Saturday , November 23 2024

4 Countries That Have The Highest Income Tax Rate In The World

3. Denmark (36.1%)

4 Countries That Have The Highest Income Tax Rate In The World

In Denmark tax revenue collected is divided into state income tax (i.e. progressive) and local income tax (also called flat tax) where average paying capacity for the individual is 45%, but people with high income group pays 55.8%.

For other taxes it is cited as $155 for social security tax and 5% on health tax, capital gains accounts 27% or 42%, dividends account 27% and 22.5%-27.8% on municipal tax. Members of church pay an additional 0.43% to 1.4% that is voluntary. But one can opt from this tax of being the member of state church.




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