Highest Taxed Countries 2024 (2024)

Belgium55%79.5%25%21%

Income Tax Lowest Marginal Rate: 55% (when single/secluded) and 50% (when legally married) | Income ...

Finland0%66.75%20%24%

- Income Tax: 0% + 8.40% social security tax (20% for unemployed) and 66.75% in Halsua for the membe...

Portugal14.5%64%21%23%

- Income Tax: 64% (48% income tax + 5% solidarity rate + 11% social security); - Corporate Tax: 21%...

United Kingdom32%63.25%25%20%

- Income Tax: 32% (20% Income Tax + 12% Class I NI)(0% Income Tax on first £12,570) and 63.25% (63.2...

Switzerland0%59.7%17.92%7.7%

- Income Tax: 59.7% (10.6% (mandatory social security contributions) + 11.5% (federal) + 28.025% (ca...

Aruba7%58.95%25%1.5%

- Sales Tax: 1.5% (turnover tax)

Estonia55.4%58.4%0%20%

- Income Tax: 55.4% (20% income tax, 33% social tax, 1.6% unemployment insurance, 0.8% employer’s un...

Denmark39.86%57.11%25%25%

- Income Tax: 39.8596% (34.63% for unemployed; first DKK46,000 / US$7,245 / €6,172 per year is deduc...

Japan15.11%55%29.74%10%

- Income Tax: 15.105% (5.105% national + 10% local) and 55% (45% national + 10% local); - Sales Tax...

Austria0%55%25%20%

- Sales Tax: 20% (standard rate), 13% (tourism services) and 10% (basic items)

Spain19%54%25%21%

- Income Tax: 54% (in Valencian Community), 52% (in Navarre) and 47% (estatal without regional); ...

Canada27.53%54%31%15%

- Income Tax: 19% (15% federal + 4% in Nunavut) to 27.53% (12.53% federal + 15% in Quebec) and 54% (...

Sweden32%52%20.6%25%

- Income Tax: 32% (first US$1,930 per year is deductible) and 52% (32% average municipality income t...

Ireland20%52%12.5%23%

- Income Tax: 20% (first €1,650 per year is deductible) and 52% (40% income tax + 12% social insuran...

United States10%51.6%21%11.5%

- Income Tax: 10% (federal) + 0%–3.07% (state) + 0%–3.8398% (local) (federal standard deduction of 1...

Senegal0%50%25%20%Cuba15%50%30%20%

- Sales Tax: 20% (highest rate) and 2.5% (lowest rate)

Israel0%50%23%17%

- Income Tax: 0% (for monthly income under 6,330₪); - Sales Tax: 17% (standard rate) and 0% (fruits...

Central African Republic0%50%30%19%Slovenia16%50%19%22%

- Sales Tax: 22% (standard rate) or 9.5% (food, building and renovation, transport, tickets, media) ...

Netherlands0%49.5%25%21%

- Income Tax: 0% (first €8,700 per year is tax free); - Corporate Tax: 25% (on profits over €245,00...

France0%49%26.5%20%

- Income Tax: 49% (45% + 4% tax on high incomes, or incomes over €500,000); - Corporate Tax: 26.5% ...

Belarus48%48%20%20%

- Income Tax: 48% (12% income tax, 1% mandatory insurance, 35% social security); - Sales Tax: 20% (...

Brazil0%47.5%40%19%

- Income Tax: 47.5% (27.5% income tax rate applied to annual income exceeding BR$ 55,976.15 + 20% to...

Germany14%47.48%29.65%19%

- Income Tax: 14% (first €9,169 is free from income tax) and 47.475% (45% income tax + 5.5% solidari...

Italy23%47%27.9%22%

- Income Tax: 23% (first €8,500 per year is deductible) and 47% (43% income tax + 4% special added t...

Curacao9.75%46.5%22%9%Norway0%46.4%23%25%

- Income Tax: 46.4% (22% + 8.2% social security contribution + bracket tax (from 1.8% to 16.2%) minu...

