List of countries by tax rates.
Country | Corporate Tax | Individual Income Tax (Low) | Individual Income Tax (High) | VAT or GST | Capital Gain | |
---|---|---|---|---|---|---|
Afghanistan | 20% | 0% | 20% | 0% | N/A | |
Albania | 15% | 0% | 23% | 20% (standard rate) 6% (tourism services) | N/A | |
Algeria | 26% (highest rate) 19% (lowest rate) | 0% | 35% | 19% (standard rate) | N/A | |
American Samoa | 34% | 4% | 6% | 0% | N/A | |
Andorra | 10% | 0% | 10% | 4.5% (standard rate) 9.5% (banking services) 2.5%, 1% or 0% (reduced rates) | N/A | |
Angola | 30% | 0% | 17% | 10% | N/A | |
Anguilla | 0% | 0% | 0% | Taxation in Anguilla | ||
Antigua and Barbuda | 25% | 0% | 15% | N/A | ||
Argentina | 30% for residents and 15% for non residents since 2021 | 9% | 35% | 21% | N/A | |
Armenia | 18% | 22% | 22% | 20% | N/A | |
Aruba | 25% | 7% | 58.95% | 1.5% (turnover tax) | N/A | |
Australia | 30% (standard rate) 26% (base entity rate) | 0% | 45% | 10% (standard rate) 0% (essential items) | 50% | |
Austria | 25% | 0% | 55% | 20% (standard rate) 13% (tourism services) 10% (basic items) | 27.5% | |
Azerbaijan | 20% | 14% | 25% | 18% | N/A | |
Bahrain | 0% | 0% | 10% (standard rate)0% (essential goods) | Taxation in Bahrain | ||
Belize | — | 0% | 25% | 12.5% | N/A | |
Bermuda | 0% | 0% | 0% | Taxation in Bermuda | ||
Bhutan | 26% | 0% | 25% | — | N/A | |
Bolivia | 29% | 0% | 25% | 13% | N/A | |
Bosnia and Herzegovina | 10% | 10% | 17% | Taxation in Bosnia and Herzegovina | ||
Botswana | 22% | 0% | 25% | 14% | N/A | |
Brunei | 20% | 0% | — | Taxation in Brunei | ||
Bulgaria | 10% (+ 5% on distribution of profit) | 10% | 10% + 18% social security fund tax | 20% (9 percent on hotel and camping accommodation) | N/A | |
Burkina Faso | 27.5% | 0% | 25% | 18% | N/A | |
Cambodia | 20% | 0% | 20% | 10% | N/A | |
Canada | 26.5-31% (higher rate) 9-13% (lower rate) | 19% (15% federal + 4% in Nunavut) | 54% (33% federal + 21% in Nova Scotia) to 44.5% (33% federal + 11.5% in Nunavut) | 5% (5% federal tax in Alberta) to 15% (5% federal tax + 10% provincial tax in New Brunswick) | 27% | |
Cape Verde | 25% | 16.5% | 27.5% | 15% | N/A | |
Cayman Islands | 0% | 0% | 0% | Taxation in the Cayman Islands | ||
Central African Republic | 30% | — | 50% | 19% | N/A | |
Chad | — | — | — | — | N/A | |
Comoros | — | — | — | — | N/A | |
Cook Islands | 30% (highest rate) 20% (lowest rate) | 18.5% | 30% | 15% | N/A | |
Congo | 30% | — | — | 18.9% | N/A | |
Costa Rica | 30% | 0% | 25% | 13% (standard rate) 4% (private healthcare and plane tickets) 2% (medicines and private education) 1% (essential foods and agriculture) | N/A | |
Curaçao | 22% | 9.75% | 46.5% | 6%, 7% or 9% | N/A | |
Djibouti | — | — | — | — | N/A | |
Dominica | 25% | 0% | 35% | 15% | N/A | |
Dominican Republic | 27% | 0% | 25% | 18% | N/A | |
East Timor | — | — | — | — | N/A | |
Ecuador | 25% | 0% | 35% | 12% (standard rate) 15% (luxury goods) 0% (exports) | 35% | |
El Salvador | 30% | 0% | 30% | 13% | N/A | |
Equatorial Guinea | 35% | 0% | 35% | 15% | N/A | |
Eritrea | — | — | — | — | N/A | |
Ethiopia | — | — | — | — | N/A | |
Falkland Islands | 26% | 0% | 26% | 0% | N/A | |
Micronesia | — | — | — | — | N/A | |
Fiji | 20% | 0% | 20% | 9% | N/A | |
Finland | 20% | 0% + 8.40% social security tax | 66.75% in Halsua for the members of the Orthodox Church of Finland (31.25% national tax rate + 23.5% municipal tax + 9.9% social security tax + 2.1% church tax) | 24% (standard rate) 14% (food and fodder) 10% (medicines and public transport) | 34% | |
France | 26.5% (on profits over €38,120) 15% (not over €38,120) | 0% | 49% (45% + 4% tax on high incomes, or incomes over €500,000) | 20% (standard rate) 10% (restaurants, transportation and tourism services) 5.5% (utilities) 2.1% (press) | 30% | |
Gabon | 35% | 5% | 35% | 18% | N/A | |
