These 15 Nations Charge 0% Income Tax; These Nations Charge Highest Income Tax In The World
Citizens across the world are burdened with income taxes, however there are four countries where people are not charged any tax on their income. As of today, there are 15 countries with no income tax in the world.
So we have decided to prepare a list for you so that you must know that what is an illegal activity here, is being heavily appreciated around these 5 countries, or so we think.
The following list includes all countries without any kind of income tax. You may not be able to get residence or citizenship in all of them, and some of them aren’t exactly the most livable.
15 Countries with Zero Income Tax
- The Bahamas
- Cayman Islands
- United Arab Emirates
- Western Sahara
Countries with Highest Tax Rate Upto 35%
The maximum income tax charged in India is 42.7%.
- Mexico and Malta: Citizens in Mexico pay a maximum of 35% income tax. Malta too has a progressive tax system, with the highest income tax rate being 35%
- Canada, New Zealand and Poland: Canada and New Zealand’s citizens pay a maximum of 33%, while those of Poland are charged a maximum 32% of their income in taxes.
- Jordan, Trinidad and Tobago, Malaysia and Brazil: Speaking of these countries, the highest tax slab in Jordan is 30%, while citizens of Trinidad and Tobago are also charged 30% in taxes. Also, Malaysia has a highest income tax rate of 28%, while Brazil levies a maximum of 27.5% income tax.
- Dominican Republic and Sri Lanka: Dominican Republic charges a maximum of 25% as income tax, while our neighbor Sri Lanka has been set at a maximum slab of 24% for income tax.
- Egypt, Singapore and Czech Republic: While Egypt has a progressive tax system with maximum of 22.5%, Singapore and Czech Republic have set their maximum at 22%.
- Madagascar, Fiji, Isle of Man: All of these 3 countries charge a maximum of 20% as income tax from their citizens.
- Hong Kong, Costa Rica and Hungary: The tax rate in Hong Kong is 17%, while Costa Roca enjoys a further lower income tax of 15%. Residents in Hungary are charged a maximum of 15% as well as income tax.
- Russia, Bolivia and Macau: Among the few countries with the lowest income tax rate lie these 3 countries, with Russia and Bolivia charged income tax at a fixed rate of 13%, while Macau at 12%.
- Montenegro, Bulgaria and Guatemala: Montenegro’s residents are subject to an income tax of a maximum 11%, while those in Bulgaria pay 10%. Guatemala levies just 7% as income tax.