Iceland0%46%20%24%

- Income Tax: 0% (On income up to 152.807 ISK); - Sales Tax: 24% (standard rate) and 11% (reduced r...

Luxembourg8%45.78%28.69%17%

- Income Tax: 45.78% (42% + 3.78% unemployment fund surcharge); - Corporate Tax: 28.69% (17% income...

Czech Republic20.1%45.7%19%21%

- Income Tax: 20.1% (15% deductible tax + 45% medicare and social security if an employee, 22.5% if ...

China0%45%25%13%

- Corporate Tax: 25% (standard rate) and 15% (concession rate for high-tech companies); - Sales Tax...

South Africa0%45%28%15%Poland9%45%19%23%

- Income Tax: 9% (for income under 30.000 złotych per year) (0% income tax + 9% Health Insurance(non...

Australia0%45%30%10%

- Corporate Tax: 30% (standard rate) and 25% (base entity rate); - Sales Tax: 10% (standard rate) a...

Romania35%45%16%19%

- Income Tax: 35% (25% social security (CAS) + 10% health insurance (CASS) + 0% income tax for IT wo...

Zimbabwe0%45%25%15%

- Sales Tax: 15% (standard rate) and 0% (on selected items)

Greece9%44%22%24%

- Income Tax: 9% (zero tax for annual income under €8633,33); - Sales Tax: 24% (standard rate), 13%...

Lithuania31.2%42.77%15%21%

- Sales Tax: 21% (standard rate), 9% (publications, accommodation services etc.), 5% (medicine, news...

South Korea6%42%24.2%10%

- Income Tax: 6% + 1.8% and 42% + 11.4%

DR Congo0%40%35%20%

- Sales Tax: 20% (highest rate) and 5% (lowest rate)

Turkey15%40%25%20%

- Sales Tax: 20% (standard rate), 10% (clothing) and 1% (certain food items)

Taiwan5%40%20%5%Croatia12%40%18%25%

- Corporate Tax: 18% (for profits over 3 million kn) and 12% (for profits not over 3 million kn); -...

Guyana28%40%30%14%

- Income Tax: 28% on Annual salary less than $1,560,000 GYD and 40% on Annual salary above $1,560,00...

New Caledonia0%40%30%0%

- Income Tax: 40% and 25% (on local income of non-residents)

Gibraltar17%40%10%0%Indonesia5%39%22%11%Colombia0%39%35%19%

- Income Tax: 35% (non-labor income) and 39% (labor income); - Sales Tax: 19% (standard rate) and 5...

New Zealand10.5%39%28%15%Morocco0%38%31%20%

- Corporate Tax: 31% (highest rate) and 10% (lowest rate); - Sales Tax: 20% (standard rate) and 14%...

Suriname8%38%36%0%

- Income Tax: 8% (first SRD2,646 per year is deductible)

Barbados25%38%5.5%17.5%

- Corporate Tax: 5.5% (on profits not over BBD$1 million), 3.0% (over BBD$1 million but not over BBD...

Namibia0%37%32%15%Nepal0%36%30%13%

- Income Tax: 0% + 1% social security tax and 36% (Including 20% additional tax); - Corporate Tax: ...

Pakistan0%35%29%17%

- Income Tax: 0%(for income under PKR.600000/annum); - Corporate Tax: 0% (for certain tech startup ...

Ethiopia0%35%30%0%Mexico1.92%35%30%16%

- Income Tax: 35% + reduction of deductions (topes)

Philippines0%35%30%12%

- Sales Tax: 12% (standard rate) and 0% (reduced rate)

Vietnam5%35%20%10%Iran0%35%25%9%

- Sales Tax: 9% (highest rate) and 0% (reduced rate)

Thailand0%35%20%7%Algeria0%35%26%19%

- Corporate Tax: 26% (highest rate) and 19% (lowest rate); Sales Tax: 19% (standard rate) and 9% (b...

