20 High Tax Rate Countries 2023 (Which Country Ranks #1)

20 High Tax Rate Countries 2023 (Which Country Ranks #1)

20 High Tax Rate Countries 2023

When it comes to taxes, the United States Tax System has two major flaws. The first flaw is that the United States taxes individuals on their worldwide income. Therefore, even if a Taxpayer resides outside of the United States and earns all of their income from foreign sources –the United States is still be able to tax their income just as if they worked in the United States and earned US sourced income. The second flaw is the unnecessarily high tax rate. High income earners can end up paying nearly 41% tax and even more if they are self-employed and/or have state tax responsibilities (such as California, New York and New Jersey). But, before you decide to pursue your Plan B, give up your US citizenship or permanent residency and seek refuge elsewhere, it is important to know that the United states is not the only high taxed country across the globe. Rather, there are some countries that have even higher tax rates, so let’s take a look at 20 other high tax rate countries.

Which Countries Have Highest Individual Tax Rates?

Let’s take a look at some of the highest taxed countries across the globe for taxation of personal income as opposed to corporate income (noting, that these tax rates are the highest tax rates in the country and that oftentimes the country will have a progressive tax rate so for taxpayers who earn smaller income they may have a lower percentage of tax).

These rates typically exclude self-employment and other related taxes.

      • Aruba: 52%

      • Australia: 45%

      • Austria: 50%

      • Belgium: 55%

      • Canada: 54%

      • China: 45%

      • Curacao: 46.5%

      • Denmark: 57%

      • Finland: 55%

      • Germany: 48%

      • Greece: 44%

      • Israel: 50%

      • Italy: 47%

      • Japan: 55%

      • Morocco: 38%

      • Netherlands: 49.50%

      • Norway: 47%

      • Slovenia: 50%

      • Spain: 54%

      • Sweden: 52%

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