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Ever wondered which countries have the highest income tax rates? Income tax is the money you pay to the government from the money you earn. Some countries have higher rates than others. In this exploration, we’ll look at the top five countries with the highest income tax rates. Let’s find out which country takes the first spot and learn why it matters to people and businesses. Join us as we explore the world of taxes to see where they are the highest.
Countries with highest income tax rate
Rank 5
- Slovenia, Israel and Belgium impose a 50% personal income tax on citizens.
Rank 4
- Luxembourg stands at fourth position with an income tax rate of 51%.
Rank 3
- With a cost of living of $1,003.64, Finland has a tax rate of 55%.
Rank 2
- Austria which is a social market economy, also taxes its citizen with a rate of 55%.
Rank 1
- Denmark has the highest tax rate in the world with 56%
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