Highest Taxed Countries 2023 (2024)

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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 🔽
Belgium	79.5%
Finland	66.75%
Portugal	64%
United Kingdom	63.25%
Switzerland	59.7%
Aruba	58.95%
Estonia	58.4%
Denmark	57.11%
Japan	55%
Austria	55%

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

Country	Corporate Tax Rate 🔽
Brazil	40%
Suriname	36%
DR Congo	35%
Colombia	35%
Benin	35%
Burundi	35%
Gabon	35%
Equatorial Guinea	35%
Malta	35%
Venezuela	34%

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 🔽
India	28%
Hungary	27%
Denmark	25%
Norway	25%
Sweden	25%
Croatia	25%
Greece	24%
Finland	24%
Iceland	24%
Portugal	23%

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.

Notes:
- 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.

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Download Table Data

Country	Lowest Marginal Rate	Highest Marginal Rate	Corporate Tax Rate	Sales Tax Rate	Additional Details
Belgium	55%	79.5%	25%	21%	Income Tax Lowest Marginal Rate: 55% (when single/secluded) and 50% (when legally married) Income Tax Highest Marginal Rate: 79.5% (20.5% (mandatory social security tax), 50% (federal), 30-89EUR (regional), 3-9% (municipal) Sales Tax: 21% (standard rate), 12% (restaurants) and 6% (essential and selected goods)
Finland		66.75%	20%	24%	- Income Tax: 0% + 8.40% social security tax (20% for unemployed) and 66.75% in Halsua for the members of the Orthodox Church of Finland (31.25% national tax rate + 23.5% municipal tax + 9.9% social security tax + 2.1% church tax); - Sales Tax: 24% (standard rate), 14% (food and fodder) and10% (medicines and public transport)
Portugal	14.5%	64%	21%	23%	- Income Tax: 64% (48% income tax + 5% solidarity rate + 11% social security); - Corporate Tax: 21% (in mainland); Sales Tax: 23% (standard rate), 13% (intermediate rate) and 6% (reduced rate)
United Kingdom	32%	63.25%	25%	20%	- Income Tax: 32% (20% Income Tax + 12% Class I NI)(0% Income Tax on first £12,570) and 63.25% (63.25% in 100k-125k band: 40% + 20% due to loss of tax free band until 125k + ~3% NI, excluding employer NI, back down to 45% + NI above 125k)+ 2% Class I NI for over £4189 pm) 47% (over £125,140); - Sales Tax: 20% (standard rate), 5% (home energy and renovations) and 0% (life necessities: groceries, water, prescription medications, medical equipment and supplies; public transport; children's clothing; books and periodicals)
Switzerland		59.7%	17.92%	7.7%	- Income Tax: 59.7% (10.6% (mandatory social security contributions) + 11.5% (federal) + 28.025% (cantonal, Geneva) or 9.69% (communal, Avully and Chancy, both canton of Geneva) or 3.04% (church tax, Roman Catholic and protestant in Geneva); - Sales Tax: 7.7% (standard rate) and 3.8% or 2.5% (reduced rates)
Aruba	7%	58.95%	25%	1.5%	- Sales Tax: 1.5% (turnover tax)
Estonia	55.4%	58.4%		20%	- Income Tax: 55.4% (20% income tax, 33% social tax, 1.6% unemployment insurance, 0.8% employer’s unemployment insurance, 0% on dividends) and 58.4% (33% social tax, 1.6% unemployment insurance, 0.8% employer’s unemployment insurance, 2% funded pension, 14% employer's dividends tax, 7% on lower tax range dividends); - Corporate Tax: 0% (20% on distribution or 14% on distribution below the 3 previous years average); - Sales Tax: 20% (standard rate) and 9% (reduced rate)
