IP TAXATION INDEX

The IP Taxation Index evaluates and assesses the relative tax burdens of over 180 of the world’s most important cities. The extent to which individuals and businesses are subject to taxes is the primary determinant of how tax-friendly a jurisdiction is. Cities that score at the top do not impose taxes or levy a very small amount. Tax rates are typically the same across the country but might change from one city to the next. The Taxation Index considers issues from the point of view of those with high incomes because tax rates are frequently evaluated compared to the highest tax band.
In most cases, an individual’s level of taxable income will be significantly impacted by the amount of wealth that they have. The index considers various parameters, including but not limited to wealth tax, social security tax, and inheritance tax. Obviously, the Cayman Islands have a taxation structure that is more advantageous for affluent people than France, but between France and Denmark, it is possible to make an argument for both countries. In addition, proper tax planning has the potential to significantly reduce the amount of money an individual is required to pay in taxes. Even if you reside in a nation with a high overall tax burden, there are ways that you may be able to dramatically reduce the amount of tax that you are required to pay.

IP TAXATION INDEX

COUNTRY CITY Health Care Cost of living Rent - Apartment University Fees U. Fee Type Annual Costs of Living Annual Cost with Uni.
Monaco Monaco $ 3,500 $ 96,000 $ 21,760 $ 26,000 Foreign $ 360,620 $ 386,620
USA New York $ 8,000 $ 87,600 $ 6,610 $ 47,000 Foreign $ 174,920 $ 221,920
USA San Francisco $ 8,000 $ 75,600 $ 6,350 $ 54,000 Foreign $ 159,800 $ 213,800
USA Los Angeles $ 8,000 $ 72,000 $ 4,400 $ 78,000 Foreign $ 132,800 $ 210,800
Cayman Islands George Town $ 3,500 $ 101,760 $ 4,730 $ 30,000 Foreign $ 162,020 $ 192,020
Bermuda Hamilton Public $ 111,600 $ 5,200 $ 18,000 Foreign $ 174,000 $ 192,000
USA Boston $ 8,000 $ 73,200 $ 4,330 $ 55,000 Foreign $ 133,160 $ 188,160
Angola Luanda $ 3,500 $ 58,800 $ 9,980 $ 3,500 Local $ 182,060 $ 185,560
USA Miami $ 8,000 $ 64,800 $ 3,570 $ 47,000 Foreign $ 115,640 $ 162,640
Switzerland Zurich $ 3,500 $ 106,800 $ 4,180 $ 1,300 Foreign $ 160,460 $ 161,760
Switzerland Lausanne $ 3,500 $ 109,200 $ 3,300 $ 1,200 Foreign $ 152,300 $ 153,500
Luxembourg Luxembourg City $ 3,500 $ 103,200 $ 3,550 $ 500 Foreign $ 149,300 $ 149,800
Switzerland Geneva $ 3,500 $ 105,600 $ 3,180 $ 2,000 Foreign $ 147,260 $ 149,260
Australia Sydney Public $ 68,400 $ 3,830 $ 32,000 Foreign $ 114,360 $ 146,360
