NEWS & BLOGS

09 May 2023

Personal Income Tax Rate:

 

🇯🇵: 55.97%
🇦🇹: 55%
🇬🇧: 45%
🇫🇷: 45%
🇨🇭: 40%
🇺🇸: 37%
🇭🇰: 15%
🇷🇺: 13%
🇦🇪: 0%

Income tax is a government levy imposed on individuals’ and businesses’ earnings or profits. The tax rate varies based on income level and other factors. The revenue generated from income tax is used to fund government programs and services. Failure to pay income tax can result in penalties, fines, and legal action.