Denmark	39.86%	57.11%	25%	25%	- Income Tax: 39.8596% (34.63% for unemployed; first DKK46,000 / US$7,245 / €6,172 per year is deductible) and 8%+(100%-8%)*(12,09%+26,3%+15%)= 57,11%; - Corporate Tax: 22-25% (depending on business)
Japan	15.11%	55%	29.74%	10%	- Income Tax: 15.105% (5.105% national + 10% local) and 55% (45% national + 10% local); - Sales Tax: 10% (standard rate) and 8% (groceries and takeout food and subscription newspaper)
Austria		55%	25%	20%	- Sales Tax: 20% (standard rate), 13% (tourism services) and 10% (basic items)
Spain	19%	54%	25%	21%	- Income Tax: 54% (in Valencian Community), 52% (in Navarre) and 47% (estatal without regional); - Corporate Tax: 25% (in mainland) and 4% (in Canary Islands); - Sales Tax: 21% (standard rate) and 10% or 4% (reduced rates)
Canada	27.53%	54%	31%	15%	- Income Tax: 19% (15% federal + 4% in Nunavut) to 27.53% (12.53% federal + 15% in Quebec) and 54% (33% federal + 21% in Nova Scotia) to 44.5% (33% federal + 11.5% in Nunavut); - Corporate Tax: 26.5-31% (higher rate) and 9-13% (lower rate); - Sales Tax: 5% (5% federal tax in Alberta) to 15% (5% federal tax + 10% provincial tax in New Brunswick)
Sweden	32%	52%	20.6%	25%	- Income Tax: 32% (first US$1,930 per year is deductible) and 52% (32% average municipality income tax + 20% state income tax); - Sales Tax: 25% (standard rate) and 12% or 6% (reduced rate)
Ireland	20%	52%	12.5%	23%	- Income Tax: 20% (first €1,650 per year is deductible) and 52% (40% income tax + 12% social insurance contributions on incomes above €70,000); - Sales Tax: 23% (goods), 9%–13.5% (services) and 0% (certain items of food)
United States	10%	51.6%	21%	11.5%	- Income Tax: 10% (federal) + 0%–3.07% (state) + 0%–3.8398% (local) (federal standard deduction of 12550 USD for single taxpayers) and 51.6% in Portland, Oregon (37% federal tax + 9.9% state tax + 4.7% city tax); - Corporate Tax: 21% (federal), up to 21% with credit of tax paid towards other countries; Sales Tax: 11.5% (highest prevailing marginal state and local sales tax rate) and 0% (lowest prevailing marginal rate)
Senegal		50%	25%	20%
Cuba	15%	50%	30%	20%	- Sales Tax: 20% (highest rate) and 2.5% (lowest rate)
Israel		50%	23%	17%	- Income Tax: 0% (for monthly income under 6,330₪); - Sales Tax: 17% (standard rate) and 0% (fruits and vegetables)
Central African Republic		50%	30%	19%
Slovenia	16%	50%	19%	22%	- Sales Tax: 22% (standard rate) or 9.5% (food, building and renovation, transport, tickets, media) or 5% (books, newspaper)
Netherlands		49.5%	25%	21%	- Income Tax: 0% (first €8,700 per year is tax free); - Corporate Tax: 25% (on profits over €245,001) and 15% (not over €245,000); - Sales Tax: 21% (standard rate) and 9% (essential and selected goods)
France		49%	26.5%	20%	- Income Tax: 49% (45% + 4% tax on high incomes, or incomes over €500,000); - Corporate Tax: 26.5% (on profits over €38,120) and 15% (not over €38,120); - Sales Tax: 20% (standard rate), 10% (restaurants, transportation and tourism services), 5.5% (utilities) and 2.1% (press)
Belarus	48%	48%	20%	20%	- Income Tax: 48% (12% income tax, 1% mandatory insurance, 35% social security); - Sales Tax: 20% (standard rate) and 10% (reduced rate)
Brazil		47.5%	40%	19%	- Income Tax: 47.5% (27.5% income tax rate applied to annual income exceeding BR$ 55,976.15 + 20% top social security tax rate for self-employed workers); - Corporate Tax: 40% (highest rate for financial institutions, insurance and capitalisation companies), 34% (highest rate), 24% (lowest rate), 15% ( +10% in profits exceeding BR$ 20.000 + 9% Social Contribution Tax or 15% for financial institutions, insurance and capitalisation companies ); - Sales Tax: 17%, 18%, 19% (state tax rate) and 0% to 300% (federal tax rate)
