Thursday, 1 December 2022
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WORLD TAXES

Which countries tax their citizens the most?

Which countries tax their citizens the most? In 2019, the highest income earners in Sweden pay a 57.19 percent, highest in the world. This is more than the OECD average of 41.65 percent. Normally, income taxes are higher in the Nordic countries. The highest taxes being in Denmark, Finland, and Iceland with respectively, 55.89, 53.75 and 46.24 percent. Wealthier countries charge the most of the taxes to the richer segments of the society. Countries such as Austria, the Netherlands and Belgium apply a similar model.

On the other side, some countries do not have income taxes at all. For example these include oil-rich countries such as Saudi Arabia, Qatar and Kuwait. These are petroleum richest countries and provide for their nationals. Some Caribbean Islands, such as Anguilla and Antigua and Barbuda, do not have income taxes either. The Cayman Islands and the Bahamas are also known for being tax havens.

 

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