Argentina9%35%30%21%

- Corporate Tax: 30% for residents and 15% for non residents since 2021

Cameroon10%35%31.5%19.25%Chile0%35%27%19%

- Income Tax: 0% (for monthly taxable incomes not over US$950) and 35% (for monthly taxable incomes ...

Ecuador0%35%25%12%

- Sales Tax: 12% (standard rate), 15% (luxury goods) and 0% (exports)

Benin10%35%35%18%Burundi0%35%35%18%Tunisia0%35%30%18%

- Sales Tax: 18% (standard rate) and 12% or 6% (reduced rate)

Gabon5%35%35%18%Equatorial Guinea0%35%35%15%Cyprus0%35%12.5%19%

- Sales Tax: 19% (standard rate), 5% or 0% (reduced rates)

Malta0%35%35%18%

- Corporate Tax: 35% (unless eligible for 30% rebate); - Sales Tax: 18% (7% and 5% for certain good...

Dominica0%35%25%15%San Marino9%35%17%0%

- Sales Tax: 0% (standard rate) and 17% (imported goods)

Venezuela0%34%34%16%

- Sales Tax: 16% (standard rate) and 8% (reduced rate)

Puerto Rico0%33.34%20%11.5%

- Income Tax: 0% (16% proposed)

Eswatini33%33%27.5%15%Latvia20%31.4%0%21%

- Corporate Tax: 0% (20% on distribution of profit); - Sales Tax: 21% (standard rate), 12% (Medical...

India0%30%22%28%

- Income Tax: Scheme I (with deductions) - 0% ₹ 0 - 250,000, 5% ₹ 250,001 - 500,000, 20% ₹ 500,001 -...

Tanzania15%30%30%18%Kenya10%30%30%16%

- Sales Tax: 16% (standard rate), 12% (electricity and fuel) and 0% (food)

Peru0%30%30%16%

- Sales Tax: 16% (standard rate) + 2% (municipal promotional tax) + 0–118% (impuesto selectivo al co...

Malaysia0%30%24%10%

- Income Tax: 30% + 11% for EPF + 0.5% for SOCSO; - Corporate Tax: 24% (highest rate) and 18% (lowe...

Zambia10%30%30%16%Rwanda0%30%30%18%Haiti0%30%30%10%El Salvador0%30%30%13%Uruguay0%30%25%22%

- Sales Tax: 22% (standard rate), 11% (lowest rate) and 0% (extent)

Gambia0%30%31%0%Trinidad and Tobago0%30%30%12.5%Cook Islands18.5%30%30%15%

- Corporate Tax: 30% (highest rate) and 20% (lowest rate)

Bulgaria10%28%10%20%

- Income Tax: 10% + 18% social security fund tax; - Corporate Tax: 10% (+ 5% on distribution of pro...

Cape Verde16.5%27.5%25%15%Panama0%27%25%7%

- Sales Tax: 7% (standard rate), 15% (tobacco), 10% (alcohol and hotels) and 5% (essential goods)

Falkland Islands0%26%26%0%Bangladesh0%25%32.5%15%Burkina Faso0%25%27.5%18%Bolivia0%25%29%13%Dominican Republic0%25%27%18%Jordan0%25%20%16%Azerbaijan14%25%20%18%Serbia10%25%15%20%

- Income Tax: 25% (additional contributions for state health, pension and unemployment funds); - Sa...

Slovakia21%25%21%20%

- Corporate Tax: 21% (on profits over €100,000) and 15% (profits under €100,000); - Sales Tax: 20% ...

Costa Rica0%25%30%13%

- Sales Tax: 13% (standard rate), 4% (private healthcare and plane tickets), 2% (medicines and priva...

Lebanon2%25%17%11%Jamaica0%25%33.3%20%

- Income Tax: 25% (on income over J$1,500,000); - Corporate Tax: 33.3% (standard rate) and 25% (red...

