CovOps
Location : Ether-Sphere Job/hobbies : Irrationality Exterminator Humor : Über Serious
| Subject: The Top 12 Most Oppressive Tax Countries Fri Jul 03, 2009 6:04 am | |
| For those you who feel like taxes are nothing but the Man keeping you down, perhaps a reason to celebrate: you live in only the 12th most oppressive tax nation!
A Swiss policy institute that promotes tax competition evaluated the 30 OECD (Organization for Economic Cooperation and Development) nations on three main categories - tax attractiveness, public governance and financial privacy - to determine which countries, tax-wise, are the most life-sucking.
Here are the Twelve Most Oppressive →
#12 - USA Though the US has one of the highest corporate tax rates in the world, our general stability (as compared to the rest of the world - we may not be in great shape, but a military coup is unlikely) - landed us at No. 12.
#11 - United Kingdom It was not until 1992 that the Queen had to bear her own tax burden - she started paying income tax that year. Depending on income, her fellow countrymen may pay as much as 50%.
#10 - Greece Needing to increase revenue, the Greek government asked for more than usual from their citizens this year - depending on income and in addition to normal tax requirments, a one-off tax ranging from 1000 to 4000 euros was imposed.
#9 - France After years of lobbying by Paris, the price of dining in France is cheaper as of yesterday. The value-added tax will be reduced to 5.5 percent from 19.6 percent.
#8 - Hungary Hungarians are not as lucky as the French when it comes to the V.A.T this year; in April the prime minister announced the stadard V.A.T. will jump from 20 percent to 25 percent.
#7 - Belgium Despite being the 6th most oppresive tax country, Belgium has created a healthy tax haven for the entertainment industry; companies based in Belgium recieve a 150% tax break on investments in motion pictures, documentaries, animation and some television productions.
#6 The Netherlands The self-employed in the Netherlands have a strong incentive to incorporate themselves - the top tax rate for a corporation is 35 percent while individuals pay as much as 60 percent.
#5 - Germany On top of their progressive income tax rate, which can reach 45 percent, Germans are obligated to pay a "solidarity surcharge" of 5.5 percent of their income.
#4 - Mexico Only 8.8 percent of Mexico's GDP comes from income and sales tax, less than half the average of other developed nations, according to a recent Reuters article. As Mexico continues to struggle, tax reform - in the way of higher taxes - may be on the horizon.
# 3 - Poland Poland, according to the oppression index, is fairly attractive tax-wise, but a lack of confidence in the government and minimal financial privacy make it the number three most oppressive tax nation.
#2 - Turkey The current corporate tax rate in Turkey is 20 percent, but an incentive package proposed for 2010 will bring that way down; in certain regions the corporate tax would be as low as two percent.
No. 1 - Italy For such a beautiful country, Italy is just not tax attractive. A 43 percent personal income tax rate at the top level and an effective corporate tax rate of more than 31 percent, combined with regional taxes, means a lot of money moves from Italian citizens to the well-lined pockets of Silvio Berlusconi.
http://www.businessinsider.com/oppressive-tax-nations-2009-7
YaY! Go Turkey!!!
The neo-tax haven on the horizon... |
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RR Phantom
Location : Wasted Space Job/hobbies : Cayman Islands Actuary
| Subject: Re: The Top 12 Most Oppressive Tax Countries Fri Jul 03, 2009 6:17 am | |
| - Quote :
- Germans are obligated to pay a "solidarity surcharge" of 5.5 percent of their income.
:Madness: |
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CovOps
Location : Ether-Sphere Job/hobbies : Irrationality Exterminator Humor : Über Serious
| Subject: Re: The Top 12 Most Oppressive Tax Countries Fri Jul 03, 2009 6:49 am | |
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| Subject: Re: The Top 12 Most Oppressive Tax Countries | |
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