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RCG TAXATION INDEX 2021 BY CITY

The 2021 RCG Taxation Index ranks the tax-friendliness of more than 180 world cities. Tax-friendliness is defined by the degree of taxation at the personal and corporate levels. Cities ranking at the top are free of tax or levy very little tax. Tax rates are often uniform countrywide but can vary from one city to another. The Taxation Index takes the perspective of high-income individuals since tax rates are often compared to the highest bracket. 

The amount of wealth one possesses will usually make a significant difference in his tax liability. Many different factors are weighted in the index, such as wealth tax, social security, and inheritance tax. It’s clear that the Cayman Islands have a more favorable taxation system for the wealthy than France, but between France and Denmark, an argument can be made for both. Furthermore, tax planning can have a significant effect on a person’s tax burden. In some cases, you might be able to significantly lower your tax liability even if you live in a heavily taxed country.

Table below provides reliable data and information on business tax rates and incentives, enabling companies to make decisions on where to invest and grow their business.

WORLD TAX RATES 2021

COUNTRYCITYSourceTax ResidenceIncome tax on 100KIncome tax $1MCorporate taxGeneral Sales TaxSocial Security totalInheritance tax-(Children)Capital gain on local publicly traded sharesDividend tax on local publicly traded sharesDividend tax on foreign sharesWealth TaxExit TaxSpecial Tax regimeChina tax treatynote TAX
AlbaniaSarandeWorldwide183 days or residential ties23%23%15%20%28%0%15%23%23%0%0%Noney
AlgeriaAlgiersWorldwide183 days*35%35%26%19%35%5%15%10%15%2%0%NoneyTTRP: none after 10y. Wealth Tax: from 0% to 1.75% (above 4MUSD), but do not include shares and business ownership. Corporate tax: varies from 19% to 26% and many exemptions are offered to new businesses. Tax Res: Those that own property and income in Algeria can be liable to tax residence.
AndorraAndorra la VellaWorldwide183 days10%10%5%5%0%0%10%10%0%0%0%NonenTTRP: none after 5y if income is wihtin 3 times the minimum. CGMR: receive an exemption if sold after 5 years for a citizen or a PR. Needs to be main residence for at least 2 years and proceeds of sale reinvested into another property. Otherwise 8% for after 5 years (adjusted to inflation). PTC: Tax on Financial bodies (activity 65.42). Property Tax: inludes real estate tax, lighting tax, hygiene tax
AngolaLuandaTerritorial183 days17%17%30%10%11%15%0%0%0%0%0%NonenRITRP: Property tax are none if rented, as it is payed by rental income.
AnguillaThe ValleyTerritorialN/A0%0%0%0%16%0%0%0%0%0%0%Nonen
Antigua and BarbudaSaint John'sWorldwide183 days0%0%25%15%22%*0%0%*0%0%0%0%NonenSocial Security tax: includes social security, medical benefits and education levy. CGTLTS: buyers and sllers of shares are taxed stamp duty on the value of the transaction, 5% to the vendor and 2.5% to the buyer.
ArgentinaBuenos AiresWorldwide183 days*35%35%30%*21%43%5%0%10%35%1%0%NoneyTax Res: Argentinian nationals looses tax residence by getting a foreign PR or on the 14th month abroad. Foreign nationals become tax resident only if they work in Agentina for 6 months a year. Corporate Tax: There is also a gross revenue tax impose by local jursdictions, around 5% for Buenos Aires.
AustraliaBrisbaneWorldwide183 days30%49%30%10%5%0*Income50% of IncomeIncome0%0%NoneyITR: can become tax resident base on status, e.g. someone who immigrates is a tax resident. Inheritance: Capital gain levied if passed on to a foreign resident. Property tax: levied by Territory and City tax. PTC: Based on Central District Group A
AustraliaMelbourneWorldwide183 days30%49%30%10%5%0*Income50% of IncomeIncome0%0%NoneyITR: can become tax resident base on status, e.g. someone who immigrates is a tax resident. Inheritance: Capital gain levied if passed on to a foreign resident. Property tax: levied by Territory and City tax. PTC: for the rate levied by the city of Melbourne, its 4.5% of the rental value
AustraliaSydneyWorldwide183 days30%49%30%10%5%0*Income50% of IncomeIncome0%0%NoneyITR: can become tax resident base on status, e.g. someone who immigrates is a tax resident. Inheritance: Capital gain levied if passed on to a foreign resident. Property tax: levied by Territory and City tax
AustriaViennaWorldwide183 days48%55%25%20%47.5%*0%28%28%Income0%0%NoneyRental Income: 3% of rental contract is also levied for residential properties and 5% for commercial. Social Security tax: includes all additional charges levied.
AzerbaijanBakuWorldwide183 days25%25%20%18%25%0%25%25%25%0%0%Investor Certificate*yInvestor Certificate: provide a 50% discount on income tax.
BahamasNassauNoneN/A0%0%0*8%10%0%0%0%0%0%0%NoneyProperty Tax: Can reach 1% for residential and 2% for commercial for the values above 500K. Corporate Tax: there is no corporate tax per say, but the business licence fees can be levied on your turnover mean for e.g. that a business with $50M turnover will pay 750K for its licence. Rental income: rate of business licence (see corporate tax), can reach a max of 1.5% of turnover.
BahrainManamaNoneN/A0%0%0%5%17%0%0%0%0%0%0%Noney
BangladeshChittagongWorldwide183 days43%*43%*35%15%0%0%15%*IncomeIncome0%0%NoneyCGLS: if hold for more then 5 years. If not regular income rate applies. Income tax: has an additionnal incremental wealth tax, highest rate starts at $250,000. The surcharge is imposed on the income tax declaration, rougly increasing the income tax rate to 43% instead of 30%.
BangladeshDhakaWorldwide183 days43%*43%*35%15%0%0%15%*IncomeIncome0%0%NoneyCGLS: if hold for more then 5 years. If not regular income rate applies. Income tax: has an additionnal incremental wealth tax, highest rate starts at $250,000. The surcharge is imposed on the income tax declaration, rougly increasing the income tax rate to 43% instead of 30%.
BarbadosBridgetownWorldwide183 days26%33%25%*18%21%0%0%IncomeIncome0%0%Non-domicle*yCorporate tax: approved small business and manifacturing business and other qualifying business have rate of 15%. Non-dom: taxed on Barbados income and outside income if remitted.
BelarusMinskWorldwide183 days12%12%26%20%35%0%0%0%0%0%0%Noney
BelgiumBrusselsWorldwideRegistered in national registery56%56%30%21%54%30%33%27%27%0%0%NoneyRental Income: 0.2% of lease amount is needed to be paid to register. Property Tax: levied on the regional and communal level, is based on the cadastral valuation that estimate the annual revenue. CGTR: none after 5 years.
BermudaHamiltonNoneN/A0%0%0%0%19%20%*0%0%0%0%0%NoneySocial Security tax: Incremental and reduction can be applied based on industry and circumstances. Inheritance: stamp duty on the estate in the Bahama is incremental and reach the max of 20% after $2M. The family residence can be exempted.
BoliviaLa PazTerritorialTax on local income only13%13%25%15%29%0%0%0%0%0%0%Nonen
BrazilBelo HorizonteWorldwide183 days*27%28%34%*20%34%5%15%0%Income0%0%NoneyCorporate tax: base rate of 15%+10% surcharge+ 9% social contribution. Tax Res: Brazilian nationals need to
BrazilBrasiliaWorldwide183 days*27%28%34%*20%34%6%15%0%Income0%0%NoneyCorporate tax: base rate of 15%+10% surcharge+ 9% social contribution.
BrazilRio de JaneiroWorldwide183 days*27%28%34%*20%34%4%15%0%Income0%0%NoneyCorporate tax: base rate of 15%+10% surcharge+ 9% social contribution.
