A recent World Economic Forum report, listing tax rates in the 35 OECD countries, reveals that workers in Belgium pays the highest percentage of their salaries to the government as tax, followed by those in Germany and Hungary.
The highest individual tax rate in India is for those earning over Rs 1 crore (Rs 10 million) a year. The tax rate stands at 30% on the income and 15% surcharge on the tax.
Here’s a look at the nations that have the highest tax rates in the world:
Belgium
Belgium
Rank 1, 54% of the income is taxed.
Rank 1, 54% of the income is taxed.
Germany
Germany
Rank 2, 49.4%
Rank 2, 49.4%
Hungary
Hungary
Rank 3, 48.2%
Rank 3, 48.2%
France
France
Rank 4, 48.1%
France
Rank 4, 48.1%
Rank 4, 48.1%
Italy
Italy
Rank 5, 47.8%
Italy
Rank 5, 47.8%
Rank 5, 47.8%
Austria
Austria
Rank 6, 47.1%
Austria
Rank 6, 47.1%
Rank 6, 47.1%
Finland
Finland
Rank 7, 43.8%
Rank 7, 43.8%
Czech Republic
Czech Republic
Rank 8, 43%
Czech Republic
Rank 8, 43%
Rank 8, 43%
Sweden
Sweden
Rank 9, 42.8%
Sweden
Rank 9, 42.8%
Rank 9, 42.8%
Slovenia
Slovenia
Rank 10, 42.7% of the income is taxed
Slovenia
Rank 10, 42.7% of the income is taxed
Rank 10, 42.7% of the income is taxed
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