World Tax Rates 2024

Country Income Tax Social Security VAT
Corporate Individual Employer Employee
Albania 0-15% 0-23% 16.7% 11.2% 20%
Argentina 30% 9-35% 27% 17% 21%
Australia 30% 17-45%     10%GST
Austria 23% 25%-55% 21.83% 18.2% 20%
Barbados 9% 28.5%     17.50%
Belarus 18% 12% 34% 1% 20%
Belgium 25% 25-50% 40.58% 13.07% 21%
Brazil 34% 7.5-27.5% 37.3% 11% 10-15%
Bulgaria 10% 10% 18,92%-19.62% 13.78% 20%
BVI 0 0      
Canada 15%(federal) 15-33%(Federal)     5%(gst)
China 25% 3-45% 29% 11% 3%-13%
Croatia 18% 30% 15.20% 20% 25%
Cyprus 12.5% 0-35% 12% 8.3% 19%
Czech Rep. 21% 15%/23% 34% 11% 21%
Denmark 22% 0-56% 0 DKK 900 25%
Egypt 22.5% 10-25%     14%
Estonia 20% 20% 33% 1.6% 22%
Finland 20% 0-55% 19.47% 9.14% 24%
France 25% 11%-45% 50% 20% 20%
Georgia 15% 20% 2 2 18%
Germany 30-33%(effective) 14-45% 19.7% 20.6% 19%
Gibraltar 10% 0-41% Gip 32.97/week Gip 25.16/Week  
Greece 22% 9%-44% 24.81% 15.75% 24%
Hong kong 8.25%/16.50% 15% 5% 5%  
Hungary 9% 15% 13% 18.5% 27%
India 25%-40% 10-30% 12% 12% 18%
Indonesia 25% 0-35% 3.7% 2% 10%
Ireland 12.50% 20-40% 11.05% 4% 23%
Israel 23% 10-47% 7.25% 12% 17%
Italy 24% 23%-43% 30% 10% 22%
Japan 23.2%/23.4% 5-45% 15.448% 14.643% 8%(consump)
Latvia 20% 31% 23.59% 10.50% 21%
Libya 20% 13% 11.25% 3.75%  
Lithuania 15% 0-32% 32.6% 9% 21%
Luxemburg 18% 0-42% 14.69% 13.45% 17%
Malta 35% 15-35% 10% 10% 18%
Mexico 30% 0-35% 25% 5% 16%
Moldova 12% 12% 26.5% 9.5% 20%
Monaco 33.33 0%     19.60%
Morocco 31% 0-38%     20%
Montenegro 9% 9%/15% 8.3% 24% 21%
Netherlands 15%/25.8% 37.07%/49.5% 18% 27.6% 21%
New Zealand 28% 0-39%     15%gst
Norway 22% 22% 14.1% 7.8% 25%
Pakistan 29% 0-35%     17%
Panama 25% 15-25% 12% 9% 7%
Philippines 30% 0-35% PHP 1,090 PHP 500 12%
Poland 9%/19% 12%/32% 22.14% 13.7% 23%
Portugal 21% 14.5-48% 23.75% 11% 23%
Romania 16% 10% 10.25% 35% 19%
Russia 20% 13% 30% 0 20%
Saudi Arabia 20% 20%     5%
Serbia 15% 10-20% 19.9% 19.9% 20%
Singapore 17% 0-22% 17% 20% 9% (gst)
Slovakia 21% 19%/25% 34.8% 13.4% 20%
Slovenia 19% 16%-45% 16.1% 22.1% 22%
South Africa 28% 0-45%     15%
Spain 25% 0-47% 30.4% 6.45% 21%
Sweden 20.6% 0-25%     25%
Switzerland 8.5% 0-11.5% (federal) 25.08% 20.73% 2.6/3.8/8.1%
Thailand 20% 5-35% 5% 5% 7%
Tunisia 25% 15-35% 16.57 9.18 19%
Turkey 22% 15-40% 20.5% 14% 18%
U.A.E. 20%/55% 0% 12.5%/15% 5% 5%
U.K. 25% 0-45% 13.8% 12% 20%
Ukraine 18% 18% 22% 3.6% 20%
U.S.A. 21% 10%-37% 7.65% 5.65%  
Vietnam 20% 5-35% 21% 9% 10%
Zambia 35% 0-37.5%     16%
(Last partial update February 22, 2024)

1. In countries in which VAT is charged at a number of different rates, the rate in the table is the highest rate.
2. The rates in the Table do not include Local tax, if it exists.
3. Social security rates are the highest rates. Unlike income tax social security contributions are generally imposed on income up to a ceiling.