Botswana0%25%22%14%Bhutan0%25%26%0%Belize0%25%19%12.5%

- Corporate Tax: 0.75% (lowest rate) and 19% (highest rate)

Nigeria7%24%30%7.5%Albania0%23%15%20%

- Sales Tax: 20% (standard rate) and 6% (tourism services)

Egypt0%22.5%22.5%14%

- Corporate Tax: 22.5% (on taxable corporate profits) and (+ 5% on distribution of profit); - Sales...

Liechtenstein3%22.4%12.5%7.7%

- Sales Tax: 7.7% (standard rate)3.8% (lodging services) and 2.5% (reduced rate)

Singapore0%22%17%8%

- Income Tax: 22% (+ 20% tax on pension)

Armenia22%22%18%20%Afghanistan0%20%20%0%

- Sales Tax: 0%. However, in Taliban run areas, small fees have been illegally added to some groceri...

North Korea0%20%25%4%

- Sales Tax: 4% (highest rate) and 2% (lowest rate)

Cambodia0%20%20%10%Georgia20%20%0%18%

- Income Tax: 20% (5% on dividend, interest and royalty); - Corporate Tax: 0% (15% on distribution ...

Fiji0%20%20%9%Jersey0%20%0%5%Isle of Man10%20%0%20%

- Sales Tax: 20% (standard rate) and 5% (home renovations)

Guernsey0%20%0%0%

- Income Tax: 0% ( if earning under £658.67 a month) and 20% (+ 6.6-11.3% Social Security)

Ukraine0%18%18%20%

- Income Tax: 18% (common rate), 20% (some activities) + 22% (social security); - Sales Tax: 2% (no...

North Macedonia10%18%10%18%

- Sales Tax: 18% (standard rate) and 5% (reduced rate)

Angola0%17%30%10%Russia13%15%20%20%

- Income Tax: 15% (for those earning more than 5 mil. roubles a year) and 35% for non-residents; - ...

Iraq3%15%15%10%Yemen10%15%20%2%Syria5%15%22%0%Sri Lanka0%15%30%12%

- Income Tax: 15% (if annual income is more than LKR 2.5 million); - Corporate Tax: 30% (highest ra...

Hungary15%15%9%27%

- Income Tax: 15% (+ 18% social security); - Sales Tax: 27% (standard rate), 18% (reduced rate), 5%...

Hong Kong0%15%16.5%0%

- Corporate Tax: 16.5% (on profits over HK$2 million) and 8.25% (on profits not over HK$2 million)

Palestine5%15%15%14.5%Mauritius10%15%15%15%Maldives0%15%15%6%

- Income Tax: 0% for expatriates, 15% for nationals; - Corporate Tax: 15% (highest rate) and 8% (lo...

Seychelles15%15%33%15%Tajikistan5%13%13%18%

- Income Tax: 13% and 25% (non-residents); - Corporate Tax: 13% and 25% (non-residents)

Montenegro9%12.65%9%21%

- Income Tax: 9% (first €720) and 12.65% (11% national tax + 15% municipality surtax on income tax) ...

Uzbekistan12%12%12%15%

- Corporate Tax: 12% (standard rate) and 20% (banks and mobile communication operators); - Sales Ta...

Moldova12%12%12%20%

- Income Tax: 12% (+ 24% for social security); - Sales Tax: 20% (standard rate) and 10% (HoReCa)

Macau0%12%12%0%Marshall Islands0%12%3%4%

- Corporate Tax: 0.8% (lowest rate) and 3% (highest rate); - Sales tax: 4% (highest rate) and 2% (l...

