I-T rate in India and around the world
 |
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
Click NEXT to read more...
Image: Attendants welcome guests inside Galaxy Macau during its opening.
Photographs: Bobby Yip/Reuters
I-T rate in India and around the world
|
|
Belgium
Effective income tax rate: 33.9 per cent
Effective employee social security rate: 13.1 per cent
Global rank: 1
Click NEXT to read more...
Image: Tourists walk in Brussels' Royal Galleries of Saint Hubert.
Photographs: Sebastien Pirlet/Reuters
I-T rate in India and around the world
|
|
Greece
Effective income tax rate: 30.0 per cent
Effective employee social security rate: 16.5 per cent
Global rank: 2
Click NEXT to read more...
Image: Tourists watch a performance of the Changing of the Guard Ceremony in front the Greek Parliament Building in Athens.
Photographs: Pascal Rossignol/Reuters
I-T rate in India and around the world
|
|
Croatia
Effective income tax rate: 26.8 per cent
Effective employee social security rate: 19.5 per cent
Global rank: 3
Click NEXT to read more...
Image: Tourists walk out of Old Town in Dubrovnik.
Photographs: Antonio Bronic/Reuters
I-T rate in India and around the world
|
|
Italy
Effective income tax rate: 35.6 per cent
Effective employee social security rate: 9.6 per cent
Global rank: 4
Click NEXT to read more...
Image: An aerial view of St Peter's Square in Rome.
Photographs: Alessandro Bianchi/Reuters
I-T rate in India and around the world
|
|
Germany
Effective income tax rate: 28.3 per cent
Effective employee social security rate: 15.5 per cent
Global rank: 5
Click NEXT to read more...
Image: Pedestrians enjoy the sun and warm weather during a walk along the river Main in Frankfurt.
Photographs: Ralph Orlowski/Reuters
I-T rate in India and around the world
|
|
Denmark
Effective income tax rate: 42.1 per cent
Effective employee social security rate: 0.2 per cent
Global rank: 6
Click NEXT to read more...
Image: Boats are seen anchored at the 17th century Nyhavn district, home to many shops and restaurants in Copenhagen.
Photographs: Bob Strong/Reuters
I-T rate in India and around the world
|
|
Curacao
Effective income tax rate: 38.6 per cent
Effective employee social security rate: 3.4 per cent
Global rank: 7
Click NEXT to read more...
Image: Willemstad harbour in Curacao.
Photographs: Source: Wikipedia
I-T rate in India and around the world
|
|
France
Effective income tax rate: 20.0 per cent
Effective employee social security rate: 22 per cent
Global rank: 8
Click NEXT to read more...
Image: Skaters enjoy the ice on a giant ice rink at the Grand Palais exhibition hall in Paris.
Photographs: Charles Platiau/Reuters
I-T rate in India and around the world
|
|
Senegal
Effective income tax rate: 42.0 per cent
Effective employee social security rate: 0.0 per cent
Global rank: 9
Click NEXT to read more...
Image: Drummers and dancers on Goree Island off Senegal's capital Dakar.
Photographs: Finbarr O'Reilly/Reuters
I-T rate in India and around the world
|
|
Sint Maarten
Effective income tax rate: 37.4 per cent
Effective employee social security rate: 3.1 per cent
Global rank: 10
Click NEXT to read more...
Image: A small jet flies over Maho Beach in Sint Maarten.
Photographs: Source: Patrick Hawks/Wikipedia
I-T rate in India and around the world
|
|
Luxembourg
Effective income tax rate: 27.9 per cent
Effective employee social security rate: 12.5 per cent
Global rank: 11
Click NEXT to read more...
Image: A woman reads during sunny day in the city of Luxembourg.
Photographs: Francois Lenoir/Reuters
I-T rate in India and around the world
|
|
The Netherlands
Effective income tax rate: 28.5 per cent
Effective employee social security rate: 11.8 per cent
Global rank: 12
Click NEXT to read more...
Image: Cyclists visit a Dutch tulip field in Noordwijk.