Gambia | 31% | 0% | 30% | — | N/A | |
Germany | 29.65% | 14% (€9,169 are free of income tax) | 47.475% (45% income tax + 5.5% solidarity surcharge based on the total tax bill) | 19% (standard rate) 7% (reduced rate) | 25% | |
Ghana | — | — | — | 3% | N/A | |
Gibraltar | 10% | 17% | 40% | 0% | N/A | |
Greece | 22% | 9% (zero tax for annual income under €8633,33) | 44% | 24% (standard rate) 13% (food, health and tourism services) 6% (theater tickets, books and medicine) VAT is reduced by 30% for the islands of Leros, Lesvos, Kos, Samos, Chios (i.e., 17%, 9%, 4%). | 15% | |
Grenada | — | — | — | — | N/A | |
Guinea | — | — | — | — | N/A | |
Guinea-Bissau | — | — | — | — | N/A | |
Guernsey | 0% | 0% | 20% | 0% | N/A | |
Haiti | 30% | 0% | 30% | 10% | N/A | |
Honduras | — | — | — | — | N/A | |
Hungary | 9% | 15% | 27% (standard rate) 18% (reduced rate) 5% (milk, egg, pork, chicken meat, internet service, restaurant services, medicines and books) | 15% | Taxation in Hungary | |
India | 22% (highest) 15% (lowest) [inclusive of surcharge & cess] | 0% ₹ 0 - 250,000 5% ₹ 250,001 - 500,000 20% ₹ 500,001 - 1,000,000 Scheme I (with deductions) 0% ₹ 0 - 500,000 10% ₹ 500,001 - 750,000 15% ₹ 750,001 - 1,000,000 20% ₹ 1,000,001 - 1,250,000 25% ₹ 1,250,001 - 1,500,000 Scheme II (without deductions) | 30% ₹ 1,000,001 & + Scheme I (with deductions) 30% ₹ 1,500,001 & + Scheme II (without deductions) 4% cess and highest surcharge of 37% is applied on income tax. This makes the effective tax rate 42.74%. | 28%, 18%, 12%, 5%, 0% (varies by commodity; see GST rates in India) | 15% | |
Indonesia | 22% | 5% | 35% | 11% | N/A | |
Iran | 25% | 0% | 35% | 9% (highest rate) 0% (reduced rate) | N/A | |
Iraq | 15% | 3% | 15% | 0-300% | N/A | |
Ireland | 12.5% | 20% (first €1,650 per year is deductible) | 52% (40% income tax + 12% social insurance contributions on incomes above €70,000) | 23% (goods) 9%–13.5% (services) 0% (certain items of food) | 33% | |
Isle of Man | 0% | 10% | 20% | 20% (standard rate) 5% (home renovations) | N/A | |
Israel | 23% | 0% (for monthly income under 6,330₪) | 50% | 17% (standard rate) 0% (fruits, vegetables and public transport) | 25% | |
Italy | 27.9% (24% + 3.9% (municipal) ) | 23% (first €8,500 per year is deductible) | 47% (43% income tax + 4% special added tax) | 22% (standard rate) 10% (reduced rate) 4% (food and books) | 27.5% | |
Jamaica | 33.3% (standard rate) 25% (reduced rate for small companies) | 0% | 25% (on income over J$1,500,000) | 20% (services) 16.5% (goods) | N/A | |
Kenya | 30% | 10% | 30% (for citizens) 35% (for non-citizens) | 16% (standard rate) 12% (electricity and fuel) 0% (food) | N/A | |
Kiribati | — | — | — | — | N/A | |
Kuwait | 0% | 0% | 0% | Taxation in Kuwait | ||
Kyrgyzstan | 10% | 10% | 12% (standard rate) 5% (highest rate) 1% (lowest rate) | Taxation in Kyrgyzstan | ||
Laos | — | — | — | — | N/A | |
Latvia | 0% (20% on distribution of profit) | 20% | 31.4% | 21% (standard rate) 12% (Medical products, domestic public transport) 5% (Fresh fruits and vegetables, books, newspapers) | N/A | |
Lesotho | — | — | — | — | N/A | |
Liberia | 25% | — | — | — | N/A | |
Libya | — | — | — | — | N/A | |
Luxembourg | 28.69% (17% income tax + 1.19% unemployment fund contribution + 6.0-10.5% municipal trade tax | 8% | 45.78% (42% | 17% (standard rate) 3% (reduced rate) | N/A | |
Madagascar | — | — | — | — | N/A | |
Malawi | — | — | — | — | N/A | |
Mali | — | — | — | — | N/A | |
Malta | 35% (unless eligible for 30% rebate) | 0% | 35% | 18% (7% and 5% for certain goods and services) | N/A | |
Marshall Islands | — | 0% | 12% | 4% (highest rate) 2% (lowest rate) | N/A | |
Mauritania | — | — | — | — | N/A | |
Mauritius | 15% | 10% | 15% | 15% | N/A | |
Monaco | 28% | 0% | 19.6% (highest rate) 5.5% (lowest rate) | Taxation in Monaco | ||
