Which countries tax their citizens the most?

Think you’re paying too much tax?

Ever wondered which countries have the highest income taxes?

The chart below shows that while Australians have a rate of personal income tax, it could be worse. world globe

In general, income taxes are higher in the Nordic countries and in 2019, the highest income earners in Sweden pay a whopping 57.19 percent, more than anywhere else in the world.

Then there were countries like Denmark, Finland, and Iceland with respectively, 55.89, 53.75 and 46.24 percent tax rates.

At the other end of the spectrum, some countries do not have income taxes at all.

Well-known examples include oil-rich countries such as Saudi Arabia, Qatar and Kuwait, which use petroleum revenue to provide for their nationals.

Some Caribbean Islands, such as Anguilla and Antigua and Barbuda, do not have income taxes either.

The Cayman Islands and the Bahamas are also known for being tax havens.

Infographic: Income Tax Around The World | Statista

Source: Statista

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About Michael Yardney

Michael is a director of Metropole Property Strategists who help their clients grow, protect and pass on their wealth through independent, unbiased property advice and advocacy. He's once again been voted Australia's leading property investment adviser and his opinions are regularly featured in the media. Visit Metropole.com.au