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 and provincial taxes combine. Top combined rate reaches 53% in some provinces such as Quebec and Ontario. CPP and EI add about 5.95% on wages. GST and HST range from 5% to 15% depending on province.

Income tax is 20% basic, 40% higher, and 45% additional above £125,140. National Insurance adds 8% on earnings from £12,570 to £50,270. VAT is 20%. Capital gains tax is 18% or 24% after the 2024 change.

Income tax runs up to 42% plus the solidarity surcharge, which is 5.5% of income tax for higher earners. Social contributions for pension, health, and unemployment are about 20%, shared between employer and employee. Church tax is about 8% to 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 is taxed up to 49.5%. Box 2 for substantial shareholdings is 31%. Box 3 savings and investments are taxed on a deemed return of about 6.36%, then at 36%, which works out to about 2.3% annually on financial wealth. VAT is 21%.

Rates vary greatly by canton and municipality. Federal income tax tops out around 11.5%, while cantonal and municipal tax can add roughly 15% to 35%. There is no federal capital gains tax on private securities for private investors. Cantonal wealth tax usually ranges from 0.1% to 1%. VAT is 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 is about 22% plus a bracket surtax up to 17.6% on higher incomes. National Insurance contribution is 7.9%. Annual wealth tax is 1% to 1.4% on net assets above roughly $160K USD equivalent. Dividends are taxed at 37.84% above an allowance, and 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 runs up to 47% plus a regional surtax that varies by region. Employee social security is 6.35%. Wealth tax, or Impuesto sobre el Patrimonio, ranges from 0.5% to 3.5% on net wealth above €700K. A solidarity wealth tax on large fortunes was introduced in 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 runs up to 47%, including the 2% Medicare levy. There are no employee social security contributions, and compulsory superannuation contributions go into individual retirement accounts. There is no wealth tax. Capital gains often receive a 50% discount after assets are held for more than 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.

Income tax is highly competitive at 0% to 24%. Employee CPF contributions are 20% of wages up to age 55 and are used for retirement, housing, and healthcare, which makes them a form of deferred compensation. There is no capital gains tax and no wealth tax. GST is 9%.

Salaries tax is capped at a 15% standard rate or taxed progressively up to 17%, which produces one of the lowest effective burdens among major financial centers. Mandatory Provident Fund contributions are 5%. There is no GST, no capital gains tax, no wealth tax, and no inheritance tax.

Income tax runs up to 39% on income above NZD $180,000. KiwiSaver employee contribution rates range from 3% to 10% and are voluntary deferred savings. There is no broad-based capital gains tax. GST is 15%.