Mongolia | 10% | 10% | 10% | Taxation in Mongolia | ||
Montenegro | 9% | 9% (first €720) | 12.65% (11% national tax + 15% municipality surtax on income tax) | 21%7% (essential goods - basic foodstufs, water, pharmaceuticals, books, tourism services, etc.)0% (postal services, education, social security services, healthcare, insurance, etc.) | N/A | |
Montserrat | — | — | — | — | N/A | |
Morocco | 31% (highest rate) 10% (lowest rate) | 0% | 38% | 20% (standard rate) 14%, 10%, 7% (reduced rates) | N/A | |
Mozambique | — | — | — | — | N/A | |
Myanmar | — | — | — | — | N/A | |
Namibia | 32% | 0% | 37% | 15% | N/A | |
Nauru | — | — | — | — | N/A | |
Nepal | 30% (higher rate for financial companies) /25% (standard rate) /20% (reduced rate for manufacturing companies) (+ 5% on profit distribution + 10% mandatory bonus to employees) | 0% + 1% social security tax | 36% (Including 20% additional tax) | 13% (standard rate) | N/A | |
Netherlands | 25% (on profits over €245,001) 15% (not over €245,000) | 0% (first €8,700 per year is tax free) | 55.50% | 21% (standard rate) 9% (essential and selected goods) | 25% | |
New Zealand | 28% | 10.5% | 39% | 15% | N/A | |
Nicaragua | — | — | — | — | N/A | |
Niger | 30% | — | — | 7% | N/A | |
Nigeria | 30% | 7% | 24% | 7.5% | N/A | |
Niue | — | — | — | 12.5% | N/A | |
Norfolk Island | — | — | — | — | N/A | |
Oman | 15% | 0% | 5% | Taxation in Oman | ||
Pakistan | 0% (for certain tech startup companies with a technology basis and other financial restrictions)29% | 0%(for income under PKR.600000/annum) | 35% | 17% +3%(for non-registered) (standard GST rate) 0% (basic food items) Special Tax cuts for Construction sector . | N/A | |
Palau | — | — | — | — | N/A | |
Panama | 25% | 0% | 27% | 7% (standard rate) 15% (tobacco) 10% (alcohol and hotels) 5% (essential goods) | N/A | |
Papua New Guinea | — | — | — | — | N/A | |
Paraguay | 10% | 8% | 10% | 10% | N/A | |
Philippines | 30% | 0% | 35% | 12% (standard rate) 0% (reduced rate) | N/A | |
Pitcairn Islands | — | 0% | — | Taxation in Pitcairn Islands | ||
Puerto Rico | 20% | 0% (16% proposed) | 33.34% | 11.5% | N/A | |
Romania | 16% (or 1% revenue for micro-entities with at least one employee, or 3% for micro-enterprises with no employees) | 35% 25% social security (CAS)10% health insurance (CASS)0% income tax for IT workers, people with disabilities | 45% 25% social security (CAS)10% health insurance (CASS)10% income tax after CAS and CASSSelf employed (PFA):25% CAS if earning more than 12 minimum wages in a year10% CASS, taxable sum capped at 12 minimum wages per year, e.g. you pay a maximum of 2280 RON as CASS contribution in 2018 if you earn over RON 22,800 for the whole year)10% income tax | 19% (standard rate) 9% ((food, medicines, books, newspapers and hotel services) 5% (reduced rate) | 10% | |
Rwanda | 30% | 0% | 30% | 18% | N/A | |
Saint Kitts and Nevis | 33% | 0% | — | Taxation in Saint Kitts and Nevis | ||
Saint Lucia | — | — | — | — | N/A | |
Saint Pierre and Miquelon | — | — | — | — | N/A | |
Saint Vincent and the Grenadines | — | — | — | — | N/A | |
Samoa | — | — | — | — | N/A | |
San Marino | 17% | 12% | 50% | 0% (standard rate) 17% (imported goods) | N/A | |
São Tomé and Príncipe | — | — | — | — | N/A | |
Seychelles | 33% | 15% | 15% | Taxation in Seychelles | ||
Sierra Leone | — | — | — | — | N/A | |
Singapore | 17% | 0% | 22% (+ 20% tax on pension) | 7% | N/A | |
Slovakia | 21% (on profits over €100,000) 15% (profits under €100,000) | 21% | 25% | 20% (standard rate) 10% (books and medicines) | 25% | |
Solomon Islands | — | — | — | — | N/A | |
Somalia | — | — | — | — | N/A | |
South Africa | 28% | 0% (below threshold) | 45% | 15% | N/A | |
South Sudan | — | — | — | — | N/A | |
Sudan | — | — | — | — | N/A | |
