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Employment Income Taxes Worldwide













Employment Income Taxes Worldwide

If you have lived in the U.S. all your life, you must already know the income taxes that workers have to deal with.
But if you're planning to move out of the U.S. and seek employment in other countries, wouldn't it be better to know the taxes in that country as well?
All countries have their own income taxes, and your particular situation will influence the amount of money you'll have to pay.
It's not employment discrimination, but simply how things work worldwide.

Your taxes may be influenced by your marital situation.
So, single and married people will encounter different situations in some countries.
If you're planning to move soon, then we'll tell you more about the average taxes in the world.

Average Taxes in 2020 Based on Continents

Every continent has its own taxes.
In some instances, some taxes were lower in 2020 compared to 2019, although not by much.
Africa had an average of 31.77% for its income tax, whereas Asia had a 28.67% one.
Meanwhile, America had a 32.52% average tax, and Europe had a 31.30% one.
Oceania's average tax was 33.40%.

Where Do You Pay the Highest Income Tax as a Single Person?

What are the countries with the highest income tax for single people?
Well, we're looking at the top five countries, respectively Germany, Belgium, Lithuania, Denmark, and Slovenia.
In Germany, the income tax for a single person will be 39.3%.
The country also has a progressive tax, so those with higher incomes will have to handle more taxes compared to people with lower incomes.
There are multiple sources of taxable income in the country, respectively employment, business ownership, agriculture, rental property, capital gains, savings and investments, and more.
Belgium's tax sits at 39.3%.
They also have a progressive tax rate of 50%.
On top of that, workers will pay a 13.07% security tax.
Lithuania has an income tax of 36.1%.
Dividends have a tax rate of 15%, and the income earners are taxed at rates of 32%.
Denmark's tax is 35.6%.
Meanwhile, the progressive income tax is 55.9%, but there is also an 8% healthcare tax and an 8% Danish labor market contribution tax.
Lastly, Slovenia has a tax of 34.5% for single people. The individual income tax may range from 16% to 50%.

Where Do You Pay the Highest Income Tax If You Are Married?

Some countries will come with higher taxes for people who are married.
The highest tax for married people comes from Lithuania, where the tax is 27.7%.
There are others with high taxes, though.
Turkey sits at 26.5%, and Denmark at 25.2%.
Finland's tax is 24.7%, and the Netherlands has a 24.2% tax.


Final Thoughts It's crucial to know the income taxes in the world if you're ever going to move countries.
Moving to a different place already comes with a lot of responsibilities, so you should be aware of the taxes to prevent any unwanted surprises in the future.
Remember these rates in case you want to move to any of these countries.




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