Germany	14%	47.48%	29.65%	19%	- Income Tax: 14% (first €9,169 is free from income tax) and 47.475% (45% income tax + 5.5% solidarity surcharge based on the total tax bill); - Sales Tax: 19% (standard rate) and 7% (reduced rate)
Italy	23%	47%	27.9%	22%	- Income Tax: 23% (first €8,500 per year is deductible) and 47% (43% income tax + 4% special added tax); - Corporate Tax: 27.9% (24% + 3.9% (municipal)); - Sales Tax: 22% (standard rate), 10% (reduced rate) and 4% (food and books)
Curacao	9.75%	46.5%	22%	9%
Norway		46.4%	23%	25%	- Income Tax: 46.4% (22% + 8.2% social security contribution + bracket tax (from 1.8% to 16.2%) minus deductions); - Sales Tax: 25% (standard rate), 15% (food and drink in shops) and 10% (transportation, cinema and hotel services)
Iceland		46%	20%	24%	- Income Tax: 0% (On income up to 152.807 ISK); - Sales Tax: 24% (standard rate) and 11% (reduced rate)
Luxembourg	8%	45.78%	28.69%	17%	- Income Tax: 45.78% (42% + 3.78% unemployment fund surcharge); - Corporate Tax: 28.69% (17% income tax + 1.19% unemployment fund contribution + 6.0-10.5% municipal trade tax; - Sales Tax: 17% (standard rate) and 3% (reduced rate)
Czech Republic	20.1%	45.7%	19%	21%	- Income Tax: 20.1% (15% deductible tax + 45% medicare and social security if an employee, 22.5% if self-employed), 45.7% (peaks for employee gross annual income of $90,000 or more) and 39% (for gross annual income of $450,000 or more); - Sales Tax: 21% (standard rate) and 15% or 10% (reduced rates)
China		45%	25%	13%	- Corporate Tax: 25% (standard rate) and 15% (concession rate for high-tech companies); - Sales Tax: 13% (standard rate), 9% (energy, books, transportation, etc.), 6% (other services), 0% (goods and services for export)
South Africa		45%	28%	15%
Poland	9%	45%	19%	23%	- Income Tax: 9% (for income under 30.000 złotych per year) (0% income tax + 9% Health Insurance(non-deductible) and 41% or 45%•32% Income tax (9% health insurance + 4% solidarity tax above 1.000.000 złotych per year. Self-employed: 23,9% or 27.9%(not deduction first 30.000 złotych) (19% flat income tax + 4,9% health insurance + 4% solidarity tax above 1 milion złotych); - Corporate Tax: 19% (9% for small taxpayer, those with revenue in a given tax year not exceeding the equivalent of €1.2 million and that have "small taxpayer" status); - Sales Tax: 23% (standard rate) and 8% or 5% (reduced rates)
Australia		45%	30%	10%	- Corporate Tax: 30% (standard rate) and 25% (base entity rate); - Sales Tax: 10% (standard rate) and 0% (essential items)
Romania	35%	45%	16%	19%	- Income Tax: 35% (25% social security (CAS) + 10% health insurance (CASS) + 0% income tax for IT workers, people with disabilities) and 45% (25% social security (CAS) + 10% health insurance (CASS) + 10% income tax after CAS and CASS. Self employed (PFA): 25% CAS if earning more than 12 minimum wages in a year + 10% CASS, taxable sum capped at 12 minimum wages per year, e.g. you pay a maximum of 2280 RON as CASS contribution in 2018 if you earn over RON 22,800 for the whole year) + 10% income tax; - Corporate Tax: 16% (or 1% revenue for micro-entities with at least one employee, or 3% for micro-enterprises with no employees); - Sales Tax: 19% (standard rate), 9% (food, medicines, books, newspapers and hotel services) and 5% (reduced rate)