BrazilSao PauloWorldwide183 days*27%28%34%*20%34%4%15%0%Income0%0%NoneyCorporate tax: base rate of 15%+10% surcharge+ 9% social contribution.
British Virgin IslandsRoad townNoneN/A0%0%0%0%14%0%0%0%0%0%0%Noney
BulgariaSofiaWorldwide183 days or residential ties10%10%10%20%32%0%0%10%0%0%0%Noney
CambodiaPhnom PenhWorldwide183 days or residential ties20%20%20%10%3%0%0%0%0%0%0%Noney
CanadaVancouverWorldwide183 days or residential ties20%46%27%12%7.14%*0*1/2 of Income10%Income0%Capital Gains*NoneySocial Security Tax: most contributions are capped at CAD7555.32/ year, but the QPIP and the Health service are not. Inheritance: Capital Gains will be lievied but can be differed. Exit Tax: applies even from the moment you stop being a resident, capital gains will be levied as if you have sold your properties at fait market value. Payment can be differe to the time of actual sell if securities are given. Property Transfer Tax: raise up to 2.5% for amounts above CAD 1M. First time home howner can have that amount remboursed.
CanadaTorontoWorldwide183 days or residential ties22%50%27%13%7.14%*0*1/2 of Income11%Income0%Capital Gains*NoneySocial Security Tax: contributions are capped at CAD7135/ year. Inheritance: Capital Gains will be lievied but can be differed. Exit Tax: applies even from the moment you stop being a resident, capital gains will be levied as if you have sold your properties at fait market value. Payment can be differe to the time of actual sell if securities are given. Property Transfer Tax: varies between 0.5% to 1.5%
CanadaMontrealWorldwide183 days or residential ties27%50%27%15%11%*0*1/2 of Income14%Income0%Capital Gains*NoneySocial Security Tax: contributions are capped at CAD7135/ year. Inheritance: Capital Gains will be lievied but can be differed. Exit Tax: applies even from the moment you stop being a resident, capital gains will be levied as if you have sold your properties at fait market value. Payment can be differe to the time of actual sell if securities are given. Property Transfer Tax: varies from 1% to 3%. BC now levies a 15% surtax on foreign buyers.
Cape VerdePraiaWorldwide183 days or residential ties28%28%26%15%23%0%1%10%10%0%0%Nonen
Cayman IslandsGeorge TownNoneN/A0%0%0%0%0%0%0%0%0%0%0%Noney
ChileSantiagoWorldwide6 months*35%35%26%19%23%0%35%35%8%*0%0%Non-domicile*yNon-dom tax: a new resident can be tax on his local based income only for the first 3 years and can apply for an extention. DTFS: those resident before sep 29 2014 can benefit from an 8% taxation rate. Tax Res: 6 months consecutive or 6 months in 2 calendar years
ChinaFoshanWorldwideResidential ties44%45%25%*17%34%0%0%10%*20%0%0%Non-domicile*yNon-domicile tax: non domicile residents are taxed on their Chinese investment income only during the first 5y. Corporate tax: high-tech industries are taxed at 15%. DTLS: varies between 5%- 20% depending on the holding period.
ChinaGuangzhouWorldwideResidential ties44%45%25%*17%34%0%0%10%*20%0%0%Non-domicile*yNon-domicile tax: non domicile residents are taxed on their Chinese investment income only during the first 5y. Corporate tax: high-tech industries are taxed at 15%. DTLS: varies between 5%- 20% depending on the holding period. Social security: estimated
ChinaShenzhenWorldwideResidential ties44%45%25%*17%34%0%0%10%*20%0%0%Non-domicile*yNon-domicile tax: non domicile residents are taxed on their Chinese investment income only during the first 5y. Corporate tax: high-tech industries are taxed at 15%. DTLS: varies between 5%- 20% depending on the holding period. Social security: estimated
ChinaChangshaWorldwideResidential ties44%45%25%*17%40%*0%0%10%*20%0%0%Non-domicile*yNon-domicile tax: non domicile residents are taxed on their Chinese investment income only during the first 5y. Corporate tax: high-tech industries are taxed at 15%. DTLS: varies between 5%- 20% depending on the holding period. Social security: estimated
ChinaChengduWorldwideResidential ties44%45%25%*17%40%*0%0%10%*20%0%0%Non-domicile*yNon-domicile tax: non domicile residents are taxed on their Chinese investment income only during the first 5y. Corporate tax: high-tech industries are taxed at 15%. DTLS: varies between 5%- 20% depending on the holding period.
ChinaChongqingWorldwideResidential ties44%45%25%*17%40%*0%0%10%*20%0%0%Non-domicile*yNon-domicile tax: non domicile residents are taxed on their Chinese investment income only during the first 5y. Corporate tax: high-tech industries are taxed at 15%. DTLS: varies between 5%- 20% depending on the holding period.
ChinaHangzhouWorldwideResidential ties44%45%25%*17%40%*0%0%10%*20%0%0%Non-domicile*yNon-domicile tax: non domicile residents are taxed on their Chinese investment income only during the first 5y. Corporate tax: high-tech industries are taxed at 15%. DTLS: varies between 5%- 20% depending on the holding period. Social security: estimated
ChinaNanjingWorldwideResidential ties44%45%25%*17%40%*0%0%10%*20%0%0%Non-domicile*yNon-domicile tax: non domicile residents are taxed on their Chinese investment income only during the first 5y. Corporate tax: high-tech industries are taxed at 15%. DTLS: varies between 5%- 20% depending on the holding period. Social security: estimated
ChinaNingboWorldwideResidential ties44%45%25%*17%40%*0%0%10%*20%0%0%Non-domicile*yNon-domicile tax: non domicile residents are taxed on their Chinese investment income only during the first 5y. Corporate tax: high-tech industries are taxed at 15%. DTLS: varies between 5%- 20% depending on the holding period. Social security: estimated
ChinaQingdaoWorldwideResidential ties44%45%25%*17%40%*0%0%10%*20%0%0%Non-domicile*yNon-domicile tax: non domicile residents are taxed on their Chinese investment income only during the first 5y. Corporate tax: high-tech industries are taxed at 15%. DTLS: varies between 5%- 20% depending on the holding period. Social security: estimated
ChinaShenyangWorldwideResidential ties44%45%25%*17%40%*0%0%10%*20%0%0%Non-domicile*yNon-domicile tax: non domicile residents are taxed on their Chinese investment income only during the first 5y. Corporate tax: high-tech industries are taxed at 15%. DTLS: varies between 5%- 20% depending on the holding period.
ChinaSuzhouWorldwideResidential ties44%45%25%*17%40%*0%0%10%*20%0%0%Non-domicile*yNon-domicile tax: non domicile residents are taxed on their Chinese investment income only during the first 5y. Corporate tax: high-tech industries are taxed at 15%. DTLS: varies between 5%- 20% depending on the holding period. Social security: estimated
ChinaTianjinWorldwideResidential ties44%45%25%*17%40%*0%0%10%*20%0%0%Non-domicile*yNon-domicile tax: non domicile residents are taxed on their Chinese investment income only during the first 5y. Corporate tax: high-tech industries are taxed at 15%. DTLS: varies between 5%- 20% depending on the holding period.
ChinaWuhanWorldwideResidential ties44%45%25%*17%40%*0%0%10%*20%0%0%Non-domicile*yNon-domicile tax: non domicile residents are taxed on their Chinese investment income only during the first 5y. Corporate tax: high-tech industries are taxed at 15%. DTLS: varies between 5%- 20% depending on the holding period. Social security: estimated
ChinaWuxiWorldwideResidential ties44%45%25%*17%40%*0%0%10%*20%0%0%Non-domicile*yNon-domicile tax: non domicile residents are taxed on their Chinese investment income only during the first 5y. Corporate tax: high-tech industries are taxed at 15%. DTLS: varies between 5%- 20% depending on the holding period. Social security: estimated