Photographs: Michael Kooren/Reuters
I-T rate in India and around the world
|
|
Portugal
Effective income tax rate: 28.9 per cent
Effective employee social security rate: 11.0 per cent
Global rank: 13
Click NEXT to read more...
Image: A passanger walks out of a Lisbon subway station decorated with sculptures.
Photographs: Jose Manuel Ribeiro/Reuters
I-T rate in India and around the world
|
|
India
Effective income tax rate: 27.3 per cent
Effective employee social security rate: 12.0 per cent
Global rank: 14
Click NEXT to read more...
Image: Shoppers leave a retail store inside a mall in Mumbai.
Photographs: Danish Siddiqui/Reuters
I-T rate in India and around the world
|
|
Norway
Effective income tax rate: 31.3 per cent
Effective employee social security rate: 7.8 per cent
Global rank: 15
Click NEXT to read more...
Image: Royal Palace at the end of Karl Johans Gate in Oslo.
Photographs: Suzanne Plunkett/Reuters
I-T rate in India and around the world
|
|
Brazil
Effective income tax rate: 27.5 per cent
Effective employee social security rate: 11.0 per cent
Global rank: 16
Click NEXT to read more...
Image: Brazilian National Congress in Brasilia.
Photographs: Ricardo Moraes/Reuters
I-T rate in India and around the world
|
|
Austria
Effective income tax rate: 24.4 per cent
Effective employee social security rate: 14.0 per cent
Global rank: 17
Click NEXT to read more...
Image: A traditional Fiaker horse carriage passes Burgtheater theatre at Dr-Karl-Lueger-Ring street in Vienna.
Photographs: Heinz-Peter Bader/Reuters
I-T rate in India and around the world
|
|
Finland
Effective income tax rate: 30.3 per cent
Effective employee social security rate: 7.7 per cent
Global rank: 18
Click NEXT to read more...
Image: Tourists take part in the reindeer safari at Arctic Circle near Rovaniemi.
Photographs: Kacper Pempel/Reuters
I-T rate in India and around the world
|
|
Bosnia and Herzegovina
Effective income tax rate: 6.5 per cent
Effective employee social security rate: 31.0 per cent
Global rank: 19
Click NEXT to read more...
Image: A view of the Old City in the southern Bosnian city of Mostar.
Photographs: Nikola Solic/Reuters
I-T rate in India and around the world
|
|
Sweden
Effective income tax rate: 36.3 per cent
Effective employee social security rate: 0.0 per cent
Global rank: 20
Click NEXT to read more...
Image: A woman struggles against wind and drifting snow in Stockholm.
Photographs: Scanpix/Reuters
I-T rate in India and around the world
|
|
Ireland
Effective income tax rate: 32.0 per cent
Effective employee social security rate: 4.0 per cent
Global rank: 21
Click NEXT to read more...
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
I-T rate in India and around the world
|
|
Latvia
Effective income tax rate: 25.0 per cent
Effective employee social security rate: 11.0 per cent
Global rank: 22
Click NEXT to read more...
Image: View of Riga's Old City in snow.
Photographs: Ints Kalnins/Reuters
I-T rate in India and around the world
|
|
Guatemala
Effective income tax rate: 31.0 per cent
Effective employee social security rate: 4.8 per cent
Global rank: 23
Click NEXT to read more...
Image: A child plays near a fountain at the Parque Central in Guatemala City.
Photographs: Daniel Leclair/Reuters
I-T rate in India and around the world
|
|
Turkey
Effective income tax rate: 29.8 per cent
Effective employee social security rate: 6.0 per cent
Global rank: 24
Click NEXT to read more...
Image: A view of Istanbul's financial district.
Photographs: Murad Sezer/Reuters
I-T rate in India and around the world
|
|
Poland
Effective income tax rate: 27.9 per cent
Effective employee social security rate: 7.4 per cent
Global rank: 25
Click NEXT to read more...
Image: Palace of Culture in Warsaw.
Photographs: Peter Andrews/Reuters
this
Users
Comment
article