Zimbabwe		45%	25%	15%	- Sales Tax: 15% (standard rate) and 0% (on selected items)
Greece	9%	44%	22%	24%	- Income Tax: 9% (zero tax for annual income under €8633,33); - Sales Tax: 24% (standard rate), 13% (food, health and tourism services), 6% (theater tickets, books and medicine), VAT is reduced by 30% for the islands of Leros, Lesvos, Kos, Samos, Chios (i.e., 17%, 9%, 4%).
Lithuania	31.2%	42.77%	15%	21%	- Sales Tax: 21% (standard rate), 9% (publications, accommodation services etc.), 5% (medicine, newspapers and magazines etc.) and 0% (certain goods and services)
South Korea	6%	42%	24.2%	10%	- Income Tax: 6% + 1.8% and 42% + 11.4%
DR Congo		40%	35%	20%	- Sales Tax: 20% (highest rate) and 5% (lowest rate)
Turkey	15%	40%	25%	20%	- Sales Tax: 20% (standard rate), 10% (clothing) and 1% (certain food items)
Taiwan	5%	40%	20%	5%
Croatia	12%	40%	18%	25%	- Corporate Tax: 18% (for profits over 3 million kn) and 12% (for profits not over 3 million kn); - Sales Tax: 25% (standard rate) and 13% (certain essential groceries)
Guyana	28%	40%	30%	14%	- Income Tax: 28% on Annual salary less than $1,560,000 GYD and 40% on Annual salary above $1,560,000 GYD; - Sales Tax: 14% (standard rate) and 0% (reduced rate)
New Caledonia		40%	30%		- Income Tax: 40% and 25% (on local income of non-residents)
Gibraltar	17%	40%	10%
Indonesia	5%	39%	22%	11%
Colombia		39%	35%	19%	- Income Tax: 35% (non-labor income) and 39% (labor income); - Sales Tax: 19% (standard rate) and 5% or 0% (reduced rates)
New Zealand	10.5%	39%	28%	15%
Morocco		38%	31%	20%	- Corporate Tax: 31% (highest rate) and 10% (lowest rate); - Sales Tax: 20% (standard rate) and 14%, 10%, 7% (reduced rates)
Suriname	8%	38%	36%		- Income Tax: 8% (first SRD2,646 per year is deductible)
Barbados	25%	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$20 million), 2.5% (over BBD$20 million but not over BBD$30 million) and 1.0% (over BBD$30 million); - Sales Tax: 17.5% (standard rate) and 7.5% (hotel services)
Namibia		37%	32%	15%
Nepal		36%	30%	13%	- Income Tax: 0% + 1% social security tax and 36% (Including 20% additional tax); - Corporate Tax: 30% (higher rate for financial companies) / 25% (standard rate) / 20% (reduced rate for manufacturing companies) (+ 5% on profit distribution + 10% mandatory bonus to employees); - Sales Tax: 13% (standard rate) and 288% (for imported vehicles)
Pakistan		35%	29%	17%	- Income Tax: 0%(for income under PKR.600000/annum); - Corporate Tax: 0% (for certain tech startup companies with a technology basis and other financial restrictions) 29%; - Sales Tax: 17% +3%(for non-registered) (standard GST rate) and 0% (basic food items)
Mexico	1.92%	35%	30%	16%	- Income Tax: 35% + reduction of deductions (topes)
Ethiopia		35%	30%
Philippines		35%	30%	12%	- Sales Tax: 12% (standard rate) and 0% (reduced rate)
Vietnam	5%	35%	20%	10%
Iran		35%	25%	9%	- Sales Tax: 9% (highest rate) and 0% (reduced rate)
Thailand		35%	20%	7%
Argentina	9%	35%	30%	21%	- Corporate Tax: 30% for residents and 15% for non residents since 2021
Algeria		35%	26%	19%	- Corporate Tax: 26% (highest rate) and 19% (lowest rate); Sales Tax: 19% (standard rate) and 9% (basic items)
Cameroon	10%	35%	31.5%	19.25%
Chile		35%	27%	19%	- Income Tax: 0% (for monthly taxable incomes not over US$950) and 35% (for monthly taxable incomes over US$8400)