Kazakhstan10%10%20%13%

- Income Tax: 10% (for residents) and 15% (for non-residents)

Paraguay8%10%10%10%Kyrgyzstan10%10%10%12%

- Sales Tax: 12% (standard rate), 5% (highest rate) and 1% (lowest rate)

Mongolia10%10%10%10%Bosnia and Herzegovina10%10%10%17%Andorra0%10%10%4.5%

- Sales Tax: 4.5% (standard rate), 9.5% (banking services) and 2.5%, 1% or 0% (reduced rates)

Guatemala5%7%25%12%American Samoa4%6%34%0%Saudi Arabia0%0%2%15%

- Corporate Tax: 2% (fully Saudi national owned businesses), 2-15% (taxed at Zakat rate for the Saud...

Somalia0%0%0%0%

- Corporate Tax: 0% (no tax system in place so 0% applies in every category)

United Arab Emirates0%0%9%5%

- Corporate Tax: 0% (free zone companies, as well as mainland companies with less than 375,000 AED a...

Oman0%0%15%5%Kuwait0%0%16%0%

- Corporate Tax: 16% (highest rate), 7.5% (lowest rate) Rate of 15% typically applies except for reg...

Qatar0%0%10%0%Bahrain0%0%0%10%

- Sales Tax: 10% (standard rate) and 0% (essential goods)

Brunei0%0%18.5%0%

- Corporate Tax: 1% sole propietorships and partnerships), 18.5% (all other businesses)

Bahamas0%0%0%12%

- Income Tax: 0% + 8.8% social security tax

Vanuatu0%0%0%0%Antigua and Barbuda0%0%25%15%Cayman Islands0%0%0%0%Bermuda0%0%0%0%Saint Kitts and Nevis0%0%33%0%Monaco0%0%0%19.6%

- Corporate Tax: 0% (25% for companies generating more than 25% of their turnover outside Monaco); ...

British Virgin Islands0%0%0%0%Anguilla0%0%0%0%Wallis and Futuna0%0%0%0%Saint Barthelemy0%0%0%0%Myanmar0%0%22%0%Uganda0%0%30%18%Sudan0%0%15%0%

- Corporate Tax: 5% (special exempt companies), 15% most other companies

Mozambique0%0%32%0%Ghana25%0%25%3%Madagascar0%0%20%0%Ivory Coast0%0%25%0%Niger0%0%30%7%Mali0%0%30%0%Malawi0%0%30%0%Chad0%0%20%0%Guinea0%0%25%0%South Sudan0%0%30%0%Honduras0%0%25%0%Papua New Guinea0%0%30%0%Togo0%0%27%0%Sierra Leone0%0%25%0%Laos0%0%35%0%Nicaragua0%0%30%0%Libya0%0%24.5%0%

- Corporate Tax: 24.5%; 20% corporate tax plus a 4% Jehad tax plus a 0.5% tax on corporate income to...

Turkmenistan0%0%8%0%Republic of the Congo0%0%30%18.9%Liberia0%0%25%0%Mauritania0%0%25%0%Eritrea0%0%34%0%Lesotho0%0%25%0%Guinea Bissau0%0%35%0%Timor Leste0%0%10%0%Djibouti0%0%25%0%Comoros0%0%35%0%Solomon Islands0%0%30%0%French Polynesia0%0%25%0%Sao Tome and Principe0%0%25%0%Samoa0%0%27%0%Saint Lucia0%0%30%0%Kiribati0%0%35%0%Grenada0%0%28%0%Micronesia0%0%21%0%Tonga0%0%25%0%Saint Vincent and the Grenadines0%0%30%0%United States Virgin Islands0%0%38.5%0%

- Corporate Tax: 21%-38.50%

Turks and Caicos Islands0%0%0%0%Sint Maarten0%0%34.5%0%Saint Martin0%0%20%0%

- Corporate Tax: 20% (10% for small taxpayer, those with revenue in a given tax year not exceeding t...

Palau0%0%0%0%Nauru0%0%25%0%Tuvalu0%0%30%0%Saint Pierre and Miquelon0%0%33.3%0%

- Corporate Tax: 33.3% (15% for small taxpayer, those with revenue in a given tax year not exceeding...

Montserrat0%0%20%0%Niue0%0%0%12.5%Tokelau0%0%0%0%