Holy men who met their unholy ends
Governments run on taxes, which is one of the major means of capital generation for a country. Income tax helps fund public services, provide goods for citizens, and pay for government obligations. While the amount varies from country to country, most nations' personal income taxes have a progressive tax structure. This means the tax rate paid by individuals increases as they earn higher wages.
Furthermore, there are two types of income tax: personal income tax and corporate income tax. Personal income tax applies to an individual's salary, wage, and other types of income. Corporate tax applies to corporations, businesses, partnerships, and the self-employed. In this gallery, we'll look at the highest personal income tax rates in the world. Click on to discover the top 30.
Personal income tax rate: 32%
GDP per capita: US$25,064
Personal income tax rate: 35%
GDP per capita: US$32,048
Personal income tax rate: 35%
GDP per capita: US$34,127
Personal income tax rate: 35.4%
GDP per capita: US$18,570
Personal income tax rate: 36%
GDP per capita: US$93,259
Personal income tax rate: 40%
GDP per capita: US$10,674
Personal income tax rate: 40%
GDP per capita: US$103,983
Personal income tax rate: 42%
GDP per capita: US$125,006
Personal income tax rate: 43%
GDP per capita: US$34,776
Personal income tax rate: 44%
GDP per capita: US$20,867
Personal income tax rate: 44%
GDP per capita: US$50,916
Personal income tax rate: 45%
GDP per capita: US$6,766
Personal income tax rate: 45%
GDP per capita: US$12,720
Personal income tax rate: 45%
GDP per capita: US$46,125
Personal income tax rate: 45%
GDP per capita: US$48,717
Personal income tax rate: 45%
GDP per capita: US$32,422
Personal income tax rate: 45%
GDP per capita: US$40,886
Personal income tax rate: 46.25%
GDP per capita: US$73,466
Personal income tax rate: 47%
GDP per capita: US$29,674
Personal income tax rate: 49.5%
GDP per capita: US$57,025
Personal income tax rate: 50%
GDP per capita: US$54,930
Personal income tax rate: 50%
GDP per capita: US$28,439
Personal income tax rate: 50%
GDP per capita: US$49,926
Personal income tax rate: 52%
GDP per capita: US$33,300
Personal income tax rate: 52.3%
GDP per capita: US$56,373
Personal income tax rate: 53%
GDP per capita: US$24,515
Personal income tax rate: 55%
GDP per capita: US$65,099
Personal income tax rate: 55%
GDP per capita: US$52,084
Personal income tax rate: 55.9%
GDP per capita: US$67,790
Personal income tax rate: 55.97%
GDP per capita: US$33,823
Sources: (Yahoo! Finance) (Insider Monkey) (World Bank) (Euronews)
See also:What are Americans worried about?
Where in the world are people paying the highest taxes?
In which country are residents taxed the highest?
LIFESTYLE Taxes
Governments run on taxes, which is one of the major means of capital generation for a country. Income tax helps fund public services, provide goods for citizens, and pay for government obligations. While the amount varies from country to country, most nations' personal income taxes have a progressive tax structure. This means the tax rate paid by individuals increases as they earn higher wages.
Furthermore, there are two types of income tax: personal income tax and corporate income tax. Personal income tax applies to an individual's salary, wage, and other types of income. Corporate tax applies to corporations, businesses, partnerships, and the self-employed.In this gallery, we'll look at the highest personal income tax rates in the world. Click on to discover the top 30.