UK London Public $ 80,400 $ 4,280 $ 14,000 Foreign $ 131,760 $ 145,760
Hong Kong Hong Kong $ 3,500 $ 63,600 $ 4,480 $ 16,000 Foreign $ 120,860 $ 136,860
Sweden Stockholm $ 3,500 $ 82,800 $ 2,390 $ 20,000 Foreign $ 114,980 $ 134,980
Ireland Dublin $ 3,500 $ 60,000 $ 3,780 $ 26,000 Foreign $ 108,860 $ 134,860
Iceland Reykjavik $ 3,500 $ 99,600 $ 2,500 $ 700 Foreign $ 133,100 $ 133,800
Netherlands Amsterdam Public $ 82,800 $ 3,280 $ 10,000 Foreign $ 122,160 $ 132,160
Denmark Copenhagen Public $ 93,600 $ 1,510 $ 16,000 Foreign $ 111,720 $ 127,720
Anguilla The Valley $ 3,500 $ 71,000 $ 1,600 $ 33,750 Foreign $ 93,700 $ 127,450
UAE Dubai $ 3,500 $ 60,000 $ 3,120 $ 22,000 Foreign $ 100,940 $ 122,940
Australia Brisbane Public $ 68,400 $ 2,170 $ 28,000 Foreign $ 94,440 $ 122,440
New Zealand Auckland Public $ 69,600 $ 2,400 $ 24,000 Foreign $ 98,400 $ 122,400
Norway Oslo Public $ 93,600 $ 2,360 $ 50 Foreign $ 121,920 $ 121,970
Singapore Singapore Public $ 66,000 $ 3,990 $ 8,000 Local $ 113,880 $ 121,880
Australia Melbourne Public $ 61,200 $ 2,530 $ 30,000 Foreign $ 91,560 $ 121,560
Jersey Saint Helier Public $ 74,760 $ 3,010 $ 9,000 Foreign $ 110,880 $ 119,880
British Virgin Islands Road town Public $ 82,500 $ 2,650 $ 5,200 Foreign $ 114,300 $ 119,500
France Paris Public $ 75,600 $ 3,360 $ 2,000 Foreign $ 115,920 $ 117,920
Italy Milan Public $ 73,200 $ 3,150 $ 4,000 Foreign $ 111,000 $ 115,000
Grenada Saint George's Public $ 62,280 $ 930 $ 40,000 Local $ 73,440 $ 113,440
Liechtenstein Vaduz $ 3,500 $ 73,200 $ 2,880 $ 1,000 Foreign $ 111,260 $ 112,260
Italy Venice $ 3,500 $ 76,680 $ 2,520 $ 1,600 Foreign $ 110,420 $ 112,020
Finland Helsinki Public $ 81,600 $ 2,330 $ 100 Foreign $ 109,560 $ 109,660
Germany Munich $ 3,500 $ 70,800 $ 2,810 $ 1,150 Foreign $ 108,020 $ 109,170
Macau Macau Public $ 75,600 $ 2,090 $ 8,000 Foreign $ 100,680 $ 108,680
Lebanon Beirut $ 3,500 $ 62,400 $ 1,830 $ 20,000 Local $ 87,860 $ 107,860
Malta Valletta $ 3,500 $ 69,600 $ 2,730 $ 1,000 Local $ 105,860 $ 106,860
Isle of Man Douglas Public $ 70,800 $ 1,450 $ 18,000 Foreign $ 88,200 $ 106,200
Bahamas Nassau Public $ 73,200 $ 2,590 $ 1,400 Foreign $ 104,280 $ 105,680
Gibraltar Gibraltar $ 3,500 $ 54,840 $ 3,480 $ 4,500 Foreign $ 100,100 $ 104,600
Turks and Caicos Islands Providenciales $ 3,500 $ 67,200 $ 2,500 $ 1,500 Foreign $ 100,700 $ 102,200
Japan Tokyo Public $ 58,800 $ 3,110 $ 6,000 Foreign $ 96,120 $ 102,120
Germany Frankfurt $ 3,500 $ 67,200 $ 2,470 $ 500 Foreign $ 100,340 $ 100,840
Canada Toronto Public $ 61,200 $ 2,710 $ 6,000 Local $ 93,720 $ 99,720
