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Countries Where Citizens Pay The Least Income Tax: Believe It Or Not, 4 Nations Charge 0%

Here's a list of countries where the highest tax rate is set at 35 percent and below. Read on for more

Feb 13, 2020 / 07:28 AM IST
As the income tax rate varies in among the several countries with the maximum of 35 percent rate, there are countries where residents pay the lowest to ‘0’ percent. Check out the list of countries ranked on the basis of their top tax rate. (Image: Reuters)
Citizens across the world are burdened with income taxes, however there are four countries where people are not charged any tax on their income. Here's a list of countries where the highest tax rate is 35 percent and below. India does not figure on this list as the maximum income tax charged is 42.7 percent. The list has been compiled by Love Money. (Image: Reuters)
No 10 | With 35 percent of tax rate Mexico tops the list of the highest taxes paid by the people. Following this, Malta also has a progressive tax system with highest tax rate of 35 percent. (Image: Reuters)
Mexico and Malta | Citizens in Mexico pay a maximum of 35 percent income tax. Malta too has a progressive tax system, with the highest income tax rate being 35 percent. (Image: Reuters)
Old Quebec Canada
Canada, New Zealand and Poland | People in Canada and New Zealand pay a maximum of 33 percent, while those in Poland are charged a maximum 32 percent of their income in taxes. (Image: Reuters)
People wait for the lunar eclipse at Amman Citadel in Amman, Jordan. (Image: Reuters)
Jordan, Trinidad and Tobago, Malaysia and Brazil | The highest tax slab in Jordan is 30 percent. Citizens in Trinidad and Tobago are also charged 30 percent in taxes, while Malaysia has a highest income tax rate of 28 percent and Brazil levies a maximum of 27.5 percent as income tax. (Image: Reuters)
No 7 | Dominican Republic’s highest tax rate is 25% and Sri Lanka’s tax band reaches to its highest at 24 percent. (Image: Reuters)
Dominican Republic and Sri Lanka | Dominican Republic charges a maximum of 25 percent as income tax, while the maximum tax on income in Sri Lanka has been set at 24 percent. (Image: Reuters)
No 6 | Egypt has a progressive tax system with its highest at 22.5 percent, Singapore at 22 percent and Czech Republic at 22 percent. (Image: Reuters)
Egypt, Singapore and Czech Republic | Egypt has a progressive tax system with maximum of 22.5 percent, while Singapore and Czech Republic have set their maximum at 22 percent. (Image: Reuters)
No 5 | As Madagascar has the top rate of 20 percent, the residents of Fiji enjoy the ‘no tax’ liberty on a specific income, the highest rate goes to 20 percent. Similarly Isle of Man tax rate increases to the highest of 20 percent.
Madagascar, Fiji, Isle of Man | All the three countries charge a maximum of 20 percent as income tax from resident. (Image: Reuters)
No 4 | Hong Kong tax rates rises to just 17 percent. Resident of Costa Rica are subject to low income tax with the top rate of 15 percent. Hungary’s income is charged with the maximum rate of 15 percent. (Image: Reuters)
Hong Kong, Costa Rica and Hungary | The tax rates in Hong Kong is 17 percent, while residents of Costa Rica are subject to a lower income tax of 15 percent. Residents in Hungary are charged a maximum of 15 percent as tax on their income. (Image: Reuters)
Artists perform at the Sabantuy, a summer festival marking the end of spring crop planting, in Kazan, Russia. (Photo: Reuters)
Russia, Bolivia and Macau | Russia, with the fixed rate at 13 percent, is among the few countries with the lowest income tax rate. Bolivia with just 13 percent and Macau at 12 percent join the club of countries that levy the lowest income tax on residents. (Image: Reuters)
No 3 | Bolivia is among the few countries with lowest rate of income tax at just 13 percent. Russia with the fixed rate at 13 percent and Macau at 12 percent join the cue of the countries with lowest income tax No 2 | Montenegro’s residents are subject to an income tax of highest at 11% while Bulgaria have a fixed rate of 10 percent. However, Guatemala have a very low tax on their income with highest at 7 percent. (Image: Reuters)
Montenegro, Bulgaria and Guatemala | Montenegro’s residents are subject to an income tax of a maximum 11 percent. Those in Bulgaria pay 10 percent and Guatemala levies just 7 percent tax on the income of residents. (Image: Reuters)
Qatar, Bahamas, United Arab Emirates and Saudi Arabia | These countries levy zero percent tax on the income of residents. (Image: Reuters)
Qatar, Bahamas, United Arab Emirates and Saudi Arabia | These countries levy zero percent tax on the income of residents. (Image: Reuters)
Moneycontrol News
first published: Feb 13, 2020 07:28 am

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