Map Options

Metric:
Color Scheme:
map placeholder
Lowest Marginal Rate

0%

10%

20%

30%

40%

50%

60%

Click on a country for details.

Highest Taxed Countries 2024

Snapshot

  • The highest personal income tax rates in 2021-23 were found in Ivory Coast (60%), Finland (56.95%), and Denmark (56.00%).

  • Bhutan has the highest sales tax at 50%, followed by Hungary (27%), with Croatia, Denmark, Norway, and Sweden tied at 25%.

  • Tax havens, such as Luxembourg and the Cayman Islands, attract foreign investors with low tax rates and gain revenue through fees and charges.

As the old adage goes, only two things in life are certain: death and taxes. Taxes can be a financial burden, but paying taxes is important for several reasons. Taxes are used to fund all manner of publicly-funded services including the military, public education, infrastructure such as roads and parks, police and fire departments, and public retirement and health programs such as Social Security and Medicare in the United States. Simply put, taxes provide the funds that a country needs to survive.

No two national tax systems are alike

Taxes come in many forms, including sales tax, income tax, property tax, inheritance and estate taxes, excise tax, and more. Tax rates and regulations also vary greatly from country to country, and even within different parts of the same country. For example, most U.S. states charge some form of income tax, but an individual state's income tax rate may be anywhere from 1% to 13.3%. Moreover, seven states (Alaska, Florida, Nevada, South Dakota, Texas, Washington, and Wyoming) do not collect any state income tax at all, and two more (New Hampshire and Tennessee) tax interest and dividend income, but not wages or salaries.

Similarly, most U.S. states charge a state sales tax, but some do not. However, states without a sales tax or an income tax may add or raise other taxes to make up for the deficit, such as implementing higher property tax rates. Finally, most governments that levy taxes charge different percentages based upon the amount of income or type of goods being taxed. For example, a person who makes $40k a year may pay 12% in income taxes while their next-door neighbor, who makes $200k, pays 25% or more. Similarly, sales of basic needs such as groceries are typically taxed at a much lower rate than sales of luxury items such as tobacco products or a new car. In this article, we’ll explore countries in terms of three main types of taxes: personal income tax, corporate tax, and sales tax.

Top 10 Countries with the Highest Personal Income Tax Rates - Trading Economics 2021-23:

Country
Highest Marginal Rate
Belgium79.5%
Finland66.75%
Portugal64%
United Kingdom63.25%
Switzerland59.7%
Aruba58.95%
Estonia58.4%
Denmark57.11%
Japan55%
Austria55%

Top 10 Countries with the Highest Corporate Taxes - Trading Economics 2022-23:

Barbados (5.5%), United Arab Emirates (9%), Hungary (9.0%), and Montenegro (9.0%) have very low corporate rates, and several countries, such as Vanuatu, Bermuda, and Bahrain have no corporate tax at all.

Top 12 Countries with the Highest Sales Taxes - Trading Economics 2023:

Country
Sales Tax Rate
India28%
Hungary27%
Denmark25%
Norway25%
Sweden25%
Croatia25%
Greece24%
Finland24%
Iceland24%
Portugal23%

Finally, let’s look at sales tax rates. The highest rates are found in Bhutan, with rates up to 50%. Next is Hungary, which has a standard rate of 27%. In third place is a logjam of Croatia, Denmark, Norway, and Sweden, all with standard rates of 25%.

Tax Havens

Countries that offer very low tax rates for foreign investors are called tax havens. Tax havens generate government revenue by attracting a generous amount of capital inflow and imposing fees, charges, and low tax rates. The world's top ten tax havens are Luxembourg, Cayman Islands, Isle of Man, Jersey, Ireland, Germany, the Netherlands, England, Switzerland, and the Bahamas.

Source

In the top taxed country lists, some countries had more recent data available than others, within the range of 2021-2023. For countries with the highest income taxes, since taxation is usually not linear, the highest rate in each country was used as a basis for the ratings.

  • Many displayed tax rates are in fact ranges that change according to the taxpayer's income level or other factors. See the Additional Details column for full information.

Download Table Data

Enter your email below, and you'll receive this table's data in your inbox momentarily.

Country
Lowest Marginal Rate
Highest Marginal Rate
Corporate Tax Rate
Sales Tax Rate
Additional Details
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%
Myanmar0%0%22%0%
Uganda0%0%30%18%
Sudan0%0%15%0%
- Corporate Tax: 5% (special exempt companies), 15% most other companies
Saudi Arabia0%0%2%15%
- Corporate Tax: 2% (fully Saudi national owned businesses), 2-15% (taxed at Zakat rate for the Saud...
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%
Somalia0%0%0%0%
- Corporate Tax: 0% (no tax system in place so 0% applies in every category)
Guinea0%0%25%0%
South Sudan0%0%30%0%
Honduras0%0%25%0%
Papua New Guinea0%0%30%0%
United Arab Emirates0%0%9%5%
- Corporate Tax: 0% (free zone companies, as well as mainland companies with less than 375,000 AED a...
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%
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...
Eritrea0%0%34%0%
Qatar0%0%10%0%
Lesotho0%0%25%0%
Guinea Bissau0%0%35%0%
Bahrain0%0%0%10%
- Sales Tax: 10% (standard rate) and 0% (essential goods)
Timor Leste0%0%10%0%
Djibouti0%0%25%0%
Comoros0%0%35%0%
Solomon Islands0%0%30%0%
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
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%
Antigua and Barbuda0%0%25%15%
Saint Kitts and Nevis0%0%33%0%
Sint Maarten0%0%34.5%0%
Monaco0%0%0%19.6%
- Corporate Tax: 0% (25% for companies generating more than 25% of their turnover outside Monaco); ...
Saint Martin0%0%20%0%
- Corporate Tax: 20% (10% for small taxpayer, those with revenue in a given tax year not exceeding t...
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%
showing: 213 rows

Which country has the highest personal taxes in the world?

Estonia has the highest personal taxes, with a lowest marginal tax rate of 55.4%.

Which country has the highest corporate tax rate?

Brazil has the highest corporate tax rate, with a rate of 40%.

Which country has the highest sales tax?

India has the highest sales tax, with a rate of 28%.

Frequently Asked Questions

Sources