Income Tax returns: These are the top 5 tax imposing countries
Top 5 tax imposing countries: The salary that you see on your employment letter is never what you receive in hand. The reason is of course taxes. Consultancy firm CapRelo, as reported by Business Insider, studied tax rates and take home salaries in 40 countries and revealed five countries where citizens pay highest taxes on their salary:
Denmark Practical tax rate: 56% Average pre-tax salary: $64,310 Average post-tax salary: $28,227 (Image source: Reuters)
Sweden Practical tax rate: 52% Average pre-tax salary: $46,804 Average post-tax salary: $22,410 (Image source: Reuters)
Belgium Practical tax rate: 45% Average pre-tax salary: $47,674 Average post-tax salary: $26,221 (Image source: Reuters)
Austria Practical tax rate: 42% Average pre-tax salary: $45,819 Average post-tax salary: $26,575 (Image source: Reuters)
The Netherlands Practical tax rate: 41% Average pre-tax salary: $51,669 Average post-tax salary: $30,562 (Image source: Pixabay)