Italy Rome Public $ 66,000 $ 2,400 $ 4,000 Foreign $ 94,800 $ 98,800
Canada Vancouver Public $ 57,600 $ 2,900 $ 4,000 Local $ 92,400 $ 96,400
Spain Madrid $ 3,500 $ 57,600 $ 2,050 $ 10,000 Foreign $ 85,700 $ 95,700
Belgium Brussels $ 3,500 $ 67,200 $ 1,860 $ 2,000 Foreign $ 93,020 $ 95,020
Spain Barcelona $ 3,500 $ 57,600 $ 1,880 $ 10,000 Foreign $ 83,660 $ 93,660
Barbados Bridgetown $ 3,500 $ 66,000 $ 840 $ 14,000 Foreign $ 79,580 $ 93,580
Trinidad and Tobago Port of Spain Public $ 70,800 $ 1,240 $ 7,150 Local $ 85,680 $ 92,830
France Nice Public $ 64,800 $ 2,260 $ 500 Foreign $ 91,920 $ 92,420
Saint Kitts and Nevis Basseterre Public $ 62,040 $ 2,100 $ 5,000 Local $ 87,240 $ 92,240
Germany Berlin $ 3,500 $ 62,400 $ 2,110 $ 600 Foreign $ 91,220 $ 91,820
Kuwait Kuwait City Public $ 38,400 $ 1,920 $ 30,000 Local $ 61,440 $ 91,440
Vanuatu Port Vila $ 3,500 $ 56,160 $ 2,290 $ 3,600 Local $ 87,140 $ 90,740
Austria Vienna $ 3,500 $ 60,000 $ 1,990 $ 2,000 Foreign $ 87,380 $ 89,380
South Korea Seoul Public $ 54,000 $ 2,270 $ 6,000 Local $ 81,240 $ 87,240
Turks and Caicos Islands Cockburn Town $ 3,500 $ 63,900 $ 1,500 $ 1,500 Foreign $ 85,400 $ 86,900
Qatar Doha Public $ 50,400 $ 2,820 $ 2,000 Local $ 84,240 $ 86,240
Cyprus Limassol Public $ 57,600 $ 1,690 $ 3,500 Local $ 77,880 $ 81,380
UAE Abu Dhabi $ 3,500 $ 45,600 $ 2,580 $ 1,000 Foreign $ 80,060 $ 81,060
Seychelles Victoria Public $ 46,560 $ 2,150 $ 6,000 Local $ 72,360 $ 78,360
Canada Montreal Public $ 51,600 $ 1,770 $ 3,500 Local $ 72,840 $ 76,340
Portugal Lisbon $ 3,500 $ 46,800 $ 1,940 $ 2,000 Foreign $ 73,580 $ 75,580
Bahrain Manama Public $ 40,800 $ 1,710 $ 13,800 Local $ 61,320 $ 75,120
China Shanghai Public $ 38,400 $ 2,870 $ 2,000 Local $ 72,840 $ 74,840
Estonia Tallinn $ 3,500 $ 55,200 $ 1,090 $ 3,000 Foreign $ 71,780 $ 74,780
Dominica Roseau Public $ 55,320 $ 740 $ 10,000 Local $ 64,200 $ 74,200
Philippines Manila Public $ 30,000 $ 2,270 $ 16,000 Local $ 57,240 $ 73,240
Cyprus Nicosia Public $ 55,200 $ 1,090 $ 3,660 Local $ 68,280 $ 71,940
Slovenia Ljubljana $ 3,500 $ 50,400 $ 1,330 $ 70 Foreign $ 69,860 $ 69,930
Latvia Riga $ 3,500 $ 49,200 $ 950 $ 5,000 Foreign $ 64,100 $ 69,100
Nigeria Lagos $ 3,500 $ 33,600 $ 2,630 $ 250 Local $ 68,660 $ 68,910
China Beijing Public $ 33,600 $ 2,400 $ 6,000 Local $ 62,400 $ 68,400
Czech Republic Prague Public $ 42,000 $ 1,580 $ 6,000 Foreign $ 60,960 $ 66,960
Slovakia Bratislava $ 3,500 $ 46,800 $ 1,280 $ 1,000 Local $ 65,660 $ 66,660
Antigua and Barbuda Saint John's Public $ 34,800 $ 1,150 $ 18,000 Local $ 48,600 $ 66,600
Andorra Andorra la Vella $ 3,500 $ 43,200 $ 1,480 $ 2,000 Local $ 64,460 $ 66,460