ChinaBeijingWorldwideResidential ties44%45%25%*17%44%0%0%10%*20%0%0%Non-domicile*yNon-domicile tax: non domicile residents are taxed on their Chinese investment income only during the first 5y. Corporate tax: high-tech industries are taxed at 15%. DTLS: varies between 5%- 20% depending on the holding period. Social security: estimated
ChinaShanghaiWorldwideResidential ties44%45%25%*17%44%0%0%10%*20%0%0%Non-domicile*yNon-domicile tax: non domicile residents are taxed on their Chinese investment income only during the first 5y. Corporate tax: high-tech industries are taxed at 15%. DTLS: varies between 5%- 20% depending on the holding period. Social security: estimated
ColombiaBogotaWorldwide183 days*31%33%33%*16%25%Capital Gains0%0%Income2%0%NonenCorporate tax: An additional trade tax can be levied by municipalities up to 1%. Tax Res: can be tax resident if at least 50% of income or assets are in Colombia or if residing in tax haven.
ColombiaCaliWorldwide183 days*31%33%33%*16%25%Capital Gains0%0%Income2%0%NonenCorporate tax: An additional trade tax can be levied by municipalities up to 1%. Tax Res: can be tax resident if at least 50% of income or assets are in Colombia or if residing in tax haven.
ColombiaMedellinWorldwide183 days*31%33%33%*16%25%Capital Gains0%0%Income2%0%NonenCorporate tax: An additional trade tax can be levied by municipalities up to 1%. Tax Res: can be tax resident if at least 50% of income or assets are in Colombia or if residing in tax haven.
ComorosMoroniWorldwide183 days30%30%35%0%0%15%15%15%15%0%0%Nonen
Costa RicaSan JoseTerritorial6 months*23%25%30%13%36%0%0%25%0%0%0%NonenTax Res: those under payroll in Costa Rica are tax residents.
CroatiaSplitWorldwide183 days*44%*44%*18%25%37%0%0%12%12%0%0%NoneyIncome tax: includes the 10% surcharge for the city of Split. Tax Res: 183 days in one or 2 years or dispose of a property for 183 days.
CyprusLimassolWorldwide60 days or 183 days*30%35%13%19%19%0%0%17%17%0%0%Non-domicile*yNon-dom: no tax on capital income from Cyprus or abroad. Tax res: for 60 days - cannot stay 183 days in an other country.
CyprusNicosiaWorldwide60 days or 183 days*30%35%13%19%19%0%0%17%17%0%0%Non-domicile*yNon-dom: no tax on capital income from Cyprus or abroad. Tax res: for 60 days - cannot stay 183 days in an other country.
Czech RepublicPragueWorldwide183 days or residential ties15%15%19%21%35%0%0%15%15%0%0%Noney
DenmarkCopenhagenWorldwide6 months consecutive or residential ties31%45%22%25%24.1%*15%Income10%Income0%Capital GainsNoneySocial Security Tax: 10% from employee, employers varies based on activy.
DominicaRoseauWorldwide183 days*29%35%25%15%12%0%0%Income*Income*0%0%NonenDividend tax: you can deduct up to 25% of the net dividend from your income. Tax Res: tax resident if resident the year before or after
Dominican RepublicSanto DomingoWorldwide183 days24%25%27%18%1690%3%*27%0%0%1%0%NonenInheritance: family property can be exempted.
EcuadorQuitoWorldwide183 days17%35%22%12%2055%35%0%IncomeIncome0%0%Noney
EgyptCairoWorldwide183 days or residential ties22%23%23%14%35%0%0%10%*10%0%0%NoneyDTLS: can be reduced to 5% if individual owns over 25% of shares of company and hold over 2 years.
El SalvadorSan SalvadorWorldwide200 days or main source of income27%30%30%13%24%0%0%0%0%0%0%Nonen
EstoniaTallinnWorldwide183 days or residential ties18%20%20%20%39%0%20%*20%*0*0%0%NoneyInvestment Income: local Dividend and capital gains are tax-free if reinvested. Foreign income is tax-free is taxed have been payed on them in foreign country.
EthiopiaAddis AbabaWorldwide183 days35%35%30%15%18%0%15%IncomeIncome0%0%Noney
FijiSuvaWorldwide183 days20%29%20%9%18%0%10%15%Income0%0%Nonen
FinlandHelsinkiWorldwide6 months continious*33%46%20%24%15%19%34%29%26%0%0*NoneyExit tax/Tax Res: can be considered tax resident for another 3 years after departure unless they prove they have had no essential connections.
FranceNiceWorldwideResidential & economic ties15%40%33%20%65%45%*1/2 Income23%23%1%*Capital Gains*NoneyExit tax: if over 50% of shareholding and over €800,000. Furthermore needs to have been a tax resident 6 years in the last 10 years. Wealth tax: taxed on worlwide assets, start after €1.3M at a rate of 0.5% to 1.5% after €10M. Certains nationals of foreign countries are exempted of the wealth tax for the first 5 years. Inheritance Tax: Assets minus liability. Taxed at a progressive rate with an € 100,000 exemption but hits highest margine after € 1,805,677.
FranceParisWorldwideResidential & economic ties15%40%33%20%65%45%*1/2 Income23%23%1%*Capital Gains*NoneyExit tax: if over 50% of shareholding and over €800,000. Furthermore needs to have been a tax resident 6 years in the last 10 years. Wealth tax: taxed on worlwide assets, start after €1.3M at a rate of 0.5% to 1.5% after €10M. Certains nationals of foreign countries are exempted of the wealth tax for the first 5 years. Inheritance Tax: Assets minus liability. Taxed at a progressive rate with an € 100,000 exemption but hits highest margine after € 1,805,677.
GeorgiaTbilisiTerritorial183 days20%20%15%18%0%0%20%5%*0%0%0%NoneyDTLTS: can be exempted if from Free industrial zone, financial institution and from free floating securities.
GermanyBerlinWorldwide6 months or residential ties29%43%29.31%*19%39%30%*25%25%Income0%Capital Gains*NoneyInheritance tax: incremental, 30% is after €26M. €400,000 is exempted. Corporate Tax: includes a 15% federal tax and a regional trade tax. Exit Tax: unrealised capital gains can be levied.
GermanyFrankfurtWorldwide6 months or residential ties29%43%31.06%*19%39%30%*25%25%Income0%Capital Gains*NoneyInheritance tax: incremental, 30% is after €26M. €400,000 is exempted. Corporate Tax: includes a 15% federal tax and a regional trade tax. Exit Tax: unrealised capital gains can be levied.
GermanyMunichWorldwide6 months or residential ties29%43%32.1%*19%39%30%*25%25%Income0%Capital Gains*NoneyInheritance tax: incremental, 30% is after €26M. €400,000 is exempted. Corporate Tax: includes a 15% federal tax and a regional trade tax. Exit Tax: unrealised capital gains can be levied.
GibraltarGibraltarTerritorial*183 days14%20%10%0%30%0%0%0%0%0%0%Lump Sum*nSource: Taxed on foreign income remitted to Gibraltar. STR: Maximum tax contribution capped at £22,000 under Category 2 individuals.
GreeceAthensWorldwideVital interests44%44%24%24%41%10%*15%15%5%0%0%Lump Sum*yLump sum taxation: foreign income can be taxed at a lump sum rate of 100,000 EUR. Inheritance: lump sum tax applicants are exemot from inheritance and gift tax
GreeceCorfuWorldwideVital interests44%44%24%24%41%10%*15%15%5%0%0%Lump Sum*y
GrenadaSaint George'sWorldwide183 days26%30%30%15%9%0%0.75%*0.75%*0.75%*0%0%NonenCapital gains & Dividend: There are no tax on capital gains or dividends, but an Annual Stamp Tax that applies at arate of 0.5% for receipts below $111,000 and 0.75% for receipts above.
GuatemalaGuatemala CityTerritorial183 days7%7%25%12%18%0%10%5%0%0%0%Nonen
HondurasTegucigalpaTerritorial90 days25%25%25%*15%8%0%10%0%0%0%0%NoneyCorporate tax: rate of 25% + 5% solidarity and 0.015% of gross income to the municipality.
HondurasSan Pedro SulaTerritorial90 days25%25%25%*15%16%0%10%0%0%0%0%Nonen