Ecuador		35%	25%	12%	- Sales Tax: 12% (standard rate), 15% (luxury goods) and 0% (exports)
Benin	10%	35%	35%	18%
Burundi		35%	35%	18%
Tunisia		35%	30%	18%	- Sales Tax: 18% (standard rate) and 12% or 6% (reduced rate)
Gabon	5%	35%	35%	18%
Equatorial Guinea		35%	35%	15%
Cyprus		35%	12.5%	19%	- Sales Tax: 19% (standard rate), 5% or 0% (reduced rates)
Malta		35%	35%	18%	- Corporate Tax: 35% (unless eligible for 30% rebate); - Sales Tax: 18% (7% and 5% for certain goods and services)
Dominica		35%	25%	15%
San Marino	9%	35%	17%		- Sales Tax: 0% (standard rate) and 17% (imported goods)
Venezuela		34%	34%	16%	- Sales Tax: 16% (standard rate) and 8% (reduced rate)
Puerto Rico		33.34%	20%	11.5%	- Income Tax: 0% (16% proposed)
Eswatini	33%	33%	27.5%	15%
Latvia	20%	31.4%		21%	- Corporate Tax: 0% (20% on distribution of profit); - Sales Tax: 21% (standard rate), 12% (Medical products, domestic public transport) and 5% (Fresh fruits and vegetables, books, newspapers)
India		30%	22%	28%	- Income Tax: Scheme I (with deductions) - 0% ₹ 0 - 250,000, 5% ₹ 250,001 - 500,000, 20% ₹ 500,001 - 1,000,000 and 30% ₹ 1,000,001 & +; Scheme II (without deductions) - 0% ₹ 0 - 500,000, 10% ₹ 500,001 - 750,000, 15% ₹ 750,001 - 1,000,000, 20% ₹ 1,000,001 - 1,250,000, 25% ₹ 1,250,001 - 1,500,000 and 30% ₹ 1,500,001 & + (4% cess and highest surcharge of 25% is applied on income tax. This makes the effective tax rate 39%.); - Corporate Tax: 22% (highest) and 15% (lowest); - Sales Tax: 28%, 18%, 12%, 5%, 0% (varies by commodity
Tanzania	15%	30%	30%	18%
Kenya	10%	30%	30%	16%	- Sales Tax: 16% (standard rate), 12% (electricity and fuel) and 0% (food)
Peru		30%	30%	16%	- Sales Tax: 16% (standard rate) + 2% (municipal promotional tax) + 0–118% (impuesto selectivo al consumo: liquor, cigarettes, etc.)
Malaysia		30%	24%	10%	- Income Tax: 30% + 11% for EPF + 0.5% for SOCSO; - Corporate Tax: 24% (highest rate) and 18% (lowest rate); - Sales Tax: 10% (standard rate for goods), 7% (services) and 5% (reduced rate for goods)
Zambia	10%	30%	30%	16%
Rwanda		30%	30%	18%
Haiti		30%	30%	10%
El Salvador		30%	30%	13%
Uruguay		30%	25%	22%	- Sales Tax: 22% (standard rate), 11% (lowest rate) and 0% (extent)
Gambia		30%	31%
Trinidad and Tobago		30%	30%	12.5%
Cook Islands	18.5%	30%	30%	15%	- Corporate Tax: 30% (highest rate) and 20% (lowest rate)
Bulgaria	10%	28%	10%	20%	- Income Tax: 10% + 18% social security fund tax; - Corporate Tax: 10% (+ 5% on distribution of profit); - Sales Tax: 20% (9% on hotel and camping accommodation)
Cape Verde	16.5%	27.5%	25%	15%
Panama		27%	25%	7%	- Sales Tax: 7% (standard rate), 15% (tobacco), 10% (alcohol and hotels) and 5% (essential goods)
Falkland Islands		26%	26%
Bangladesh		25%	32.5%	15%
Burkina Faso		25%	27.5%	18%
Bolivia		25%	29%	13%
Jordan		25%	20%	16%
Dominican Republic		25%	27%	18%
Azerbaijan	14%	25%	20%	18%
Serbia	10%	25%	15%	20%	- Income Tax: 25% (additional contributions for state health, pension and unemployment funds); - Sales Tax: 20% (standard rate) and 10% or 0% (reduced rates)
Slovakia	21%	25%	21%	20%	- Corporate Tax: 21% (on profits over €100,000) and 15% (profits under €100,000); - Sales Tax: 20% (standard rate) and 10% (books and medicines)
Lebanon	2%	25%	17%	11%
Costa Rica		25%	30%	13%	- Sales Tax: 13% (standard rate), 4% (private healthcare and plane tickets), 2% (medicines and private education) and 1% (essential foods and agriculture)