Iran Tehran $ 3,500 $ 34,800 $ 1,620 $ 8,000 Local $ 57,740 $ 65,740
Panama Panama City Public $ 46,800 $ 1,560 $ 100 Local $ 65,520 $ 65,620
Greece Athens $ 3,500 $ 50,400 $ 870 $ 50 Local $ 64,340 $ 64,390
Poland Warsaw Public $ 42,000 $ 1,510 $ 4,000 Foreign $ 60,120 $ 64,120
Croatia Split Public $ 49,200 $ 1,030 $ 1,200 Foreign $ 61,560 $ 62,760
India Chennai Public $ 19,200 $ 3,460 $ 2,000 Local $ 60,720 $ 62,720
Thailand Bangkok Public $ 37,200 $ 1,940 $ 2,000 Local $ 60,480 $ 62,480
Kenya Nairobi $ 3,500 $ 31,200 $ 880 $ 17,000 Local $ 45,260 $ 62,260
Taiwan Taipei Public $ 40,800 $ 1,580 $ 2,000 Local $ 59,760 $ 61,760
Ethiopia Addis Ababa $ 3,500 $ 40,800 $ 1,410 $ 200 Local $ 61,220 $ 61,420
Lithuania Vilnius Public $ 45,600 $ 1,020 $ 3,000 Foreign $ 57,840 $ 60,840
China Shenzhen $ 3,500 $ 34,800 $ 1,710 $ 2,000 Local $ 58,820 $ 60,820
South Africa Cape Town Public $ 38,400 $ 1,510 $ 4,000 Local $ 56,520 $ 60,520
Russia Moscow Public $ 37,200 $ 1,830 $ 1,000 Local $ 59,160 $ 60,160
Dominican republic Santo Domingo $ 3,500 $ 37,320 $ 730 $ 10,000 Local $ 49,580 $ 59,580
Saint Lucia Castries Public $ 41,340 $ 1,290 $ 2,260 Local $ 56,820 $ 59,080
Jordan Amman Public $ 44,400 $ 630 $ 5,500 Local $ 51,960 $ 57,460
Greece Corfu $ 3,500 $ 41,040 $ 940 $ 1,000 Local $ 55,820 $ 56,820
Chile Santiago Public $ 42,000 $ 860 $ 4,000 Foreign $ 52,320 $ 56,320
Hungary Budapest Public $ 39,600 $ 1,010 $ 4,000 Foreign $ 51,720 $ 55,720
South Africa Johannesburg Public $ 40,800 $ 930 $ 3,500 Local $ 51,960 $ 55,460
Fiji Suva Public $ 36,000 $ 1,310 $ 3,600 Local $ 51,720 $ 55,320
Guatemala Guatemala City $ 3,500 $ 33,600 $ 900 $ 7,200 Local $ 47,900 $ 55,100
Mauritius Port Louis Public $ 39,840 $ 860 $ 4,400 Foreign $ 50,160 $ 54,560
Colombia Bogota Public $ 27,600 $ 840 $ 16,000 Local $ 37,680 $ 53,680
Mexico Mexico City $ 3,500 $ 34,800 $ 1,230 $ 500 Local $ 53,060 $ 53,560
Costa Rica San Jose Public $ 42,000 $ 900 $ 600 Foreign $ 52,800 $ 53,400
China Nanjing Public $ 28,800 $ 1,170 $ 10,000 Local $ 42,840 $ 52,840
Indonesia Jakarta $ 3,500 $ 28,800 $ 1,340 $ 4,000 Local $ 48,380 $ 52,380
Romania Bucharest Public $ 38,400 $ 910 $ 3,000 Foreign $ 49,320 $ 52,320
Oman Muscat Public $ 36,000 $ 1,120 $ 2,000 Local $ 49,440 $ 51,440
Morocco Casablanca $ 3,500 $ 31,200 $ 920 $ 5,300 Local $ 45,740 $ 51,040
Saudi Arabia Riyadh Public $ 39,600 $ 820 $ 1,000 Local $ 49,440 $ 50,440
Laos Vientiane $ 3,500 $ 28,800 $ 1,430 $ 50 Local $ 49,460 $ 49,510
Cambodia Phnom Penh $ 3,500 $ 31,200 $ 1,220 $ 50 Local $ 49,340 $ 49,390
