Take-Home Pay Around the World

Federal income tax + state/local taxes. No VAT; sales tax varies by state. FICA (Social Security + Medicare) adds 7.65% on wages.

Federal + provincial taxes combine. Top combined rate reaches 53% in some provinces (Quebec, Ontario). CPP and EI add ~5.95% on wages. GST/HST 5–15% depending on province.

Income tax: 20% basic, 40% higher, 45% additional (>£125,140). National Insurance (NI) adds 8% on earnings £12,570–£50,270. VAT 20%. Capital gains tax 18%/24% (2024 increase).

Income tax up to 42% + solidarity surcharge (Solidaritätszuschlag, 5.5% of income tax for high earners). Social contributions (pension, health, unemployment) ~20% split employer/employee. Church tax ~8–9% for members.

Income tax up to 45% + CSG/CRDS (social contribution surcharges). Employee social charges ~22% of gross wages. Real estate wealth tax (IFI) applies to net real estate above €1.3M. VAT standard rate 20%.

Box 1 (income) up to 49.5%. Box 2 (substantial shareholdings) 31%. Box 3 (savings/investments) taxed on deemed return ~6.36%, then at 36% — effective ~2.3% annual on financial wealth. VAT 21%.

Rates vary greatly by canton and municipality. Federal income tax max ~11.5%; cantonal/municipal adds ~15–35%. No federal capital gains tax on private securities (private investor). Cantonal wealth tax 0.1–1%. Low VAT (8.1%).

Municipal income tax ~32% flat + state tax 20% on income above ~SEK 615,700. Employer social contributions ~31.4% (not employee-paid). Capital gains taxed at 30%. No wealth tax since 2007. Highest VAT in EU at 25%.

Income tax ~22% + bracket surtax up to 17.6% on high incomes. National Insurance contribution 7.9%. Annual wealth tax 1–1.4% on net assets above ~$160K USD equivalent. Dividends taxed at 37.84% above an allowance. Capital gains at 22%.

Highest income taxes in the world. Base rate ~12.11% + municipal ~24% + top bracket 15% on income above ~DKK 618,900. Labour market contribution (AM-bidrag) 8% on gross income. Strong social welfare funded by tax.

Income tax up to 50% + municipal surcharge ~7% of income tax. Employee social contributions 13.07%. Annual securities account tax 0.15% on accounts >€1M. Generally no capital gains tax on private stock sales.

National income tax up to 47% + regional surtax (varies by region). Employee social security 6.35%. Wealth tax (Impuesto sobre el Patrimonio) 0.5–3.5% on net wealth >€700K. Solidarity wealth tax on large fortunes introduced 2022.

Irpef income tax up to 43%. Employee social contributions 9.49%. IVIE/IVAFE taxes on foreign assets held by residents. Flat-tax regime available for new residents (€100K/year lump sum). Regional/municipal surcharges apply.

Income tax up to 47% (incl. Medicare levy 2%). No employee social security contributions — superannuation (15% employer contributions) goes into individual retirement accounts. No wealth tax. Capital gains: 50% discount for assets held >12 months.

National income tax up to 45% + local inhabitant tax ~10%. Employee social insurance ~14.85% (health, pension, employment insurance). Highest inheritance tax globally (55% top rate). No wealth tax. Capital gains flat 20.315%.

National income tax up to 45% + local income surtax 10% of income tax. Employee social contributions ~9.3% (health, national pension, employment insurance). Real estate transaction taxes and holding taxes are significant. No general wealth tax.

Very competitive income tax (0–24%). Employee CPF (Central Provident Fund) contributions 20% of wages (up to age 55), used for retirement/housing/healthcare — effectively deferred compensation. No capital gains tax, no wealth tax. GST 9%.

Salaries tax capped at 15% standard rate or progressive up to 17% — effective rate among lowest globally. Mandatory Provident Fund (MPF) 5%. No GST/VAT. No capital gains tax, no wealth tax, no inheritance tax. Major international financial hub.

Income tax up to 39% (on income >NZD $180,000). KiwiSaver employee contribution 3–10% (voluntary, deferred). No capital gains tax (property investor loophole closed but general CGT rejected 2019). GST 15%.