Hong KongHong KongTerritorial180 days*15%15%17%0%0%0%0%0%0%0%0%NoneyCGPT: Hong Kong levies 0.1% transaction fees on the sale or purchase of Hong Kong stock shares. Tax Res: or 300 days in 2 years
HungaryBudapestWorldwide183 days or vital interests*15%15%9%27%39%0%15%15%15%0%0%NonenTax Res: for hungarian citizen, nationality can be a factor.
IcelandReykjavikWorldwide183 days34%46%20%24%20%10%20%20%20%0%0%Noney
IndiaChennaiWorldwide182 days*30%36%34%13%24%0%10%10%10%0%0%Non-ordinarly resident*yNon-ordinarly resident: tax on local and remitted income. Tax Res: physically present in India for a period of 60 days or more during the relevant tax year and 365 days or more in aggregate in four preceding tax years (60 days rule).
IndiaDelhiWorldwide182 days*30%36%34%13%24%0%10%10%10%0%0%Non-ordinarly resident*yNon-ordinarly resident: tax on local and remitted income. Tax Res: physically present in India for a period of 60 days or more during the relevant tax year and 365 days or more in aggregate in four preceding tax years (60 days rule).
IndiaHyderabadWorldwide182 days*30%36%34%13%24%0%10%10%10%0%0%Non-ordinarly resident*yNon-ordinarly resident: tax on local and remitted income. Tax Res: physically present in India for a period of 60 days or more during the relevant tax year and 365 days or more in aggregate in four preceding tax years (60 days rule).
IndiaMumbaiWorldwide182 days*30%36%34%13%24%0%10%10%10%0%0%Non-ordinarly resident*yNon-ordinarly resident: tax on local and remitted income. Tax Res: physically present in India for a period of 60 days or more during the relevant tax year and 365 days or more in aggregate in four preceding tax years (60 days rule).
IndiaBangaloreWorldwide182 days*30%36%34%15%24%0%10%10%10%0%0%Non-ordinarly resident*yNon-ordinarly resident: tax on local and remitted income. Tax Res: physically present in India for a period of 60 days or more during the relevant tax year and 365 days or more in aggregate in four preceding tax years (60 days rule).
IndiaKolkataWorldwide182 days*30%36%34%15%24%0%10%10%10%0%0%Non-ordinarly resident*yNon-ordinarly resident: tax on local and remitted income. Tax Res: physically present in India for a period of 60 days or more during the relevant tax year and 365 days or more in aggregate in four preceding tax years (60 days rule).
IndonesiaJakartaWorldwide183 days27%30%25%10%13%0%0.1% of transaction10%Income0%0%Noney
IranTehranTerritorialN/A33%35%25%9%30%35%0.5% of transaction28%Income0%0%Noney
IraqBaghdadWorldwide6 months or 4 months continious15%15%15%0*30%0%15%15%15%0%0%NonenGeneral Sales tax: there are no general VAT, but restaurants and other specific services and products are taxed.
IrelandDublinWorldwide183 days*36%50%25%*23%20%33%*33%IncomeIncome0*0*Non-domicileyInheritance: €310000 is exempted for direct line. Corporate Tax: can be 12.5% for excepted trades including certain land dealing activities, income from working minerals and petroleum activities. Wealth tax: domiciled individuals with worlwide revenue of €1M+ and owner of €5M + in irish property and with income tax below €200,000 are liable to a minimum annual levy of €200,000. Exit tax: capital gains can be tax, but also be defered. Tax Res: or more in that year, or 280 days or more in that and the preceding year combined, including at least 30 days in each year.
Isle of ManDouglasWorldwide6 months or residential ties10%20%0%*20%24%0%0%0%0%0%0%NoneyCorporate tax: most businesses are not tax unless its from renting property (20%), banking (10%) or retail with sales above 1/2 M pounds (10%).
ItalyMilanWorldwide183 days or residential ties3860%45%27.9%*22%40%4%*26%26%26%0.2%*0%Non-domicile*yIncome tax: is levied at the federal (max 43%), regional (max 1.74%)an municpal level(0.8%). Wealth Tax: immovable properties are taxed at a rate of 0.76% unless main residence (0.4%). inheritance: €1M exemption. Corporate rate: federal (24%) and regional rate (3.9%). Non-dom: Individuals who migrate their tax residency from abroad to Italy are allowed to opt for their non-Italian sourced income to be taxed in Italy through the application of a flat substitutive tax, at a fixed amount of 100,000 euros
ItalyVeniceWorldwide183 days or residential ties3860%45%27.9%*22%40%4%*26%26%26%0.2%*0%Non-domicile*yIncome tax: is levied at the federal (max 43%), regional (max 1.74%)an municpal level(0.8%). Wealth Tax: immovable properties are taxed at a rate of 0.76% unless main residence (0.4%). inheritance: €1M exemption. Corporate rate: federal (24%) and regional rate (4.82%). Non-dom: Individuals who migrate their tax residency from abroad to Italy are allowed to opt for their non-Italian sourced income to be taxed in Italy through the application of a flat substitutive tax, at a fixed amount of 100,000 euros.
ItalyRomeWorldwide183 days or residential ties40%47%29%22%40%4%*26%26%26%0.2%*0%Non-domicile*yIncome tax: is levied at the federal (max 43%), regional (max 1.74%)an municpal level(0.8%). Wealth Tax: immovable properties are taxed at a rate of 0.76% unless main residence (0.4%). inheritance: €1M exemption. Corporate rate: federal (24%) and regional rate (4.82%). Non-dom: Individuals who migrate their tax residency from abroad to Italy are allowed to opt for their non-Italian sourced income to be taxed in Italy through the application of a flat substitutive tax, at a fixed amount of 100,000 euros.
JapanTokyoWorldwideResidencial ties*17%51%37.63%*8%28%35%*20%IncomeIncome0%15.315% of gains*Non-permanent*yTax Res: hold residence or place of abode for more than a year or see Non-permanent. Non-permanent: Foreigners who have been in Japan for 5 years or less in the last 10 years are taxed on their Japanese income and what they remitt. Inheritance tax: top marginal rate hits 55%, but few deductibles allows to reduce significantly the rate. If the deceased or the beneficiary are have not be residing in Japan, tax can be levied only on japanese property. Corporate tax: includes many different tax levied at federal, regional and municipal level. Exit tax: will apply to citizens or foreign residents of more than 5 years in the last 10 years. Tax will be on unrealized capital gains.
JerseySaint HelierWorldwide6 months or residential ties20%20%*0*5%13%0%0%0%0%0%0%NoneyIncome Tax and Lump Sum: Weathy foreigners can decide to subscribe as a High Value Resident and pay a lump sum of 20% on his first £625000 and 1% on the remaining. Corporate tax: 10% for regulated Financial services.
JordanAmmanWorldwide183 days20%20%20%16%22%0%0%0%0%0%0%Nonen
KazakhstanAstanaWorldwide183 days or vital interests10%10%30%12%21%0%10%5%5%0%0%AIFC*y
KazakhstanAlmatyWorldwide183 days or vital interests10%10%30%12%21%0%10%5%5%0%0%NoneySTR: under the Astana International Financial Center companies and individuals can be shielded from tax.
KenyaNairobiWorldwide183 days*30%30%30%16%20$0%0%5%Income0%0%NonenTax Res: or each of the two preceding years of income for periods averaging more than 122 days in each year of income.
KuwaitKuwait CityNoneN/A0%0%0%*0*22%0%0%0%0%0%0%NoneyCorporate Tax: foreign owned companies are taxed at a rate of 15%, and GCC countries on their pourcentage of foreign owned parts. Publicly taded companies are taxed at a rate of 1% of profits. An additionnal 1% is levied for the KFAS.
LaosVientianeWorldwideN/A24%24%24%10%12%0%0%0%10%0%0%Noney
