs: Bobby Yip/Reuters

A country's personal income tax rate is only one indicator of how much tax an individual actually ends up paying on their income, according to a report by KPMG.

"Our broader analysis further emphasizes the point that other taxes and the impact of deductions clearly need to be considered... Interestingly, the difference between top tax rates and effective combined tax and employee social security rates shows that neither of the two countries with the largest top marginal tax rates (Aruba and Sweden) feature among the top five countries when we use either $100,000 or $300,000 as a basis for comparison," write the authors.

For someone with a gross income of $100,000 a year, these are some of the countries in which they would have to shell out the most for, tax and social security combined. The United States is much further down the list, being the 55th most expensive country on the list, according to Business Insider.

Let's take a look at effective income tax and Social Security rates on $100,000 of gross income around the world, including India.

Source: Business Insider

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I-T rate in India and around the world

Image: Tourists walk in Brussels' Royal Galleries of Saint Hubert.
Photographs: Sebastien Pirlet/Reuters

Belgium

Effective income tax rate: 33.9 per cent

Effective employee social security rate: 13.1 per cent

Global rank: 1

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Tags: , I-T , India

I-T rate in India and around the world

Image: Tourists watch a performance of the Changing of the Guard Ceremony in front the Greek Parliament Building in Athens.
Photographs: Pascal Rossignol/Reuters

Greece

Effective income tax rate: 30.0 per cent

Effective employee social security rate: 16.5 per cent

Global rank: 2

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Tags: , I-T , India

I-T rate in India and around the world

Image: Tourists walk out of Old Town in Dubrovnik.
Photographs: Antonio Bronic/Reuters

Croatia

Effective income tax rate: 26.8 per cent

Effective employee social security rate: 19.5 per cent

Global rank: 3

...

Tags: , I-T , Croatia , India

I-T rate in India and around the world

Image: An aerial view of St Peter's Square in Rome.
Photographs: Alessandro Bianchi/Reuters

Italy

Effective income tax rate: 35.6 per cent

Effective employee social security rate: 9.6 per cent

Global rank: 4

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Tags: , I-T , Italy , India

I-T rate in India and around the world

Image: Pedestrians enjoy the sun and warm weather during a walk along the river Main in Frankfurt.
Photographs: Ralph Orlowski/Reuters

Germany

Effective income tax rate: 28.3 per cent

Effective employee social security rate: 15.5 per cent

Global rank: 5

...

Tags: , I-T , Germany , India

I-T rate in India and around the world

Image: Boats are seen anchored at the 17th century Nyhavn district, home to many shops and restaurants in Copenhagen.
Photographs: Bob Strong/Reuters

Denmark

Effective income tax rate: 42.1 per cent

Effective employee social security rate: 0.2 per cent

Global rank: 6

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Tags: , I-T , India

I-T rate in India and around the world

Image: Willemstad harbour in Curacao.
Photographs: Source: Wikipedia

Curacao

Effective income tax rate: 38.6 per cent

Effective employee social security rate: 3.4 per cent

Global rank: 7

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Tags: , I-T , India

I-T rate in India and around the world

Image: Skaters enjoy the ice on a giant ice rink at the Grand Palais exhibition hall in Paris.
Photographs: Charles Platiau/Reuters

France

Effective income tax rate: 20.0 per cent

Effective employee social security rate: 22 per cent

Global rank: 8

...

Tags: , I-T , France , India

I-T rate in India and around the world

Image: Drummers and dancers on Goree Island off Senegal's capital Dakar.
Photographs: Finbarr O'Reilly/Reuters

Senegal

Effective income tax rate: 42.0 per cent

Effective employee social security rate: 0.0 per cent

Global rank: 9

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Tags: , I-T , Senegal , India

I-T rate in India and around the world

Image: A small jet flies over Maho Beach in Sint Maarten.
Photographs: Source: Patrick Hawks/Wikipedia

Sint Maarten

Effective income tax rate: 37.4 per cent

Effective employee social security rate: 3.1 per cent

Global rank: 10

...