Uruguay Montevideo Public $ 39,600 $ 760 $ 500 Local $ 48,720 $ 49,220
Ecuador Quito $ 3,500 $ 34,800 $ 820 $ 1,000 Local $ 48,140 $ 49,140
St Vincent and The Grenadines Kingstown Public $ 34,320 $ 800 $ 5,000 Local $ 43,920 $ 48,920
Thailand Phuket Public $ 33,600 $ 1,120 $ 1,500 Local $ 47,040 $ 48,540
Taiwan Kaohsiung Public $ 37,200 $ 810 $ 1,500 Local $ 46,920 $ 48,420
Serbia Belgrade Public $ 36,000 $ 800 $ 2,000 Local $ 45,600 $ 47,600
China Suzhou Public $ 33,600 $ 990 $ 2,000 Local $ 45,480 $ 47,480
Vietnam Ho Chi Minh City $ 3,500 $ 28,800 $ 1,220 $ 200 Local $ 46,940 $ 47,140
Turkey Istanbul Public $ 25,200 $ 560 $ 15,000 Local $ 31,920 $ 46,920
Russia Saint Petersburg Public $ 30,000 $ 990 $ 5,000 Local $ 41,880 $ 46,880
Bulgaria Sofia Public $ 36,000 $ 820 $ 1,000 Local $ 45,840 $ 46,840
China Hangzhou $ 3,500 $ 26,400 $ 1,210 $ 2,000 Local $ 44,420 $ 46,420
Montenegro Budva Public $ 35,280 $ 820 $ 1,000 Local $ 45,120 $ 46,120
Taiwan Taichung Public $ 35,000 $ 890 $ 200 Local $ 45,680 $ 45,880
Ukraine Kiev $ 3,500 $ 27,600 $ 1,060 $ 2,000 Local $ 43,820 $ 45,820
Saudi Arabia Jeddah Public $ 37,200 $ 600 $ 1,000 Local $ 44,400 $ 45,400
El Salvador San Salvador $ 3,500 $ 32,400 $ 760 $ 200 Local $ 45,020 $ 45,220
Honduras Tegucigalpa $ 3,500 $ 29,400 $ 830 $ 2,100 Local $ 42,860 $ 44,960
Tanzania Dar es Salaam $ 3,500 $ 25,200 $ 1,170 $ 2,000 Local $ 42,740 $ 44,740
China Guangzhou Public $ 27,600 $ 1,260 $ 2,000 Local $ 42,720 $ 44,720
India Mumbai Public $ 22,800 $ 1,640 $ 2,000 Local $ 42,480 $ 44,480
Peru Lima Public $ 28,800 $ 910 $ 4,000 Local $ 39,720 $ 43,720
India Bangalore Public $ 20,400 $ 600 $ 16,000 Local $ 27,600 $ 43,600
Syria Damascus $ 3,500 $ 28,800 $ 690 $ 3,000 Local $ 40,580 $ 43,580
Malaysia Kuala Lumpur $ 3,500 $ 27,600 $ 870 $ 2,000 Local $ 41,540 $ 43,540
Nicaragua Managua $ 3,500 $ 33,000 $ 500 $ 1,000 Local $ 42,500 $ 43,500
Belarus Minsk $ 3,500 $ 27,600 $ 680 $ 4,000 Foreign $ 39,260 $ 43,260
Egypt Cairo Public $ 28,800 $ 350 $ 10,000 Local $ 33,000 $ 43,000
China Tianjin Public $ 30,000 $ 1,070 $ 50 Local $ 42,840 $ 42,890
Bangladesh Dhaka $ 3,500 $ 22,800 $ 420 $ 11,500 Local $ 31,340 $ 42,840
Iraq Baghdad $ 3,500 $ 28,800 $ 810 $ 50 Local $ 42,020 $ 42,070
China Foshan $ 3,500 $ 27,600 $ 730 $ 2,000 Local $ 39,860 $ 41,860
Paraguay Asuncion $ 3,500 $ 26,400 $ 590 $ 4,000 Local $ 36,980 $ 40,980
Macedonia Skopje Public $ 27,600 $ 530 $ 7,000 Foreign $ 33,960 $ 40,960
China Qingdao Public $ 26,400 $ 980 $ 2,000 Local $ 38,160 $ 40,160
Brazil Sao Paulo Public $ 28,800 $ 890 $ 100 Local $ 39,480 $ 39,580