LatviaRigaWorldwide183 days or residential ties23%23%20%*21%34%0.5%*15%0%*20%0%0%NoneyInheritance: only on transfer of property. Corporate tax: no tax on corporate income until distributed. Dividend tax: 20% tax or none if corporate tax on dividend was paid.
LebanonBeirutTerritorial183 days or residential ties20%20%15%10%26%12%0%10%0%0%0%Nonen
LibyaTripoliTerritorialN/A13%13%24%0%15%0%10%10%0%0%0%Nonen
LiechtensteinVaduzWorldwide6 months5%17%13%8%12.67%*0%0%0%0%1%*0%Lump SumySocial Security tax: an additionnal Health care plan needs to be subcribed and the cost split between employee and employer. Wealth tax: assets are valued a fair market price and 4% interest is added to the income declaration.
LuxembourgLuxembourg CityWorldwide6 months17%32%26%17%29%0%1/2 of Income*1/2 of IncomeIncome0*0%NoneyWealth tax: on the welath of "opaque companies". CGLTS: can be none if disposed after 6 months and without 10% ownership in the last 5y of the company.
MacauMacauTerritorialN/A6.2%*6.2%*12%0%9.38$0%3%*12%12%0%0%NoneyIncome tax: highest marginal rate is 12%, but many exemption are applicable reducing significantly the tax rate. Capital Gains: transactions are charged a stamp duty.
MalaysiaKuala LumpurTerritorial182 days22%27%24%6%21%0%0%0%0%0%0%NoneyCorporate tax: the amount above $1.2M is taxed at a rate of 25%.
MaltaVallettaWorldwideResidence ties*23%15%*35%18%20%2%*IncomeIncomeIncome0%0%Flat Rate (15%)*yRes tax: Those applying for HNWI tax scheme need to reside in Malta for a minimum of 90 days each calendar year, and cannot spend more than 182 days a year in any other single jurisdiction. Income tax: High earners can apply to the HNWI tax scheme at a 15% flat rate on foreign income, that requires a minimum of €25,000 per year of contribution. Inheritance tax: stamp duty applies to stransfer of shares (2%) and property (5%). STR: Also non-domicile, taxed on foreign income if remitted to Malta.
MauritiusPort LouisWorldwide183 days*15%15%15%15%14%15%*0%0%0%0%0%NoneyTax Res: Or presence in Mauritius in that income year and the two preceding income years is for an aggregate period of 270 days or more. Inheritance: not levied on the estate, but successor must declare it as income.
MexicoMexico CityWorldwideVital interests30%34%30%16%max $4310/y0%10%0*Income0%0%NoneyDTLTS: the corporate tax payed by the mexican company can e deducted from the income tax, leaving generally very little to be taxed.
MoldovaChisinauWorldwide183 days or residential ties17%18%12%20%38%0%Income6%6%0%0%Noney
MonacoMonacoNone183 days0%0%0 or 33%*20%30%0%0%0%0%0%0%NonenIncome Tax: french citizen are subject to income tax. Corporate tax: taxed if more than 25% of your income is arise from the principality. Exemptions and discounts are made on the first few years.
MongoliaUlaanbaatarWorldwide183 days25%25%25%10%22%0%10%10%10%0%0%Noney
MontenegroBudvaWorldwide183 days or vital interests12%13%9%21%24%0%IncomeIncomeIncome0%0%Noney
MoroccoDakhlaWorldwide183 days or residential ties0*0*0*20%28%4%*0*0*0*0%0%NoneyInheritance: no tax but stamp duty applies to all transactions in Morocco.
MoroccoCasablancaWorldwide183 days or residential ties38%38%31%20%28%4%*15%15%15%0%0%NoneyPersonal Tax: 5 year exemption and 80% reduction for the next 20y as part of Free Zone. Corporate tax: 5 year exemption and 8.75% for remaining 20y. Inheritance: no tax but stamp duty applies to all transactions in Morocco.
NetherlandsAmsterdamWorldwideVital interests43.63%*51.16%*25%21%49%20%*30%*30%*30%*0%0%NoneyIncome tax: A newly arrived immigrant performing a highly skilled job can obtain a 30% deduction of his gross icome, reducing significantly his tax bracket. Inheritance tax: Business passed on can be exempted up to roughly €1M. Additional value is taxed at a reduced rate and can be differed. Dividend tax: assets are assumed to generate annual income varying from 2.87% to 5.39% (amount exceeding $1M). CGLTS: same as dividend tax, but ownership of more than 5% of company shares can receive exemption of capital gains.
New ZealandAucklandWorldwide183 days or residential ties27%32%28%15%2.01%*0%0%IncomeIncome0%0%NoneySocial Security tax: other Social Security tax exist like the employee fringe benefits tax and the Kiwi Saver where the employer might need to match up to 1/3 of the employee contribution to a saving scheme.
NicaraguaManaguaTerritorial180 days or economic interest30%30%30%15%14%0*10%10%0%0%0%Non-residentnNon resident: taxation as a non-resident is at a rate of 15%, contrary to Guatemala and Honduras, you can prove that your economic interest are outside the country if you have a tax certificate of domicile from a non-tax haven country. Inheritance: you will need to pay to register a property.
NigeriaLagosWorldwide183 days24%24%30%5%23%0%0%0%10%0%0%Noney
NorwayOsloWorldwide183 days*32%45%23%25%55%0%30%30%30%1%Capital Gains*NoneyTax res: or 270 days in any 36-month period. Exit Tax: can be differed until actual gains are made, also the individual will be considered resident until the first year they can prove that they have not stayed in Norway for more than a total of 61 days throughout the income year (1 January thru 31 December), and the individual (or any closely related person) has not had a dwelling in Norway at their disposal.
OmanMuscatNoneN/A0%0%15%5%*19%0%0%0%0%0%0%NoneyVAT: Must be introduced by the end of 2018.
PakistanKarachiWorldwide183 days30%30%30%17%12%0%0%13%13%0%0%Noney
PakistanLahoreWorldwide183 days30%30%30%17%12%0%0%13%13%0%0%Noney
PanamaPanama CityTerritorial183 days20%25%25%7%25%0%10%10%0%0%0%Nonen
ParaguayAsuncionTerritorial120 days8%10%10%10%26%0%Income5%0%0%0%Nonen
PeruLimaWorldwide183 days24%30%30%18%9%0%5%8%8%0%0%Nonen
PhilippinesManilaWorldwide180 days32%32%30%12%260$20%3.5% of transaction*0.5% of transaction*Income0%0%NoneyDTLTS: no tax but a stamp duty apply on the transaction. CGLTS: no tax but a stamp duty apply on the transaction.
PolandWarsawWorldwideVital interests or 183 days28%32%19%23%45%0%19%19%19%0%0%Noney
PortugalLisbonWorldwide183 days or residential ties33%*44.8%*21%23%35%0%28%1/2 of Income28%0%0%Non-domicile*yIncome tax: new additional surcharge for 2017. Non-Domicile: foreign income can be tax-free for the first 10y and local income can be taxed at a flat rate of 20%.
QatarDohaTerritorial183 days or vital interests0%0%10%5%*0*0%0%0%0%0%0%NoneySocial Security tax: only required for quatari nationals (15%). Sale tax: to be introduce before the end of 2018
RomaniaBucharestWorldwide183 days or vital interests16%16%16%19%39%0%16%5%5%0%0%Noney
RussiaMoscowWorldwide183 days13%13%20%18%30%0%0%9%9%0%0%Noney
RussiaSaint PetersburgWorldwide183 days13%13%20%18%30%0%0%9%9%0%0%Noney
Saint Kitts and NevisBasseterreNoneN/A0%0%33%17%19%0%0%0%0%0%0%NonenSocial Security tax: can go higher if salaries are higher than $2400USD/month
Saint LuciaCastriesWorldwide183 days or residential ties30%30%30%15%10%0%0%0%0*0%0%NonenDividend tax: taxed only if remitted.
Saudi ArabiaJeddahWorldwideResidential ties and 30 days0%*0%*20%*5%22%*0%20%20%0%0%0%NoneyIncome tax: no tax is levied off employment. But only if business tax are payed by an entity, otherwise employment is taxed. Corporate tax: only on foreign ownership or non GCC shares. Locals pay 2.5% zakat on net worth. Oil & Gas companies are taxed at a higher rate. Social Security Tax: the rate is for locals, foreigner pay 2%.
