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14-02-2020
Citizens across the world are burdened with income taxes, however there are four countries where people are not charged any tax on their income. Here's a list of countries where the highest tax rate is 35 percent and below. India does not figure on this list as the maximum income tax charged is 42.7 percent.
Mexico and Malta Citizens in Mexico pay a maximum of 35 percent income tax. Malta too has a progressive tax system, with the highest income tax rate being 35 percent
Canada, New Zealand and Poland People in Canada and New Zealand pay a maximum of 33 percent, while those in Poland are charged a maximum 32 percent
Jordan, Trinidad and Tobago, Malaysia and Brazil The highest tax slab in Jordan is 30 percent. Citizens in Trinidad and Tobago are also charged 30 percent in taxes, while Malaysia has a highest income tax rate of 28 percent and Brazil levies a maximum of 27.5
Dominican Republic and Sri Lanka Dominican Republic charges a maximum of 25 percent as income tax, while the maximum tax on income in Sri Lanka has been set at 24 percent.
Egypt, Singapore and Czech Republic Egypt has a progressive tax system with maximum of 22.5 percent, while Singapore and Czech Republic have set their maximum at 22
Madagascar, Fiji, Isle of Man All the three countries charge a maximum of 20 percent
Hong Kong, Costa Rica and Hungary The tax rates in Hong Kong is 17 percent, while residents of Costa Rica are subject to a lower income tax of 15 percent. Residents in Hungary are charged a maximum of 15 percent
Russia, Bolivia and Macau Russia, with the fixed rate at 13 percent, is among the few countries with the lowest income tax rate. Bolivia with just 13 percent and Macau at 12
Montenegro, Bulgaria and Guatemala Montenegro’s residents are subject to an income tax of a maximum 11 percent. Those in Bulgaria pay 10 percent and Guatemala levies just 7 percent tax
Qatar, Bahamas, United Arab Emirates and Saudi Arabia These countries levy zero percent tax on the income of residents. |
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