These are the countries with the lowest income tax rates
Where the gap between gross and net pay is smaller
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LIFESTYLE Taxation
Income taxes are collected by most governments, to generate revenue in a given country. This revenue is then used to provide services and build infrastructure for the country's citizens. But no one wants to pay more tax.
To rank the countries with the lowest income tax rates in the world, Yahoo! Finance considered three metrics: personal income tax rate, corporate income tax rate, and GDP per capita (PPP). The key metric is, of course, the personal income tax rate. But where countries have a similar rate, they are ranked based on their corporate income tax rate. If both of these metrics are also the same between countries, the country’s GDP per capita, as of 2024, has been used to rank them.
Intrigued? Click on to discover the countries with the lowest income tax rates in the world.
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