Saudi ArabiaRiyadhWorldwideResidential ties and 30 days0%*0%*20%*5%22%*0%20%20%0%0%0%NoneyIncome tax: no tax is levied off employment. But only if business tax are payed but an entity. Corporate tax: only on foreign ownership or non GCC shares. Locals pay 2.5%. Oil & Gas companies are taxed at a higher rate. Social Security Tax: the rate is for locals, foreigner pay 2%.
SerbiaBelgradeWorldwideVital interests or 183 days10%15%15%20%3780%0%15%15%15%0%0%Noney
SeychellesVictoriaTerritorial183 days15%15%33%*15%4%0%0%15%0%0%0%NoneyCorporate Tax: incremantal, an additonnal CSR tax applies on turnover at a rate of 0.5%. Rental Income: corporate tax, incremental.
SingaporeSingaporeTerritorial183 days8%20%17%7%37%0%0%0%0%0%0%Noney
SlovakiaBratislavaWorldwide183 days or residential ties25%25%21%20%49%0%0%7%35%0%0%Noney
SloveniaLjubljanaWorldwideVital interests or 183 days23%50%19%22%38%0%25%25%25%0%0%Noney
South AfricaCape TownWorldwide91 days in each of the last 5 years*34%45%28%14%5%20%*16.4%*20%20%0%0%NoneyTax Res: and 915 days aggegate in the last 5 years. Inheritance: taxable after $200,000. CGLS: basicly 40% inclusion of gains into income tax.
South AfricaJohannesburgWorldwide91 days in each of the last 5 years*34%45%28%14%5%20%*16.4%*20%20%0%0%NoneyTax Res: and 915 days aggegate in the last 5 years. Inheritance: taxable after $200,000. CGLS: basicly 40% inclusion of gains into income tax.
South KoreaBusanWorldwide183 days or residential ties18%*38.52%*24%10%18%50%*0*IncomeIncome*0%0%Non-permanent*yNon-permanent: Foreigners who have been in South Korea for 5 years or less in the last 10 years are taxed on their koren income and what they remitt. Income tax: Certain highly skilled foreigners can be taxed at a flat rate of 19%. CGLTS: If the seller ownes more than 2% of the company, he is taxed at 22%. DTFS: Can be waived for Non-permanent taxpayers. Inheritance: 50% kicks-in for amounts above $2.5M. Non permanent resident can be exempted from foreign assets.
South KoreaSeoulWorldwide183 days or residential ties18%*38.52%*24%10%18%50%*0*IncomeIncome*0%0%Non-permanent*yNon-permanent: Foreigners who have been in South Korea for 5 years or less in the last 10 years are taxed on their koren income and what they remitt. Income tax: Certain highly skilled foreigners can be taxed at a flat rate of 19%. CGLTS: If the seller ownes more than 2% of the company, he is taxed at 22%. DTFS: Can be waived for Non-permanent taxpayers. Inheritance: 50% kicks-in for amounts above $2.5M. Non permanent resident can be exempted from foreign assets.
SpainBarcelonaWorldwide183 days or vital interests39%50%25%21%37%34%23%23%23%2.75%*Capital Gains*Inpatriate*yWealth tax: at the highest rate, after €10.7M. There is an exempted amount of €500,000. Inpatriate: employees being transferred to spain are taxed as a non-resident rate of 24%. Exit tax: tax can be deferred.
SpainMadridWorldwide183 days or vital interests39%50%25%21%37%34%23%23%23%2.5%*Capital Gains*Inpatriate*yWealth tax: at the highest rate, after €10.7M. There is an exempted amount of €700,000. Inpatriate: employees being transferred to spain are taxed as a non-resident rate of 24%. Exit tax: tax can be deferred.
Sri LankaColomboWorldwide183 days22%24%28%15%23%0%0%Income0%0%0%Noney
SwedenStockholmWorldwide6 months*39%53%22%25%38%30%30%30%30%0%0%NoneyTax Res: habitual Swedish taxpayers will have to wait 5 years to break tax residence.
SwitzerlandLausanneWorldwideVital interests or 30 days*19%42%28%8%14%4%0%IncomeIncome3%0%Lump SumyTax Res: 30 days (gainfull activities) or 90 days (non gainful activities). Lump Sum: only for foreigners without lucrative activity other than the management of their wealth.
SwitzerlandZurichWorldwideVital interests or 30 days*13%37%27%8%14%0%0%IncomeIncome3%0%AbolishedyTax Res: 30 days (gainfull activities) or 90 days (non gainful activities). Lump Sum: only for foreigners without lucrative activity other than the management of their wealth.
SwitzerlandGenevaWorldwideVital interests or 30 days*15%40%32%8%14%0%0%IncomeIncome5%0%Lump SumyTax Res: 30 days (gainfull activities) or 90 days (non gainful activities).
SyriaDamascusTerritorialResidential ties20%22%31%*0*24%25%*Income0%0%0%0%NoneyCorporate tax: the rate varies depending on type of company, in addition there is 4% to 10% municipal tax and a 5% reconstruction tax. General Sales tax: none be certain services and luxury goods do have VAT. Inheritance tax: home and bank account of the testator are exempt.
SyriaAleppoTerritorialResidential ties20%22%37%*0*24%25%*Income0%0%0%0%NoneyCorporate tax: the rate varies depending on type of company, in addition there is 4% to 10% municipal tax and a 5% reconstruction tax. General Sales tax: none be certain services and luxury goods do have VAT. Inheritance tax: home and bank account of the testator are exempt.
TaiwanKaohsiungTerritorial*183 days or vital interests*22%44%17%5%20%10%*Income*0%20%*0%0%Noney*Tax Res: a Taiwanese nationals can be considered non-resident if he spends less than 31 days and has no vital interests in the country. Source: Taiwan regular income tax is territorial, but it applies an additionnal tax (Basic Income Tax)that covers foreign income after global income of $190,000, at a flat rate of 20%. China Tax Treaty: signed in 2015 but not yet effective. Inheritance: $380,000 (12m TWD) are exempted. CGPLTS: there is an additionnal share transfer tax of 0.3%. DTFS: Falls under Basis Income Tax is total income exceed $190,000 and foreign income exceeds $35,000.
TaiwanTaichungTerritorial*183 days or vital interests*22%44%17%5%20%10%*Income*0%20%*0%0%Noney*Tax Res: a Taiwanese nationals can be considered non-resident if he spends less than 31 days and has no vital interests in the country. Source: Taiwan regular income tax is territorial, but it applies an additionnal tax (Basic Income Tax)that covers foreign income after global income of $190,000, at a flat rate of 20%. China Tax Treaty: signed in 2015 but not yet effective. Inheritance: $380,000 (12m TWD) are exempted. CGPLTS: there is an additionnal share transfer tax of 0.3%. DTFS: Falls under Basis Income Tax is total income exceed $190,000 and foreign income exceeds $35,000.
TaiwanTaipeiTerritorial*183 days or vital interests*22%44%17%5%20%10%*Income*0%20%*0%0%Noney*Tax Res: a Taiwanese nationals can be considered non-resident if he spends less than 31 days and has no vital interests in the country. Source: Taiwan regular income tax is territorial, but it applies an additionnal tax (Basic Income Tax)that covers foreign income after global income of $190,000, at a flat rate of 20%. China Tax Treaty: signed in 2015 but not yet effective. Inheritance: $380,000 (12m TWD) are exempted. CGPLTS: there is an additionnal share transfer tax of 0.3%. DTFS: Falls under Basis Income Tax is total income exceed $190,000 and foreign income exceeds $35,000.
TanzaniaDar es SalaamWorldwide183 days or residential ties*30%30%30%18%21%0%0%5%10%0%0%Short term resident*nTax Res: Residential ties are triggered by 1 visit. Short term resident: does who have been resident for less than 2 years are taxed at 15% of local income and not on worldwide income.
ThailandBangkokWorldwide180 days20%35%20%7%10%5%*0%10%0*0%0%Foreign income*yInheritance: 100M Bath ($2.8M) is exempted. DTFS: taxed only if remitted to Thailand. STR: Foreign Income are taxed if remitted in the current tax year.
ThailandPhuketWorldwide180 days20%35%20%7%10%5%*0%10%0*0%0%Foreign income*yInheritance: 100M Bath ($2.8M) is exempted. DTFS: taxed only if remitted to Thailand. STR: Foreign Income are taxed if remitted in the current tax year.