Tags: , I-T , India

I-T rate in India and around the world

Image: A woman reads during sunny day in the city of Luxembourg.
Photographs: Francois Lenoir/Reuters

Luxembourg

Effective income tax rate: 27.9 per cent

Effective employee social security rate: 12.5 per cent

Global rank: 11

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I-T rate in India and around the world

Image: Cyclists visit a Dutch tulip field in Noordwijk.
Photographs: Michael Kooren/Reuters

The Netherlands

Effective income tax rate: 28.5 per cent

Effective employee social security rate: 11.8 per cent

Global rank: 12

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Tags: , I-T , India

I-T rate in India and around the world

Image: A passanger walks out of a Lisbon subway station decorated with sculptures.
Photographs: Jose Manuel Ribeiro/Reuters

Portugal

Effective income tax rate: 28.9 per cent

Effective employee social security rate: 11.0 per cent

Global rank: 13

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Tags: , I-T , Portugal , India

I-T rate in India and around the world

Image: Shoppers leave a retail store inside a mall in Mumbai.
Photographs: Danish Siddiqui/Reuters

India

Effective income tax rate: 27.3 per cent

Effective employee social security rate: 12.0 per cent

Global rank: 14

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Tags: , I-T , India

I-T rate in India and around the world

Image: Royal Palace at the end of Karl Johans Gate in Oslo.
Photographs: Suzanne Plunkett/Reuters

Norway

Effective income tax rate: 31.3 per cent

Effective employee social security rate: 7.8 per cent

Global rank: 15

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Tags: , I-T , India , Norway

I-T rate in India and around the world

Image: Brazilian National Congress in Brasilia.
Photographs: Ricardo Moraes/Reuters

Brazil

Effective income tax rate: 27.5 per cent

Effective employee social security rate: 11.0 per cent

Global rank: 16

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Tags: , I-T , India

I-T rate in India and around the world

Image: A traditional Fiaker horse carriage passes Burgtheater theatre at Dr-Karl-Lueger-Ring street in Vienna.
Photographs: Heinz-Peter Bader/Reuters

Austria

Effective income tax rate: 24.4 per cent

Effective employee social security rate: 14.0 per cent

Global rank: 17

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Tags: , I-T , Austria , India

I-T rate in India and around the world

Image: Tourists take part in the reindeer safari at Arctic Circle near Rovaniemi.
Photographs: Kacper Pempel/Reuters

Finland

Effective income tax rate: 30.3 per cent

Effective employee social security rate: 7.7 per cent

Global rank: 18

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Tags: , I-T , India , Finland

I-T rate in India and around the world

Image: A view of the Old City in the southern Bosnian city of Mostar.
Photographs: Nikola Solic/Reuters

Bosnia and Herzegovina

Effective income tax rate: 6.5 per cent

Effective employee social security rate: 31.0 per cent

Global rank: 19

...

I-T rate in India and around the world

Image: A woman struggles against wind and drifting snow in Stockholm.
Photographs: Scanpix/Reuters

Sweden

Effective income tax rate: 36.3 per cent

Effective employee social security rate: 0.0 per cent

Global rank: 20

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Tags: , I-T , India , Sweden

I-T rate in India and around the world

Image: A woman cycles past the 'Coffee To Get Her' restaurant near Dublin city centre, which becomes a bar and club in the evenings.
Photographs: Cathal McNaughton/Reuters

Ireland

Effective income tax rate: 32.0 per cent

Effective employee social security rate: 4.0 per cent

Global rank: 21

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Tags: , I-T , India , Ireland

I-T rate in India and around the world

Image: View of Riga's Old City in snow.
Photographs: Ints Kalnins/Reuters

Latvia

Effective income tax rate: 25.0 per cent

Effective employee social security rate: 11.0 per cent

Global rank: 22

...

Tags: , I-T , India , Latvia

I-T rate in India and around the world

Image: A child plays near a fountain at the Parque Central in Guatemala City.
Photographs: Daniel Leclair/Reuters

Guatemala

Effective income tax rate: 31.0 per cent

Effective employee social security rate: 4.8 per cent

Global rank: 23

...

Tags: , I-T , India , Guatemala

I-T rate in India and around the world

Image: A view of Istanbul's financial district.
Photographs: Murad Sezer/Reuters

Turkey

Effective income tax rate: 29.8 per cent

Effective employee social security rate: 6.0 per cent

Global rank: 24

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Tags: , I-T , Turkey , India

I-T rate in India and around the world

Image: Palace of Culture in Warsaw.
Photographs: Peter Andrews/Reuters

Poland

Effective income tax rate: 27.9 per cent

Effective employee social security rate: 7.4 per cent

Global rank: 25

...

Tags: , I-T , Poland , India

I-T rate in India and around the world

Image: Tourists stroll along Barcelona's harbour.
Photographs: Gustau Nacarino/Reuters

Spain

Effective income tax rate: 32.0 per cent

Effective employee social security rate: 3.3 per cent

Global rank: 26

Tags: I-T , Spain , India