Thursday, March 6, 2014

Tax Rates By Country of Residence

BBC News recently published an article comparing tax rates based on the country of residence. The numbers shared in the article were taken from a report put out by Price Waterhouse Coopers. The individuals reviewed included high-wage earners from 2013 with incomes of $400,000. In addition, they are assuming they have a $1.2 million mortgage, are married and have two children with one of those children under the age of six. I thought it was a pretty eye-opening article, so I wanted to share some of the information with you.

After income taxes and social security contributions, high-wage earners would take home the following percentage of their gross income:

  • Italy – 50.59%
  • India – 54.90%
  • United Kingdom – 57.28%
  • France – 58.10%
  • Canada – 58.13%
  • Japan – 58.68%
  • Australia – 59.30%
  • United States – 60.45%
  • Germany – 60.61%
  • South Africa – 61.78%
  • China – 62.05%
  • Argentina – 64.02%
  • Turkey – 64.64%
  • South Korea – 65.75%
  • Indonesia – 69.78%
  • Mexico – 70.60%
  • Brazil – 73.32%
  • Russia – 87.00%
  • Saudi Arabia – 96.86%

That means if you live in Saudi Arabia you get to take home 96.86% of your $400,000 salary. Nice!

Not sure how useful this information is, but I think it’s kind of fun to look at.

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