TunisiaTunisWorldwide183 days or residential ties33%35%25%18%26%3%10%5%Income0%0%Noney
TurkeyIstanbulWorldwide6 months32%35%22%18%35%15%0%1/2 of Income1/2 of Income0%0%Noney
Turks and Caicos IslandsCockburn TownNoneN/A0%0%0*0%*6%0%0%0%0%0%0%NonenGeneral Sales tax are lievied on hotel, restaurants, bars, vehicules and financial transactions fees at a rate of 12%. Corporate Tax: a Business Licence is required, fees are annual and run in the thousands.
Turks and Caicos IslandsProvidencialesNoneN/A0%0%0*0%*6%0%0%0%0%0%0%NonenGeneral Sales tax are lievied on hotel, restaurants, bars, vehicules and financial transactions fees at a rate of 12%. Corporate Tax: a Business Licence is required, fees are annual and run in the thousands.
UAEAbu DhabiNoneN/A0%0%0%5%0%0%0%0%0%0%0%NoneyInheritance: property transfer tax of 4% will be levied on the property. General Sales Tax: will be levied at a rate of 5% beginning 2018.
UAEDubaiNoneN/A0%0%0%5%0%0%0%0%0%0%0%NoneyInheritance: property transfer tax of 4% will be levied on the property. General Sales Tax: will be levied at a rate of 5% beginning 2018.
UKLondonWorldwide183 days*32%46%19%20%25.8%*40%20%38.1%*38.1%*0%0%Non-domicileyTax Res: tax resident if the individual’s only home is in the United Kingdom for at least 91 days in the year. Dividend Tax: varies between 7.5%, 32.5% and 38.1%. Social Security Tax:the National Insurance is payed by both employee and employer at different rates. Rates above £3,583 a month are taxed at 2% for the employee. Inheritance: free of tax under £325,000 or to spouse. STR: Non-domicile are taxed on their worldwide income on remittance basis, end once an individual has been UK resident for 15 out of the previous 20 tax years.
UkraineKievWorldwideVital interests or 183 days19.5%*19.5%*18%20%22%0*6.5%*6.5%*19.5%*0%0%NoneyIncome tax & Dividend Tax: includes an temporary 1.5% military tax. Inheritance: Stamp duty needs to be payed on property transfer, 1%.
UruguayMontevideoWorldwideVital interests or 183 days36%38%25%22%31%0%12%7%12%2%0%Nonen
US Virgin IslandsCharlotte AmalieCitizenshsipNationals and lawfull permanent residents*10%30%24.5%*2%1530%0%24%20%Income0%Capital Gain*NoneyTax Res: EB-5 investors can be considered under the "substantial presence test" of 31 days in the calendar year or 183 days during the 3-year period that includes the current year and the two prior years. Corporate tax: an additionnal gross receipt tax can be levied for businesses with more than $150 000 in receipt a year at a rate of 4%. Certain businesses like bank are exempted. General Sales tax: varies from 2% to 25%. Banking secrecy: in a few states like Delaware, Wyoming, Nevada and South Dakota.
USAMiamiCitizenshsipNationals and lawfull permanent residents*10%30%27%7%1530%39%24%20%Income0%Capital Gain*NoneyTax Res: EB-5 investors can be considered under the "substantial presence test" of 31 days in the calendar year or 183 days during the 3-year period that includes the current year and the two prior years. Inheritance Tax: The federal exemption amount is $11.2M. Each state have a exemption amount as well. Dividend Tax Local: incremental, 20% is at the highest marginal rate. Exit Tax: applies to expatriate and termination of residence for Net worth above $2M and annual income abobe $162,000. $669,000 can be excluded. Income tax: up to $102,100 of foreign income can be excluded. Banking secrecy: in a few states like Delaware, Wyoming, Nevada and South Dakota.
USABostonCitizenshsipNationals and lawfull permanent residents*15%35%29%6%1530%39%29%25%Income0%Capital Gain*NoneyTax Res: EB-5 investors can be considered under the "substantial presence test" of 31 days in the calendar year or 183 days during the 3-year period that includes the current year and the two prior years. Inheritance Tax: The federal exemption amount is $11.2M. Each state have a exemption amount as well. Dividend Tax Local: incremental, 20% is at the highest marginal rate. Exit Tax: applies to expatriate and termination of residence for Net worth above $2M and annual income abobe $162,000. $669,000 can be excluded. Income tax: up to $102,100 of foreign income can be excluded. Banking secrecy: in a few states like Delaware, Wyoming, Nevada and South Dakota.
USASan FranciscoCitizenshsipNationals and lawfull permanent residents*10%40%30%9%1530%39%33%30%Income0%Capital Gain*NoneyTax Res: EB-5 investors can be considered under the "substantial presence test" of 31 days in the calendar year or 183 days during the 3-year period that includes the current year and the two prior years. Inheritance Tax: The federal exemption amount is $11.2M. Each state have a exemption amount as well. Dividend Tax Local: incremental, 20% is at the highest marginal rate. Exit Tax: applies to expatriate and termination of residence for Net worth above $2M and annual income abobe $162,000. $669,000 can be excluded. Income tax: up to $102,100 of foreign income can be excluded. Banking secrecy: in a few states like Delaware, Wyoming, Nevada and South Dakota.
USALos AngelesCitizenshsipNationals and lawfull permanent residents*15%40%30%9%1530%39%33%30%Income0%Capital Gain*NoneyTax Res: EB-5 investors can be considered under the "substantial presence test" of 31 days in the calendar year or 183 days during the 3-year period that includes the current year and the two prior years. Inheritance Tax: The federal exemption amount is $11.2M. Each state have a exemption amount as well. Dividend Tax Local: incremental, 20% is at the highest marginal rate. Exit Tax: applies to expatriate and termination of residence for Net worth above $2M and annual income abobe $162,000. $669,000 can be excluded. Income tax: up to $102,100 of foreign income can be excluded. Banking secrecy: in a few states like Delaware, Wyoming, Nevada and South Dakota.
USANew YorkCitizenshsipNationals and lawfull permanent residents*15%40%37%9%1530%39%34%30%Income0%Capital Gain*NoneyTax Res: EB-5 investors can be considered under the "substantial presence test" of 31 days in the calendar year or 183 days during the 3-year period that includes the current year and the two prior years. Inheritance Tax: The federal exemption amount is $11.2M. Each state have a exemption amount as well. Dividend Tax Local: incremental, 20% is at the highest marginal rate. Exit Tax: applies to expatriate and termination of residence for Net worth above $2M and annual income abobe $162,000. $669,000 can be excluded. Income tax: up to $102,100 of foreign income can be excluded. Banking secrecy: in a few states like Delaware, Wyoming, Nevada and South Dakota.
UzbekistanTashkentWorldwide183 days23%23%8%20%33%0%Income10%*0%0%0%NoneyDTLTS: can be exempted if reinvested in the same company.
VanuatuPort VilaNoneN/A0%0%5% of gross income*13%8%0%0%0%0%0%0%NonenCorporate tax: rate is for financial services companies and companies with turnover above 10M Vatu.
VenezuelaCaracasWorldwide184 days30%34%34%*12%23%0%1% of transaction34%34%0%0%NoneyCorporate tax: additional municipal tax is levied on turnover.
VenezuelaMaracaiboWorldwide184 days30%34%34%*12%23%0%1% of transaction34%34%0%0%NoneyCorporate tax: additional municipal tax is levied on turnover.
VietnamHanoiWorldwide183 days35%35%20%5%32%0%IncomeIncomeIncome0%0%Noney
VietnamHo Chi Minh CityWorldwide183 days35%35%20%5%32%0%IncomeIncomeIncome0%0%Noney