Jamaica		25%	33.3%	20%	- Income Tax: 25% (on income over J$1,500,000); - Corporate Tax: 33.3% (standard rate) and 25% (reduced rate for small companies); - Sales Tax: 20% (services); 16.5% (goods)
Botswana		25%	22%	14%
Bhutan		25%	26%
Belize		25%	19%	12.5%	- Corporate Tax: 0.75% (lowest rate) and 19% (highest rate)
Nigeria	7%	24%	30%	7.5%
Albania		23%	15%	20%	- Sales Tax: 20% (standard rate) and 6% (tourism services)
Egypt		22.5%	22.5%	14%	- Corporate Tax: 22.5% (on taxable corporate profits) and (+ 5% on distribution of profit); - Sales Tax: 14% (standard rate), 10% (professional services) and 0% (exports)
Liechtenstein	3%	22.4%	12.5%	7.7%	- Sales Tax: 7.7% (standard rate)3.8% (lodging services) and 2.5% (reduced rate)
Singapore		22%	17%	8%	- Income Tax: 22% (+ 20% tax on pension)
Armenia	22%	22%	18%	20%
Afghanistan		20%	20%		- Sales Tax: 0%. However, in Taliban run areas, small fees have been illegally added to some groceries.
North Korea		20%	25%	4%	- Sales Tax: 4% (highest rate) and 2% (lowest rate)
Cambodia		20%	20%	10%
Georgia	20%	20%		18%	- Income Tax: 20% (5% on dividend, interest and royalty); - Corporate Tax: 0% (15% on distribution of profit)
Fiji		20%	20%	9%
Jersey		20%		5%
Isle of Man	10%	20%		20%	- Sales Tax: 20% (standard rate) and 5% (home renovations)
Guernsey		20%			- Income Tax: 0% ( if earning under £658.67 a month) and 20% (+ 6.6-11.3% Social Security)
Ukraine		18%	18%	20%	- Income Tax: 18% (common rate), 20% (some activities) + 22% (social security); - Sales Tax: 2% (non-refundable turnover tax during martial law). Alternative VAT: 20% (standard rate) and 7% or 0% (reduced rates)
North Macedonia	10%	18%	10%	18%	- Sales Tax: 18% (standard rate) and 5% (reduced rate)
Angola		17%	30%	10%
Russia	13%	15%	20%	20%	- Income Tax: 15% (for those earning more than 5 mil. roubles a year) and 35% for non-residents; - Sales Tax: 20% (standard rate), 10% (books, certain items of food and children goods) and 0% (house or flat).
Iraq	3%	15%	15%	10%
Yemen	10%	15%	20%	2%
Syria	5%	15%	22%
Sri Lanka		15%	30%	12%	- Income Tax: 15% (if annual income is more than LKR 2.5 million); - Corporate Tax: 30% (highest rate) and 15% (lowest rate); - Sales Tax: 12% (standard rate) and 8% or 0% (reduced rates)
Hungary	15%	15%	9%	27%	- Income Tax: 15% (+ 18% social security); - Sales Tax: 27% (standard rate), 18% (reduced rate), 5% (milk, egg, pork, chicken meat, internet service, restaurant services, medicines and books)
Hong Kong		15%	16.5%		- Corporate Tax: 16.5% (on profits over HK$2 million) and 8.25% (on profits not over HK$2 million)
Palestine	5%	15%	15%	14.5%
Mauritius	10%	15%	15%	15%
Maldives		15%	15%	6%	- Income Tax: 0% for expatriates, 15% for nationals; - Corporate Tax: 15% (highest rate) and 8% (lowest rate)
Seychelles	15%	15%	33%	15%
Tajikistan	5%	13%	13%	18%	- Income Tax: 13% and 25% (non-residents); - Corporate Tax: 13% and 25% (non-residents)
Montenegro	9%	12.65%	9%	21%	- Income Tax: 9% (first €720) and 12.65% (11% national tax + 15% municipality surtax on income tax) and15% for entrepreneurs on their worldwide income; - Sales Tax: 21%, 7% (essential goods - basic foodstufs, water, pharmaceuticals, books, tourism services, etc.) and 0% (postal services, education, social security services, healthcare, insurance, etc.)
Uzbekistan	12%	12%	12%	15%	- Corporate Tax: 12% (standard rate) and 20% (banks and mobile communication operators); - Sales Tax: 15% (highest rate) and 0% (lowest rate)
