It Is Tax Time For Most Countries

Zero Hedge: Which Countries Allow Workers To Take Home The Most Money After Taxes?
As the US moves toward the long-awaited post-COVID reopening, millions of Americans have been pondering the future of work, and how the year of remote work for white collar workers will impact patterns of migration across the US, and perhaps the world. Just the other day, the Wall Street Journal published a lengthy weekend-edition feature about "Zoom Towns".
In the piece, the reporter cited secondary cities like Miami, Austin, Charlotte, Nashville and Denver enjoy a price advantage over more expensive cities like New York and San Francisco. But it also pointed to smaller cities like Gilbert, Ariz., Boulder, Colo., Bentonville, Ark., and Tulsa, Okla.
Read more ….
WNU Editor: Here is a personal perspective.
The personal rate in Russia is a flat tax at 13%. But there is a sales tax, and it is at 20%. Where it hurts is if you have a company in Russia. The corporate tax rate is 20%, but there is a social security tax rate at 30% (there are no social security deductions for employees). My cousins in Russia run a real estate company and they are actively involved in lobbying to change the social and corporate tax rate. I am always laughing at them and wishing them the best.
China's tax rate is dependent on how much you make. The lowest rate is 3%, the highest rate (and you are very rich at this rate) is 45%. The standard corporate rate in China is 25%.
I live in Quebec. And this place is special. The corporate tax rate (both federally and provincially) is around 26%. The top personal rate is around 53%. The sales tax in Quebec (both federally and provincially) is almost 15%. So if you have a company in Quebec and you take a salary from it. Expect giving a massive chunk of it (and more) to the tax man.Original Article

About zekal3_3

Check Also

You Can’t Be What You Can’t See: New Perspectives via Golf

"You can't be what you can't see."—Marian Wright Edelman I was familiar with the words …