METHODOLOGY

All the data were collected in January 2021. The information represents the rates for the taxation year 2021. All rates apply to a tax resident.

Source is based on the 3 common types of taxation system. Territorial base means tax is levied strictly on local income. Residential base means it is levied on the worldwide income of its residents. Citizenship base means tax is levied on the worldwide income of citizens. Usually, the taxation system will define income as local or foreign.

Tax residence indicates the conditions upon which an individual can be considered a tax resident.

Income tax on 100K refers to the personal income tax rate imposed on a jointly filed annual salary of 100,000 USD. It assumes that no deductions were used to reduce the tax rate. For countries that levy incremental tax, the exemption and social security deductions were calculated. Certain jurisdictions levy tax at different levels: federal, regional, and municipal.

Income tax $1M follows the same methodology used for $100,000, but the tax rate applies to a jointly filed annual salary of 1,000,000 USD.

Corporate tax applies to large businesses. It’s a tax on profit unless otherwise stipulated (see notes). Corporate rates vary depending on the industry. We selected the highest tax rate in the case of the incremental tax rate. Certain jurisdictions levy corporate taxes at multiple levels:  federal, regional, and municipal.

General Sales Tax, also known as Consumption Tax or Value-Added Tax (VAT), is levied on the sale of general goods and services. Certain products like alcohol and cigarettes generally have higher sales tax rates and food has lower rates. Certain jurisdictions can levy tax at the federal, regional, and municipal levels.

Social Security Total reflects the total charges paid by employer and employee on wages for social security. The rates are often capped and can vary based on profession, age, and income. The rate can comprise various benefits like pension, health care, unemployment, etc.

Inheritance tax (children) is the tax levied on the estate through the inheritance by the children (linear) of the deceased. The rate reflects the rate on the inheritance of a real estate property and is estimated at the maximum rate. Some jurisdictions might not levy an inheritance tax, but instead charge a stamp duty on the transfer of assets.

Capital gain on local publicly traded shares refers to the tax on capital gains made on the sale of publicly traded shares on the local stock market by an individual after more than 3 years of having held the shares. The rate varies depending on the percentage of ownership in the company. Our listed rate is for a small share of ownership.

Dividend tax on local publicly traded shares refers to the tax rate on dividends collected by individuals from publicly traded companies on the local stock exchange. Our listed rate is for a small share of ownership.

Dividend tax on foreign shares refers to the tax applicable to dividends paid by a foreign company to an individual. The dividends are considered as foreign income.

Wealth tax is levied annually on an individual’s net wealth. The net worth of the assets is estimated at the maximum rate of taxation applicable.

Exit tax, also known as expatriation tax, is applied normally when an individual breaks his tax residence in a country. In many cases, unrealized capital gains are taxed when one exits the jurisdiction, but in many cases, they can be deferred until the assets are sold.

Special tax regime. In certain countries, wealthy individuals are shielded from excessive taxation. Whether it is by forfeiting a lump sum or non-domiciled taxation, these schemes can be favorable to the taxpayer.

China tax treaty establishes whether the country has signed a tax treaty with China. This allows you to avoid double taxation on foreign income if you are a Chinese national.

Source:

The vast majority of the tax rates were taken from official governmental sources, usually the tax department or the finance ministry website. Many tax rates are combinations of more than one source as rates can be levied at the federal, regional, and municipal levels. Some government websites were very poorly referenced and the information was not accessible online. In those cases, we used the very comprehensive Tax Summaries by PWC.

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