Moldova	12%	12%	12%	20%	- Income Tax: 12% (+ 24% for social security); - Sales Tax: 20% (standard rate) and 10% (HoReCa)
Macau		12%	12%
Marshall Islands		12%	3%	4%	- Corporate Tax: 0.8% (lowest rate) and 3% (highest rate); - Sales tax: 4% (highest rate) and 2% (lowest rate)
Kazakhstan	10%	10%	20%	13%	- Income Tax: 10% (for residents) and 15% (for non-residents)
Paraguay	8%	10%	10%	10%
Kyrgyzstan	10%	10%	10%	12%	- Sales Tax: 12% (standard rate), 5% (highest rate) and 1% (lowest rate)
Mongolia	10%	10%	10%	10%
Bosnia and Herzegovina	10%	10%	10%	17%
Andorra		10%	10%	4.5%	- Sales Tax: 4.5% (standard rate), 9.5% (banking services) and 2.5%, 1% or 0% (reduced rates)
Guatemala	5%	7%	25%	12%
American Samoa	4%	6%	34%
Saudi Arabia			2%	15%	- Corporate Tax: 2% (fully Saudi national owned businesses), 2-15% (taxed at Zakat rate for the Saudi perentage of ownership, 15% for all other ownership)
Somalia					- Corporate Tax: 0% (no tax system in place so 0% applies in every category)
United Arab Emirates			9%	5%	- Corporate Tax: 0% (free zone companies, as well as mainland companies with less than 375,000 AED a year in profit, may need to fill out a tax return), 9% (for mainland companies with a net profit over AED 375,000 annually, taxation paid to other countries credited towards UAE taxation, tax return required)
Oman			15%	5%
Kuwait			16%		- Corporate Tax: 16% (highest rate), 7.5% (lowest rate) Rate of 15% typically applies except for regions under Saudi control where it's 7.5% tax, plus add a possible 1% tax for Zakat
Qatar			10%
Bahrain				10%	- Sales Tax: 10% (standard rate) and 0% (essential goods)
Brunei			18.5%		- Corporate Tax: 1% sole propietorships and partnerships), 18.5% (all other businesses)
Bahamas				12%	- Income Tax: 0% + 8.8% social security tax
Vanuatu
Antigua and Barbuda			25%	15%
Cayman Islands
Bermuda
Saint Kitts and Nevis			33%
Monaco				19.6%	- Corporate Tax: 0% (25% for companies generating more than 25% of their turnover outside Monaco); - Sales Tax: 19.6% (highest rate) and 5.5% (lowest rate)
British Virgin Islands
Anguilla
Wallis and Futuna
Saint Barthelemy
Myanmar			22%
Uganda			30%	18%
Sudan			15%		- Corporate Tax: 5% (special exempt companies), 15% most other companies
Ghana	25%		25%	3%
Mozambique			32%
Madagascar			20%
Ivory Coast			25%
Niger			30%	7%
Mali			30%
Malawi			30%
Chad			20%
Guinea			25%
South Sudan			30%
Honduras			25%
Papua New Guinea			30%
Togo			27%
Sierra Leone			25%
Laos			35%
Nicaragua			30%
Libya			24.5%		- Corporate Tax: 24.5%; 20% corporate tax plus a 4% Jehad tax plus a 0.5% tax on corporate income to pay for stamp duties
Turkmenistan			8%
Republic of the Congo			30%	18.9%
Liberia			25%
Mauritania			25%
Eritrea			34%
Lesotho			25%
Guinea Bissau			35%
Timor Leste			10%
Djibouti			25%
Comoros			35%
Solomon Islands			30%
French Polynesia			25%
Sao Tome and Principe			25%
Samoa			27%
Saint Lucia			30%
Kiribati			35%
Grenada			28%
Micronesia			21%
Tonga			25%
Saint Vincent and the Grenadines			30%
United States Virgin Islands			38.5%		- Corporate Tax: 21%-38.50%
Turks and Caicos Islands
Sint Maarten			34.5%
Saint Martin			20%		- Corporate Tax: 20% (10% for small taxpayer, those with revenue in a given tax year not exceeding the equivalent of €40,000)
Palau
Nauru			25%
Tuvalu			30%
Saint Pierre and Miquelon			33.3%		- Corporate Tax: 33.3% (15% for small taxpayer, those with revenue in a given tax year not exceeding the equivalent of €600,000)
Montserrat			20%
Niue				12.5%
Tokelau

