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I-T rate in India and around the world

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

I-T rate in India and around the world

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

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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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Image: Tourists walk in Brussels' Royal Galleries of Saint Hubert.
Photographs: Sebastien Pirlet/Reuters
Tags: , I-T , India

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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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Image: Tourists watch a performance of the Changing of the Guard Ceremony in front the Greek Parliament Building in Athens.
Photographs: Pascal Rossignol/Reuters
Tags: , I-T , India

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Croatia

Effective income tax rate: 26.8 per cent

Effective employee social security rate: 19.5 per cent

Global rank: 3

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Image: Tourists walk out of Old Town in Dubrovnik.
Photographs: Antonio Bronic/Reuters
Tags: , I-T , Croatia , India

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I-T rate in India and around the world

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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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Image: An aerial view of St Peter's Square in Rome.
Photographs: Alessandro Bianchi/Reuters
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I-T rate in India and around the world

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Germany

Effective income tax rate: 28.3 per cent

Effective employee social security rate: 15.5 per cent

Global rank: 5

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Image: Pedestrians enjoy the sun and warm weather during a walk along the river Main in Frankfurt.
Photographs: Ralph Orlowski/Reuters
Tags: , I-T , Germany , India

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I-T rate in India and around the world

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

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

Effective income tax rate: 20.0 per cent

Effective employee social security rate: 22 per cent

Global rank: 8

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Image: Skaters enjoy the ice on a giant ice rink at the Grand Palais exhibition hall in Paris.
Photographs: Charles Platiau/Reuters
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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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Image: Drummers and dancers on Goree Island off Senegal's capital Dakar.
Photographs: Finbarr O'Reilly/Reuters
Tags: , I-T , Senegal , India

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Sint Maarten

Effective income tax rate: 37.4 per cent

Effective employee social security rate: 3.1 per cent

Global rank: 10

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Image: A small jet flies over Maho Beach in Sint Maarten.
Photographs: Source: Patrick Hawks/Wikipedia
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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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Image: A woman reads during sunny day in the city of Luxembourg.
Photographs: Francois Lenoir/Reuters

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I-T rate in India and around the world

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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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Image: Cyclists visit a Dutch tulip field in Noordwijk.
Photographs: Michael Kooren/Reuters
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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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Image: A passanger walks out of a Lisbon subway station decorated with sculptures.
Photographs: Jose Manuel Ribeiro/Reuters
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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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Image: Shoppers leave a retail store inside a mall in Mumbai.
Photographs: Danish Siddiqui/Reuters
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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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Image: Royal Palace at the end of Karl Johans Gate in Oslo.
Photographs: Suzanne Plunkett/Reuters
Tags: , I-T , India , Norway

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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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Image: Brazilian National Congress in Brasilia.
Photographs: Ricardo Moraes/Reuters
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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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Image: A traditional Fiaker horse carriage passes Burgtheater theatre at Dr-Karl-Lueger-Ring street in Vienna.
Photographs: Heinz-Peter Bader/Reuters
Tags: , I-T , Austria , India

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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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Image: Tourists take part in the reindeer safari at Arctic Circle near Rovaniemi.
Photographs: Kacper Pempel/Reuters
Tags: , I-T , India , Finland

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Bosnia and Herzegovina

Effective income tax rate: 6.5 per cent

Effective employee social security rate: 31.0 per cent

Global rank: 19

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

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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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Image: A woman struggles against wind and drifting snow in Stockholm.
Photographs: Scanpix/Reuters
Tags: , I-T , India , Sweden

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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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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
Tags: , I-T , India , Ireland

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Latvia

Effective income tax rate: 25.0 per cent

Effective employee social security rate: 11.0 per cent

Global rank: 22

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Image: View of Riga's Old City in snow.
Photographs: Ints Kalnins/Reuters
Tags: , I-T , India , Latvia

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Guatemala

Effective income tax rate: 31.0 per cent

Effective employee social security rate: 4.8 per cent

Global rank: 23

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Image: A child plays near a fountain at the Parque Central in Guatemala City.
Photographs: Daniel Leclair/Reuters
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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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Image: A view of Istanbul's financial district.
Photographs: Murad Sezer/Reuters
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Poland

Effective income tax rate: 27.9 per cent

Effective employee social security rate: 7.4 per cent

Global rank: 25

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

Effective income tax rate: 32.0 per cent

Effective employee social security rate: 3.3 per cent

Global rank: 26


Image: Tourists stroll along Barcelona's harbour.
Photographs: Gustau Nacarino/Reuters
Tags: I-T , Spain , India

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