Vietnam Hanoi $ 3,500 $ 26,400 $ 770 $ 200 Local $ 39,140 $ 39,340
China Wuhan Public $ 28,800 $ 710 $ 2,000 Local $ 37,320 $ 39,320
Azerbaijan Baku $ 3,500 $ 26,400 $ 700 $ 900 Local $ 38,300 $ 39,200
Honduras San Pedro Sula $ 3,500 $ 26,400 $ 570 $ 2,400 Local $ 36,740 $ 39,140
Albania Durres $ 3,500 $ 27,600 $ 490 $ 2,000 Local $ 36,980 $ 38,980
Sri Lanka Colombo Public $ 25,200 $ 1,140 $ 50 Local $ 38,880 $ 38,930
Morocco Dakhla $ 3,500 $ 25,128 $ 650 $ 2,000 Foreign $ 36,428 $ 38,428
Bolivia La Paz $ 3,500 $ 25,200 $ 640 $ 2,000 Local $ 36,380 $ 38,380
Kazakhstan Almaty Public $ 24,000 $ 650 $ 6,000 Local $ 31,800 $ 37,800
China Shenyang Public $ 28,800 $ 570 $ 2,000 Local $ 35,640 $ 37,640
Georgia Tbilisi $ 3,500 $ 22,800 $ 710 $ 2,700 Local $ 34,820 $ 37,520
India New Delhi $ 3,500 $ 22,800 $ 590 $ 4,000 Local $ 33,380 $ 37,380
China Chongqing Public $ 28,800 $ 530 $ 2,000 Local $ 35,160 $ 37,160
China Changsha Public $ 26,400 $ 700 $ 2,000 Local $ 34,800 $ 36,800
Brazil Brasilia Public $ 25,200 $ 780 $ 2,000 Local $ 34,560 $ 36,560
Mongolia Ulaanbaatar $ 3,500 $ 22,800 $ 630 $ 2,600 Local $ 33,860 $ 36,460
Argentina Buenos Aires Public $ 28,800 $ 550 $ 1,000 Local $ 35,400 $ 36,400
China Ningbo Public $ 26,400 $ 660 $ 2,000 Local $ 34,320 $ 36,320
China Chengdu Public $ 25,200 $ 700 $ 2,000 Local $ 33,600 $ 35,600
Moldova Chisinau Public $ 27,600 $ 540 $ 1,200 Local $ 34,080 $ 35,280
Uzbekistan Tashkent $ 3,500 $ 22,800 $ 580 $ 2,000 Local $ 33,260 $ 35,260
Venezuela Caracas $ 3,500 $ 22,800 $ 610 $ 50 Local $ 33,620 $ 33,670
Brazil Rio de Janeiro Public $ 25,200 $ 680 $ 50 Local $ 33,360 $ 33,410
Kazakhstan Astana Public $ 25,200 $ 600 $ 1,000 Local $ 32,400 $ 33,400
Colombia Medellin Public $ 26,400 $ 490 $ 50 Local $ 32,280 $ 32,330
Brazil Belo Horizonte Public $ 24,000 $ 470 $ 2,000 Local $ 29,640 $ 31,640
China Wuxi Public $ 22,800 $ 550 $ 2,000 Local $ 29,400 $ 31,400
Colombia Cali Public $ 24,000 $ 450 $ 50 Local $ 29,400 $ 29,450
Tunisia Tunis Public $ 24,000 $ 420 $ 50 Local $ 29,040 $ 29,090
India Hyderabad Public $ 19,200 $ 490 $ 2,000 Local $ 25,080 $ 27,080
Algeria Algiers Public $ 20,400 $ 450 $ 50 Local $ 25,800 $ 25,850
India Kolkata Public $ 19,200 $ 450 $ 50 Local $ 24,600 $ 24,650
Pakistan Karachi $ 3,500 $ 16,800 $ 300 $ 50 Local $ 23,900 $ 23,950
Pakistan Lahore $ 3,500 $ 15,600 $ 290 $ 50 Local $ 22,580 $ 22,630
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METHODOLOGY

All of the data was collected in January 2021. This data indicates the rates in effect throughout the fiscal year 2021. A tax resident is subject to all of the rates.
