Tax rates of Europe
From Wikipedia, the free encyclopedia
This is a list of the maximum potential tax rates around Europe for certain income brackets. It is focused on three types of taxes: corporate and individual taxes and value added taxes (VAT). It is not intended to represent the true tax burden to either the corporation or the individual in the listed country.
The quoted income tax rate is, except where noted, the top rate of tax: Most jurisdictions have lower rate of taxes for low levels of income. Some countries also have lower rates of corporation tax for smaller companies. In 1980, the top federal rates of most European countries were above 60 percent. Today most European countries have rates below 50%.[1]
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This article's factual accuracy is disputed. Please help to ensure that disputed facts are reliably sourced. See the relevant discussion on the talk page. (March 2008) |
| Country | Corporate tax | Maximum Income tax rate | Standard VAT rate |
|---|---|---|---|
| Albania[2] | 10% | 10% | 20% |
| Austria | 25% | 50% | 20% [3] |
| Belarus | 24% | 15% | 20%[2] |
| Belgium | 33.99% | 50% | 21%[3] |
| Bosnia and Herzegovina[4] | 10% | 5% Federal + 0%-15% per location | 17% |
| Bulgaria[5] | 10% | 10% / 15% for self employed individuals | 20%[3] |
| Croatia | 20% | 45% | 23% |
| Cyprus | 10% | 30% | 15%[3] |
| Czech Republic | 21% | 15% | 20%[3] |
| Denmark | 25% | 51.5%[6] At US$75,000 (child allowances and other credits available) additional 15% tax, total = 34.67%, not 51% | 25%[3] |
| Estonia | 21% | 21% | 20%[3] |
| Finland | 26% | 53% | 23%[3][7] |
| France | 33.33% | 41% | 19.6%[3] |
| Germany | 15.825 % (federal) plus 14.35 % to 17.5 % (local) | 45% | 19%[3] |
| Georgia | 20% | 12% | 18% |
| Greece | 25% | 45% | 23%[3] |
| Hungary | 10% | 16% (20.32%, as the 27% social security paid by the employer counts as income as well) [8] | 27%[3][9][10] |
| Iceland | 18%[11] | 46.28%[11] | 25.5%[11] |
| Ireland | 12.50% | 55% (41% Pay As You Earn (PAYE) Tax, 4% Pay-Related Social Insurance (PRSI) and 10% Universal Social Charge (USC)) | 23%[12] |
| Italy | 31.4% | 45% | 21%[3] |
| Latvia | 15% | 23% | 22% |
| Lithuania | 15% (5% for small companies) | 21%[3][13] | 21% |
| Luxembourg | 28.59% | 38.95% | 15%[3] |
| Macedonia[14] | 10% | 10% | 18% |
| Malta | 35% | 35% | 18%[3] |
| Montenegro | 9%[15] | 9%[15] | 17%[15] |
| Netherlands | 25% | 52% [16] | 19%[3] |
| Norway[17][18] | 28% | 54.3% | 25% |
| Poland | 19% | 32% | 23%[3] |
| Portugal | 12.5%-27.5% (Mean tax rate: 15%) | 46.5% | 23% |
| Romania | 16% | 16% | 24%[3][19] |
| Russia | 20% | 13% | 18% |
| Serbia | 10% | 14% | 18% |
| Slovakia | 19% | 19% (additional contributions at 4% Health Care by Employee + 10% Health Care by Employer, 9.4% Social Security by Employee + 19.4% Social Security by Employer) | 20%[3] (10% reduced rate) |
| Slovenia [20] | 20% | 41% | 20%[3] |
| Spain | 30% (28% Basque Country & Navarra, 4% ZEC companies in Canary Islands) | 45% | 18%[3] |
| Sweden | 26.3% | 56.6% | 25%[3] |
| Switzerland | 25% | 45.5% | 8% [21] |
| Turkey | 20% | 40% | 18% |
| Ukraine | 23%, from 1.01.2012 - 21%, from 1.01.2013 - 19%, from 1.01.2014 - 16% | 17% | 20% |
| United Kingdom | 20% for small annual profits under £300000 and 25% for annual profits over £300000 (further annual decreases planned)[22] | 20% for annual incomes up to £35000, 40% for annual incomes between £35000-150000£ and 50% for annual incomes above £150000 [23] | 20% (5% reduced rate for home energy and renovations, 0% for life necessities - groceries, water, prescription medications, medical equipment and supplies, public transport, children clothing, books and periodicals) [3] |
[edit] See also
- List of countries by tax revenue as percentage of GDP
- VAT Rates
- Tax Freedom Day
- Tax haven
- Tax rates around the world
[edit] References
- ^ "Top Marginal Personal Income Tax Rates". Tax Policy Center. 2008. http://www.taxpolicycenter.org/taxfacts/Content/PDF/oecd_historical_toprate.pdf. Retrieved 2011-12-26.
- ^ a b Federation of International Trade Associations : country profiles
- ^ a b c d e f g h i j k l m n o p q r s t u v w x All current EU standard rates are from European Commission, VAT Rates Applied in the Member States of the European Community, Situation at 1 January 2009, http://ec.europa.eu/taxation_customs/resources/documents/taxation/vat/how_vat_works/rates/vat_rates_en.pdf, consulted 23 August 2009.
- ^ Fabel Werner Schnittke - International Consulting and Auditing Company
- ^ Bulgaria cuts corporate tax to 10 percent - iht,business,economics, world economy,Bulgaria Corporate Tax - Business - International Herald Tribune
- ^ "SKAT: Income tax rates". Skat.dk. http://www.skat.dk/SKAT.aspx?oId=1880327&vId=0. Retrieved 2011-05-12.
- ^ Change in VAT rates as of 1 July 2010
- ^ http://www.ahkungarn.hu/fileadmin/ahk_ungarn/Dokumente/Bereich_CC/Veranstaltungen/2011/2011-03/2011-03-09_Radnoczy/Valsagado_adovalsag.pdf
- ^ "VAT hike pushes Hungary's consumer price inflation to 5.1% in July". Realdeal.hu. 2009-08-11. http://www.realdeal.hu/20090811/vat-hike-pushes-hungarys-consumer-price-inflation-to-51-in-july. Retrieved 2011-05-12.
- ^ "Hungary plans bigger budget cuts, VAT hike to 27 pct". 2012-01-01. http://www.xe.com/news/2011-09-16%2010:53:00.0/2161365.htm. Retrieved 2012-01-03.
- ^ a b c [1][dead link]
- ^ "VAT increase to 23% confirmed". Irish Times. 2011-12-06. http://www.irishtimes.com/newspaper/breaking/2011/1206/breaking63.html. Retrieved 2011-12-07.
- ^ Tax Changes in Lithuania 2009
- ^ Invest in Macedonia | Taxes and Rates
- ^ a b c [2][dead link]
- ^ Dutch Tax Administration, consulted 9 June 2010
- ^ The Norwegian tax reform 2004-2006 - regjeringen.no
- ^ Skatteetaten - Guide to Value Added Tax in Norway
- ^ "Romania plans big VAT rise to secure bail-out funds". BBC News. 2010-06-26. http://news.bbc.co.uk/2/hi/world/europe/10424900.stm. Retrieved 2011-05-12.
- ^ Ministry of Finance - Tax Administration of the Republic of Slovenia
- ^ "Swiss voters approve VAT rate increase". Meridianglobalservices.com. http://www.meridianglobalservices.com/swissincreasevatrate/. Retrieved 2011-05-12.
- ^ HM Revenue & Customers: Corporation Tax rates
- ^ HM Revenue & Customers: Rates and allowances - Income Tax
