Income Tax Comparison Among Countries

For all Filipino employees who are working on private sector, and always feel bitter every time that you look at your payslip and start to realize where the government has been spending the portion of your hard-earned salary, here’s some fact to mend your hearth. According to www. worldwide-tax. Com data, income tax rate in the Philippines is high but not yet the highest in the world (hurray!!). VAT also in the Philippines is one of the lowest (hurray again!!!). (Hope it will make you feel a little better.)

Corporate tax, however, is one of the highest in the world and unfortunately, based on the figure below from www. worldwide-tax. com, Philippines has the highest corporate tax among South-East Asian Nation. Ironically we’re still struggling from being a third world country.

Country		Corporate
Tax		Income Tax	VAT
Argentina  	35%		9-35%  		21%
Australia 	30%		17-47% 		10%GST
Austria 	25%		21%-50% 	20%GST
Belgium 	33.99%		25-50% 		21%
Brazil 		34%		15-27.5% 	17-25%
Bulgaria 	10%		10%-24% 	20%
Canada 		36.10%		15-29%(Federal) 6%(gst)
China 		33%		5-45% 		17%
Cyprus 		10%		20-30% 		15%
Czech Rep. 	24%		12-32% 		19%
Denmark 	24%		38-59% 		25%
Egypt 		40%		20-40% 		-
Estonia 	22%		22%		18%
Finland 	26%		9-32% 		22%
France 		33.33%		10%-48.09% 	19.60%
Germany 	38.34%(ave) 	15-42% 		19%
Gibraltar 	33%		17-40% 		-
Greece 		22/25% 		0-40% 		19%
Hong kong 	17.50%		16-20% 		-
Hungary 	16%		18-36% 		20%
India 		30-40% 		10-30%	 	12.50%
Indonesia 	30%		5-35% 		10%
Ireland 	12.50%		20-41% 		21%
Israel 		29%		10-48%	 	15.50%
Italy 		33%		23%-43% 	20%
Japan 		30%		5-40% 		5%(consump)
Latvia 		15%		25%		18%
Lithuania 	15%		15%/27% 	18%
Luxemburg 	29.63%		6-38.95% 	15%
Malta 		35%		15-35% 		18%
Mexico 		29%		3-29% 		15%
Monaco 		33.33%		0%		19.60%
Morocco 	35%		0-41.5% 	20%
Montenegro 	9%		15%		17%
Netherlands 	29.60%		0-52% 		19%
New Zealand 	33%		0-39% 		12.5%gst
Norway 		28%		28-51.3% 	25%
Pakistan 	35%		7.5%-35% 	15%
Philippines 	35%		5-32%	 	12%
Poland 		19%		19-40% 		22%
Portugal 	27.50%		10.5-40% 	21%
Romania 	16%		16%		19%
Russia 		24%		13%		18%
Saudi Arabia 	20%		20%		--
Serbia 		10%		10/14% 		18%
Singapore 	20%		3.75%-21% 	5%
Slovakia 	19%		19%		19%
Slovenia 	25%		16%-50% 	20%
South Africa 	29%		18-40% 		14%
Spain 		32.50%		15-45% 		16%
Sweden 		28%		0-56% 		25%
Taiwan 		25%		6-40% 		5%
Thailand 	30%		5-37%		7%
Turkey 		20%		15-35% 		18%
U.K. 		30%		0-40% 		17.50%
U.S.A. 		35%		0-35% 		-
Vietnam 	28%		0-40%	 	10%
Zambia 		35%		10-30% 		17.50%