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Tax rates in India and around the world

Last updated on: October 18, 2012 08:35 IST

Tax rates in India and around the world

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The world's highest top rates of income tax, according to KPMG, an accounting firm, are found in Aruba (58.95 per cent) and Sweden (56.6 per cent).

When employee social-security contributions are taken into consideration, though, neither country makes the top 10 for effective tax rates on gross income of $100,000, says The Economist.

Let's see where India ranks when it comes to income tax rates.

Source: The Economist

Click NEXT to see tax rates in India...


Image: Shoppers walk down Fifth Avenue in New York.
Photographs: Chip East/Reuters
Tags: KPMG , India , Aruba , Sweden

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Tax rates in India and around the world

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India

Tax on gross income of $100,000: 28 per cent

Employee social-security contribution: 12 per cent

Global rank: 7

Click NEXT to see rest of the countries...


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

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Belgium

Tax on gross income of $100,000: 34 per cent

Employee social-security contribution: 13 per cent

Global rank: 1

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Image: Guests enjoy a 'dinner in the sky' on a platform hanging in front of the Royal Palace in Brussels.
Photographs: Sebastien Pirlet/Reuters
Tags: , Tax , India , Belgium

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Greece

Tax on gross income of $100,000: 30 per cent

Employee social-security contribution: 16 per cent

Global rank: 2

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Image: Tourists sit on a hill overlooking Athens outside the archaeological site of the Acropolis.
Photographs: Yannis Behrakis/Reuters
Tags: , Tax , Greece , India

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Italy

Tax on gross income of $100,000: 35 per cent

Employee social-security contribution: 9 per cent

Global rank: 3

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Image: A view of Duomo cathedral in Milan.
Photographs: Stefano Rellandini/Reuters
Tags: , Italy , India

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Germany

Tax on gross income of $100,000: 27 per cent

Employee social-security contribution: 16 per cent

Global rank: 4

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Image: Potsdamer Street in Berlin.
Photographs: Thomas Peter/Reuters
Tags: , Germany Tax , India

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Denmark

Tax on gross income of $100,000: 42 per cent

Employee social-security contribution: 1 per cent

Global rank: 5

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Image: A dog sits as he waits next to his owner to cross a street in Copenhagen.
Photographs: Radu Sigheti/Reuters
Tags: , Denmark , India

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France

Tax on gross income of $100,000: 20 per cent

Employee social-security contribution: 21 per cent

Global rank: 6

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Image: A cyclist rides past the Orsay Museum in Paris.
Photographs: Charles Platiau/Reuters
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Brazil

Tax on gross income of $100,000: 27 per cent

Employee social-security contribution: 10 per cent

Global rank: 8

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Image: Juscelino Kubitschek Bridge in Brasilia.
Photographs: Ricardo Moraes/Reuters
Tags: , India

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Sweden

Tax on gross income of $100,000: 36 per cent

Employee social-security contribution: zero per cent

Global rank: 9

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Image: People stroll in a Stockholm park.
Photographs: Scanpix/Reuters
Tags: , India , Sweden

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Spain

Tax on gross income of $100,000: 32 per cent

Employee social-security contribution: 3 per cent

Global rank: 10

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Image: Tourists stroll along Barcelona's harbour in Barcelona.
Photographs: Gustau Nacarino/Reuters
Tags: , Tax , Spain , India

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The United Kingdom

Tax on gross income of $100,000: 24 per cent

Employee social-security contribution: 8 per cent

Global rank: 11

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Image: Traffic passes the Houses of Parliament in London.
Photographs: Suzanne Plunkett/Reuters

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Japan

Tax on gross income of $100,000: 14 per cent

Employee social-security contribution: 13 per cent

Global rank: 12

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Image: Japan's Mt Fuji, covered with snow, is seen through Shinjuku skyscrapers in Tokyo.
Photographs: Kimimasa Mayama/Reuters
Tags: , Japan Tax , India

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Australia

Tax on gross income of $100,000: 26 per cent

Employee social-security contribution: 2 per cent

Global rank: 13

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Image: Rowers train at dawn on the Yarra River in Melbourne.
Photographs: Toby Melville/Reuters
Tags: , Tax , India , Australia

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The United States

Tax on gross income of $100,000: 18 per cent

Employee social-security contribution: 7 per cent

Global rank: 14

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Image: The Brooklyn Bridge and Manhattan Bridge is seen from the 90th storey of One World Trade Center in New York.
Photographs: Lucas Jackson/Reuters
Tags: , United States , Tax , India

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China

Tax on gross income of $100,000: 23 per cent

Employee social-security contribution: 3 per cent

Global rank: 15

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Image: An aerial view shows vehicles travelling on intersections at night in downtown Shanghai.
Photographs: Aly Song/Reuters
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Egypt

Tax on gross income of $100,000: 20 per cent

Employee social-security contribution: 1 per cent

Global rank: 16

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Image: A view of the Nile river flowing through Cairo.
Photographs: Aladin Abdel Naby/Reuters
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Switzerland

Tax on gross income of $100,000: 13 per cent

Employee social-security contribution: 4 per cent

Global rank: 17

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Image: Zurich's main shopping street Bahnhofstrasse.
Photographs: Arnd Wiegmann/Reuters
Tags: , Switzerland , India

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Hong Kong

Tax on gross income of $100,000: 14 per cent

Employee social-security contribution: zero per cent

Global rank: 18


Image: A view of Hong Kong.
Photographs: Bobby Yip/Reuters
Tags: India

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