The source is derived from the three primary classifications of taxation systems. A tax with a territorial foundation only applies to revenue earned inside a certain region. When a tax has a residential base, it is collected on the inhabitants’ total income from all sources. A tax charged on citizens’ worldwide income is said to have a citizenship base. In most cases, the taxes system will classify income as domestic or international.
The term “tax residency” refers to the circumstances under which an individual might be designated a tax resident of a certain location.
The personal income tax rate applied on a jointly filed yearly salary of one hundred thousand United States dollars is the income tax of 100K. It assumes no tax deductions were claimed to get a lower tax rate. In the case of nations that impose a supplementary tax, both the exemption and the social security deduction were computed. Some jurisdictions impose tax at several federal, regional, and local levels.
Income tax for $1,000,000 is calculated using the same approach as income tax for $100,000; however, the tax rate applies to a jointly filed yearly salary of USD 1,000,000 or more.
Large companies are required to pay corporate tax. Unless something else is specified, it is a tax on the profit (see notes). Rates for corporations might vary significantly from one sector to the next. In the instance of the incremental tax rate, we decided to go with the highest possible tax rate. Some jurisdictions impose corporation taxes at federal, regional, and local levels.
A general sales tax, often called a consumption tax or value-added tax (VAT), is a tax applied to purchasing products and services that fall under a broader category. The average sales tax rate for alcoholic beverages and cigarettes is rather high, whereas the average rate for food is relatively low. Some jurisdictions have the authority to levy taxes at the federal, regional, and local levels.
The amount shown for the Social Security Total column indicates the combined contributions the employer and employee made towards social security. The rates are frequently capped and might differ according to age, income level, and occupation. The rate may include a variety of benefits such as a pension, medical care, unemployment insurance, and so on.
The tax charged on the estate via the inheritance received by the children (linear) of the dead person is referred to as the inheritance tax (children). The rate is an estimate of the maximum rate that applies to the inheritance of a real estate property and represents the rate that applies to the inheritance of a real estate property. Stamp duty may be imposed on the transfer of assets in places that do not have an inheritance tax but do have a tax on the transfer of assets.
The term “capital gain on locally publicly traded shares” refers to the tax imposed on a person’s capital gains generated from selling locally publicly listed shares on a stock exchange after the individual has held onto the shares for more than three years. The rate differs for each individual following their proportion of firm ownership. The price that you see mentioned is for a fractional portion of ownership.
The tax rate that applies to dividends people collect from publicly traded corporations on the local stock exchange is the dividend tax on local publicly traded shares. The price that you see mentioned is for a fractional portion of ownership.
The phrase “dividend tax on foreign shares” refers to the tax applied on dividends paid to an individual by a foreign firm. The dividends are counted towards the total amount of revenue from abroad.
An individual’s total net worth is subject to yearly taxation based on the wealth tax. The highest possible rate of taxes that applies is used to arrive at an assessment of the assets’ net worth.
When a person leaves a nation, they are subject to an exit tax, also known as an expatriation tax. This tax is applied in the usual course of events. When one leaves a country, unrealized capital gains are subject to taxation in many situations, but in many cases, the taxation of these gains can be postponed until the assets in question are sold.
Special tax regime. In several parts of the world, affluent people are exempt from paying taxes at a rate that is considered to be excessive. It may be to the taxpayer’s advantage to participate in one of these schemes, such as giving up a large payment or claiming non-domiciled tax status.
China’s tax treaty determines whether or not the nation in question has signed a tax treaty with China. If you are a Chinese national, you may use this to your advantage to avoid paying double taxation on money earned outside of China.
Source:
Most of the tax rates were obtained from official government sources, most of the time coming from the website of the tax department or the ministry of finance. Because rates can be imposed at the federal, regional, and local levels, many tax rates result from combining more than one source. The references were extremely lacking on several government websites, and the material could not be accessed online. In certain instances, we relied on the extremely in-depth Tax Summaries provided by PWC.