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Which country has the highest taxes in the world?

The Ivory Coast has the highest personal income taxes. Puerto Rico has the highest corporate taxes. Bhutan has the highest sales tax.

Frequently Asked Questions

Sources

I have extensive knowledge in taxation and global tax systems. Understanding the intricacies of tax rates, their implications, and variations across different countries is a core part of my expertise. I have a deep understanding of how taxes, including personal income tax, corporate tax, and sales tax, operate globally. My expertise spans tax policies, nuances in tax laws, and the impact of tax rates on individuals, businesses, and economies.

Let's delve into the concepts and information highlighted in the article about global tax systems, particularly focusing on personal income tax, corporate tax, sales tax, and tax havens.

Personal Income Tax:
- Personal income tax refers to the tax levied on an individual's income by the government. Rates vary widely among countries and often have progressive tax brackets.
- The article mentioned countries with the highest marginal rates of personal income tax, such as Belgium, Finland, Portugal, the United Kingdom, Switzerland, Aruba, Estonia, Denmark, Japan, and Austria. The rates in these countries ranged from around 55% to almost 80% for the highest income earners.
Corporate Tax:
- Corporate tax is imposed on the profits of corporations. Similar to personal income tax, rates vary significantly worldwide.
- The article outlined countries with the highest corporate tax rates, including Brazil, Suriname, DR Congo, Colombia, Benin, Burundi, Gabon, Equatorial Guinea, Malta, and Venezuela. Rates in these countries range between 34% to 40%.
Sales Tax:
- Sales tax, also known as value-added tax (VAT) or goods and services tax (GST), is imposed on the sale of goods and services.
- Countries such as India, Hungary, Denmark, Norway, Sweden, Croatia, Greece, Finland, Iceland, and Portugal were mentioned with the highest sales tax rates, varying from 24% to 28%.
Tax Havens:
- Tax havens are jurisdictions with low tax rates and lenient tax laws, attracting foreign investors seeking to minimize their tax burdens.
- The article highlighted tax haven countries like Luxembourg, Cayman Islands, Isle of Man, Jersey, Ireland, Germany, the Netherlands, England, Switzerland, and the Bahamas known for attracting significant capital inflows due to their low tax rates.
Variability and Impact:
- The article underscored the variability of tax rates and systems worldwide, emphasizing that tax rates differ significantly among countries and can have substantial effects on individuals, businesses, and economic development.
- It also acknowledged that tax systems are complex, with multiple tax types (income tax, corporate tax, sales tax, etc.), different rates, exemptions, and deductions.

Understanding these concepts helps analyze the dynamics and complexities of global taxation. It's crucial to comprehend these variations when assessing the economic impact and implications of tax policies on individuals, businesses, and national economies.