13 Countries with Highest Tax Rates in the World
By SiliconIndia
12. Austria
Income Tax In The Highest Slab: 50 Percent
Overall Rank: 11
People, who are looking for job in other countries, feel that Austria is the best place, as the country provides wide variety of opportunities for every individual.
However, one drawback of this country is the high income tax rate of about 50 percent. Above this, the country charges 17 to 18 percent for the social security tax.
A working official who gets a holiday bonus will have to pay an additional 6 percent tax.
13. Ireland
Income Tax In The Highest Slab: 48 Percent
Overall Rank: 12
Ireland has the personal income tax rate of 48percent. Previously, Northern Europe had the tag of having the world’s highest income tax rates, but Ireland has surpassed that with a tax rate of 48 percent.
It is also mandatory that an addition of 4 percent tax on social security must be paid by every citizen. Above this, there has been increase in tax provisions which were applied for gifts and other inheritance.
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