Top 10 Highest Tax Paying Countries in The World 2016
There are more and more countries in the world, according to recent reports that they are almost 196 countries in this world so in these all countries some are stronger by their economy so these are also well developed as on the other side some countries are not financially strong.
So which country is strong or not it may be depend on the number of taxpaying people and what is % age of this but question is her that what is tax? After searching we have defined that “Tax is a financial charge or other toll imposed upon a taxpayer by a state or the functional correspondent of a state to fund various public expenditures.
So this tax is collected in four different groups that are corporate tax, payroll taxes, individual income tax and sales taxes so there are some countries in the world which pay highest tax in form of sales tax and Individual tax.
Austria is not so much big country by area but this is one of the highest taxes paying country of the world as total population of this country is about 8.5 million and also considered in biggest power of Europe so due to taxpaying country it is been included that it is also one of the richest country of the world as total income per capita of $44,475 and ranked among the top countries having high standard of living. So tax schedule in this country as: 21% (on taxable income from €3,640 to €7,270; 31% (€7,270 to €21,800); 41% (€21,800 to 50,870); and 50% above €51,000. Married people are taxed separately. Payroll withholding tax is in effect. So this is been included in highest tax paying countries by charging as 25% corporate tax, 50% maximum individual tax and 20% of tax has been charged in form of Sales tax.
Belgium is also most important country of Soviet Union which has total area of 30,528 kilometers with total population of 11 million as this country is also richest as well as most developed country of the world due to better system of tax paying taxes are collected on federal level, these taxes include an income tax, social security, corporate taxes and value added tax. At the local level, property as well as various fees is collected. Tax revenue stood at 48% so this country is growing very fast as this is now on most modern countries because it is also on 9th country of the world with highest tax paying country of the world so tax including as 55% federal and up to 9% local, the payroll tax and sales tax charged 37.84 %.
Netherland is also one of the beautiful as well as well developed country as this country has more and more places to watch so tourists of many countries came here, instead of these this country has also better tax system therefore considered as highest tax paying country of the world in early in 90’s taxpaying % age of this country was almost 72 % but after that it is decreased to 52 % but instead of these has better system tax as this country is so much developed and growing very fast. It is densely populated country is the world’s second-largest exporter of food and agricultural products and first countries in world having an elected parliament so tax %age include corporate tax 25%, individual maximum tax 52% and 21% in term of GST including 6% for selected goods.
Denmark is also one of highest tax paying which consists of 443 named island including Jutland, peninsula, and an archipelago, The Northern European state has population of 5,668,743 covering the area of 43,094 square kilometers. Tax system in this country consist of state tax as well as local tax with state tax is progressive while local is flat tax, so tax percentage in this country as 23.5% of corporate tax, 46.03% minimum individual tax and 61.03% maximum tax while it charges 8% payroll and 25% sales tax therefore this highest tax paying country is also one of the most developed countries in sector of Education, human development, living standard and prosperity so health sector of this country is also developed as well as best.
Sweden is famous as well as beautiful country of the world as The Scandinavian country in Northern Europe Sweden s the third-largest country in the European Union covering area of 450,295 square kilometers, home to nearly 9.7 million population of this country. Instead of these numbers it is also one of the highest taxpaying countries in last many years. Income tax on salaries is deducted by the employer and paid directly by the employer to the Swedish Tax Agency so due to this method people not feel so many burdens also. So percentage of all taxes included in this country corporate tax 22%, maximum individual tax 59.7%, payroll taxes 31.42% and sales tax up to 25%, as this country is also in top richest countries of the world.
Ireland is also in this list of highest Tax paying countries as this country is separated from Great Britain considered as one of the wealthiest country because of its GDP per capita of $48,787 per year so total 52 % tax paid by this country therefore it is also highest developed country. So this country has implemented strictly tax paid to Government therefore percentage of tax paid of different section are 12.5% corporate tax, 40% of maximum individual tax, 0%-11% tax on payroll while sales tax rates includes 23% on goods and 9%-13.5% services. This country is growing very fast with rapid increase in economy and income per capita so it has much developed sectors of education, food, prosperity and many more.
Republic of Finland is a Nordic country in Northern Europe which population is around 5.5 million while in terms of area it is the eighth largest country in Europe and meagerly populated country in European Union but this is also highest tax paying country as it has ratio of almost 53 % overall tax paid country. This country has highest tax percentage in year 1995 which was 62 % and lower percentage in 2010 which was 49 % so total percentage of all types taxes in this country is as 20%, minimum individual tax7.71%, and maximum individual tax 61.96%, an average of payroll tax 20.64% and 24% sales tax including 14% goods and 10% on accommodations. This country has also highest income per capita with more advance country of the world.
3: United Kingdom
United Kingdom is a sovereign state in Europe laying off the north-western coast of the European mainland it has 64.5 million inhabitants making it 22nd-most populous country as this is also one of the oldest countries in the world. This country has highest income per capita so it is one of the richest countries so also a developed country as well, as it is also atomic power of the world which loss their most resources in many wars but overall tax paying %age of this country is about 55 % and all types of taxes percentages including as charges 40% in form of corporate tax, 55.9% of maximum individual tax including federal plus local while tax on payroll is 15.3%-3.8% and sales tax is 0%-11.725% therefore considered as highest tax paying country.
Japan is most develop country of Asia which is most famous for their technology which best in the world including electronics devices so this country is located on the East Asia which is Located in the Pacific Ocean known as Land of the Rising Sun. Japan has world’s third largest economy by nominal GDP and fifth largest exporter and largest importer in the world and ranked first in Country Brand Index so development in this country also increased day by day only country in the world whose asked their citizens to increase population. Total percentages of tax in all sections are corporate tax up to 38.01%, minimum individual tax 15%, maximum individual tax 50%, payroll tax 25.63% and 8% tax on consumption on in term of sale taxes so this country is 2nd in the list of highest tax paying countries.
Aruba is smallest country which is constitution country of Kingdom of Netherland in south of Caribbean sea as this country has total area of 1600 sq. kilometers, Aruba is one of the four countries that form the Kingdom of the Netherlands, Curacao, along with the Netherlands, and Sint Maarten. This is one of the attractive and beautiful countries of the world therefore most visited by all people from worldwide, so total percentage of various taxes in this country include 7% minimum individual tax, 28% corporate tax, 58.95% maximum individual tax while sales tax has been charged 1.5% tax on total turnover therefore it is highest tax paying country and top in this list so this country has highest standard of living that also attract tourists all over the world.