What are the countries with 0 income tax? How much would you love to pay as taxes? I’m sure you would love to pay as low as possible. No wonder tax consultants are your friends. How about paying zero income tax? Yes, you can make legit money without paying any tax. It all depends on where you work and live. If you live in high-tax countries, you may wonder how those countries with lower tax rates make ends meet. Well, they look in other directions to source funds. Let’s now discuss the 12 best countries with zero income tax.
1. Sweden
Sweden is the country with the highest tax rate in the world. But it’s not the richest. It’s only in the Number 7 spot in terms of GDP per capita. The standard of living is high but it’s not the highest. It has very low-income inequality as you’ll pay as much as 57.1% of your earned income as tax.
2. Portugal
To increase equality between the country’s high-income earners and low-income earners, Portugal has a long list of tax allowances deductable in form of health expenses and insurance, a general deduction, and education expenses. Some 56.5% of your income will be deducted.
3. Japan
Japan boasts of being the third-largest economy in the world in terms of nominal GDP. But the poor ones pay unfriendly taxes through their noses. It’s up to 55.95%.
4. Denmark
You wonder why the Danish are the happiest people on earth when their government draws out 55.8% of their per capita income to meet the needs of its people.
5. Austria
While Austria offers its people plenty of nice experiences and exploration, it’s far from being nice whenever they find that 55% of their income is gone as the top marginal rates.
6. Belgium
Though you would enjoy a comfortable and organized life in Belgium, Belgians are groaning under the burden of a tax rate of 53.7% which happens to be the highest in Western Europe.
7. The Netherlands
The country with the 17th largest economy and one of the most densely populated on earth collects as much as 52% of the income as taxes. The Dutch pay tax on almost everything.
8. Finland
Yes, you don’t fear the long days and even cold nights in Finland, the country at the end of the world. You, however, will fear the top marginal tax rate of 51.6% the Finns pay. No wonder there is depression everywhere in Finland.
9. France
France has long been a notorious tax-collecting nation. Its taxmen are happy to slam at French tax over just anything. It will come as a surprise to many that 8 countries charge higher tax than France. The second-largest economy in Europe collects slightly over 50% of its citizen as tax.
10. Israel
Though on the high side, paying 50% of their income as tax shouldn’t be too strange for the Israelis based on their history and geographical location. But expats would be afraid to work and pay half of all they make as taxes.
11. Slovenia
Don’t venture into the European smallest country of Slovenia if you’re not ready to part with 50% of whatever you earn. Occupying the 11th position of the heavily taxed country is not good for such a small country.
12. Italy
It’s pity that the Italian pay as much as 48% of their income as tax just to get what their contemporaries in order countries are enjoying for much lesser.
The above 12 countries are the ones with the highest tax rate in the world. But the country with the highest rate in the world is not necessarily where citizens enjoy the best of amenities.
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