Suriname | 36% | 8% (first SRD2,646 per year is deductible) | 38% | — | N/A | |
Sweden | 20.6% | 32% (first US$1,930 per year is deductible) | 52% (32% average municipality income tax + 20% state income tax) | 25% (standard rate) 12% or 6% (reduced rate) | N/A | |
Tanzania | 30% | 15% | 30% | 18% | N/A | |
Thailand | 20% | 0% | 35% | 7% | N/A | |
Togo | — | — | — | — | N/A | |
Tokelau | — | — | — | — | N/A | |
Tonga | — | — | — | — | N/A | |
Trinidad and Tobago | 30% | 0% | 30% | 12.5% | N/A | |
Turkmenistan | — | — | — | — | N/A | |
Turks and Caicos Islands | — | — | — | — | N/A | |
Tuvalu | — | — | — | — | N/A | |
Uganda | 30% | — | — | 18% | N/A | |
Ukraine | 18% | 0% | 18% (common rate) 20% (some activities) | 2% (non-refundable turnover tax during martial law) Alternative VAT:20% (standard rate) 7% or 0% (reduced rates) | N/A | |
United Arab Emirates | 0% (until 31 May 2023)0% (free zone companies, may need to fill out a tax return)0% (from 1 June 2023, for mainland companies with net profit under AED 375,000, may need to still fill out tax return)9% (from 1 June 2023 for mainland companies with a net profit over AED 375,000 with taxation paid to other countries credited towards UAE taxation, tax return required) | 0% | 0% | 0% | Taxation in United Arab Emirates | |
United States | 21% (federal) | 10% (federal) +0%–3.07% (state) +0%–3.8398% (local) (federal standard deduction of 12550 USD for single taxpayers) | 51.6% in Portland, Oregon (37% federal tax ) | 11.5% (highest prevailing marginal state and local sales tax rate) 0% (lowest prevailing marginal rate) | 20% | |
Vanuatu | — | — | — | — | N/A | |
British Virgin Islands | 0% | 0% | — | Taxation in the British Virgin Islands | ||
U.S. Virgin Islands | 10% | Taxation in United States Virgin Islands | ||||
Yemen | 20% | 10% | 15% | 2% | N/A | |
Zambia | 30% | 10% | 30% | 16% | N/A | |
Zimbabwe | 25% | 0% | 45% | 15% (standard rate) 0% (on selected items) | N/A |
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Frequently asked questions related to tax.
How can I take advantage of tax-residency?
There are several strategies which could be taken to reduce your tax bill. Please contact the tax experts to set up a consultation.
What is individual income-tax?
It is a tax that individuals or entities (also known as taxpayers) pay in respect of the income or profits earned by them (commonly called taxable income). Taxation rates vary by type, characteristics of the taxpayer and the type of income.
What is territorial taxation?
Taxpayers on a territorial taxation system pay according to the country where they are physically present and the income was earned.
What is corporate tax?
A corporate tax (also known as corporation tax or company tax) is a direct tax charged by an authority on the corporate business income or capital of corporations or analogous legal entities.
Which countries have the lowest corporate tax?
The following countries have a corporate tax rate of 0%: Anguilla, Bahamas, Bahrain, Bermuda, Cayman Islands, Guernsey, Isle of Man, Jersey, Turks and Caicos Islands, United Arab Emirates, and Vanuatu.
What is known as VAT or GST?
Value-added tax, also known as Goods and Services Tax (GST), is calculated according to the value of the product that the consumer acquires; it is percentage-based as the businesses add VATs to their costs to collect taxes on behalf of the governmental institutions.
What is Capital gains tax?
By selling certain kinds of values such as properties, resources, stocks, holdings or estates, you need to pay the correspondent federation a Capital gains tax out of the profit you made. It is only applied once you have sold the asset and its estimation varies according to the legislation and whether it is short or long-term.
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