Tax and Business News 2024

  • Barbados Corporate Tax 2024
    Starting January 1, 2024 the corporate income tax rate in Barbados is increased to 9% for annual income exceeding BBD 2 million. February 2024.
  • Czech Republic Corporate Tax 2024
    Starting January 1, 2024 the corporate income tax rate in the Czech Republic is increased from previous 19% to 21%. February 2024.
  • U.S. January Job Report
    The U.S. labor department reported on February 5, 2024 that the U.S. economy added in January 2024 353,000 new jobs. The unemployment rate stayed unchanged at 3.7%. February 2024.
  • Israel Credit Rating Downgrade
    Moody's downgraded Israel's credit rating by one notch, from A1 to A2 with a negative outlook. February 2024.
  • U.S. December Job Report
    The U.S. labor department reported on January 5, 2024 that 216,000 new jobs were added to the American economy in December 2023, the 36th rise in a row, the longest so far. January 2024.
  • Switzerland Angola Tax Agreement
    The two countries signed on December 1, 2023 a double tax agreement, DTA. The DTA includes reduced tax withholding rates for dividends, interest and royalties. January 2024.
  • Israel Interest Rate Cut
    The Israeli central bank lowered on January 1, 2024 the basic interest rate from 4.75% to 4.5%, the first cut in nearly four years. January 2024.
  • Estonia VAT Rise
    Starting January 1, 2024 the standard VAT rate in Estonia is 22% compared to the previous 20% rate. The reduced and super reduced VAT rates will increase on January 1, 2025. January 2024.
Older updates





Tax and Business News & Articles

General Articles
  • From Dream To Reality: Transforming Your Passion into a Thriving Business
  • Navigating the Maze: Understanding US Taxation on Foreign Income
  • Evolution of Marbella and its Real Estate Developments
  • Cash advances for merchants: what are they?
  • Taxes on CFD Trading Profits: A Guide for US Citizens
  • Resolving Medical Billing Challenges for Healthcare Professionals
  • 10 Ways To Make Money With E-Commerce
  • Deciphering the Basics: Starting an Australian Business Branch in Saudi Arabia
  • Fair Credit Score? Here's Your Roadmap to Securing a Personal Loan
  • The Essentials Of Tax Planning For US Expats: Tips And Strategies?
  • Unlocking Value: The Power of Prepaid Assets in Business
  • Strategic Property Tax Savings in Australia: An Investor's Guide
  • Tax Loss Harvesting in the Crypto Market: Capitalizing on Losses to Offset Gains
  • Are You Paying Too Much in Crypto Taxes?
  • Demystifying Crypto Taxes in the US for 2023
  • Estate Planning for Digital Assets: Ensuring Smooth Transfer and Tax Efficiency
  • Cryptocurrencies as Payment: Examining the Growing Acceptance of Digital Assets
  • Cross-Border Payment Innovations: Advancements in Global Money Transfer
  • Escaping the Crypto Tax Trap: Strategies to Evade Detection
  • Payday Loans And Personal Loans: What's the Difference?
  • Taxation of Tokenized Securities: Analyzing Tax Treatments for Security Tokens
  • 6 In-Depth Tax Tips for Canadians
  • Learn how to earn passive income with crypto
  • Is my car accident settlement taxable'? – Here's what you should know
  • Tax implications of data breaches – all you need to know
  • Tax 101: Understanding what, how and why you pay
  • Tips for Getting Out of Credit Card Debt
  • Payment Methods: Types Of Payment Options Optimized For E-Commerce
  • Tax Withholding Rates
  • Compensation And Damages Awarded for Personal Injuries Are Free from Tax
  • Tax implications on personal injury compensation
  • Is taxing season stressing you out? Here’s how to effortlessly manage it
  • Are you more susceptible to data breaches when using online tools
  • International Asset Protection Navigating: Tax Implications And Legal Boundaries
  • A Crash Course of Gen Z Model of Investing In 2022