RCG Taxation Index 2021

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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

COUNTRY CITY Source Tax Residence Income tax on 100K Income tax $1M Corporate tax General Sales Tax Social Security total Inheritance tax-(Children) Capital gain on local publicly traded shares Dividend tax on local publicly traded shares Dividend tax on foreign shares Wealth Tax Exit Tax Special Tax regime China tax treaty note TAX
Albania Sarande Worldwide 183 days or residential ties 23% 23% 15% 20% 28% 0% 15% 23% 23% 0% 0% None y
Algeria Algiers Worldwide 183 days* 35% 35% 26% 19% 35% 5% 15% 10% 15% 2% 0% None y TTRP: 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.
Andorra Andorra la Vella Worldwide 183 days 10% 10% 5% 5% 0% 0% 10% 10% 0% 0% 0% None n TTRP: 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
Angola Luanda Territorial 183 days 17% 17% 30% 10% 11% 15% 0% 0% 0% 0% 0% None n RITRP: Property tax are none if rented, as it is payed by rental income.
Anguilla The Valley Territorial N/A 0% 0% 0% 0% 16% 0% 0% 0% 0% 0% 0% None n
Antigua and Barbuda Saint John's Worldwide 183 days 0% 0% 25% 15% 22%* 0% 0%* 0% 0% 0% 0% None n Social 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.
Argentina Buenos Aires Worldwide 183 days* 35% 35% 30%* 21% 43% 5% 0% 10% 35% 1% 0% None y Tax 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.
Australia Brisbane Worldwide 183 days 30% 49% 30% 10% 5% 0* Income 50% of Income Income 0% 0% None y ITR: 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
Australia Melbourne Worldwide 183 days 30% 49% 30% 10% 5% 0* Income 50% of Income Income 0% 0% None y ITR: 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
Australia Sydney Worldwide 183 days 30% 49% 30% 10% 5% 0* Income 50% of Income Income 0% 0% None y ITR: 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
Austria Vienna Worldwide 183 days 48% 55% 25% 20% 47.5%* 0% 28% 28% Income 0% 0% None y Rental Income: 3% of rental contract is also levied for residential properties and 5% for commercial. Social Security tax: includes all additional charges levied.
Azerbaijan Baku Worldwide 183 days 25% 25% 20% 18% 25% 0% 25% 25% 25% 0% 0% Investor Certificate* y Investor Certificate: provide a 50% discount on income tax.
Bahamas Nassau None N/A 0% 0% 0* 8% 10% 0% 0% 0% 0% 0% 0% None y Property 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.
Bahrain Manama None N/A 0% 0% 0% 5% 17% 0% 0% 0% 0% 0% 0% None y
Bangladesh Chittagong Worldwide 183 days 43%* 43%* 35% 15% 0% 0% 15%* Income Income 0% 0% None y CGLS: 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%.
Bangladesh Dhaka Worldwide 183 days 43%* 43%* 35% 15% 0% 0% 15%* Income Income 0% 0% None y CGLS: 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%.
Barbados Bridgetown Worldwide 183 days 26% 33% 25%* 18% 21% 0% 0% Income Income 0% 0% Non-domicle* y Corporate 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.
Belarus Minsk Worldwide 183 days 12% 12% 26% 20% 35% 0% 0% 0% 0% 0% 0% None y
Belgium Brussels Worldwide Registered in national registery 56% 56% 30% 21% 54% 30% 33% 27% 27% 0% 0% None y Rental 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.
Bermuda Hamilton None N/A 0% 0% 0% 0% 19% 20%* 0% 0% 0% 0% 0% None y Social 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.
Bolivia La Paz Territorial Tax on local income only 13% 13% 25% 15% 29% 0% 0% 0% 0% 0% 0% None n
Brazil Belo Horizonte Worldwide 183 days* 27% 28% 34%* 20% 34% 5% 15% 0% Income 0% 0% None y Corporate tax: base rate of 15%+10% surcharge+ 9% social contribution. Tax Res: Brazilian nationals need to
Brazil Brasilia Worldwide 183 days* 27% 28% 34%* 20% 34% 6% 15% 0% Income 0% 0% None y Corporate tax: base rate of 15%+10% surcharge+ 9% social contribution.
Brazil Rio de Janeiro Worldwide 183 days* 27% 28% 34%* 20% 34% 4% 15% 0% Income 0% 0% None y Corporate tax: base rate of 15%+10% surcharge+ 9% social contribution.
Brazil Sao Paulo Worldwide 183 days* 27% 28% 34%* 20% 34% 4% 15% 0% Income 0% 0% None y Corporate tax: base rate of 15%+10% surcharge+ 9% social contribution.
British Virgin Islands Road town None N/A 0% 0% 0% 0% 14% 0% 0% 0% 0% 0% 0% None y
Bulgaria Sofia Worldwide 183 days or residential ties 10% 10% 10% 20% 32% 0% 0% 10% 0% 0% 0% None y
Cambodia Phnom Penh Worldwide 183 days or residential ties 20% 20% 20% 10% 3% 0% 0% 0% 0% 0% 0% None y
Canada Vancouver Worldwide 183 days or residential ties 20% 46% 27% 12% 7.14%* 0* 1/2 of Income 10% Income 0% Capital Gains* None y Social 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.
Canada Toronto Worldwide 183 days or residential ties 22% 50% 27% 13% 7.14%* 0* 1/2 of Income 11% Income 0% Capital Gains* None y Social 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%
Canada Montreal Worldwide 183 days or residential ties 27% 50% 27% 15% 11%* 0* 1/2 of Income 14% Income 0% Capital Gains* None y Social 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 Verde Praia Worldwide 183 days or residential ties 28% 28% 26% 15% 23% 0% 1% 10% 10% 0% 0% None n
Cayman Islands George Town None N/A 0% 0% 0% 0% 0% 0% 0% 0% 0% 0% 0% None y
Chile Santiago Worldwide 6 months* 35% 35% 26% 19% 23% 0% 35% 35% 8%* 0% 0% Non-domicile* y Non-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
China Foshan Worldwide Residential ties 44% 45% 25%* 17% 34% 0% 0% 10%* 20% 0% 0% Non-domicile* y Non-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.
China Guangzhou Worldwide Residential ties 44% 45% 25%* 17% 34% 0% 0% 10%* 20% 0% 0% Non-domicile* y Non-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
China Shenzhen Worldwide Residential ties 44% 45% 25%* 17% 34% 0% 0% 10%* 20% 0% 0% Non-domicile* y Non-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
China Changsha Worldwide Residential ties 44% 45% 25%* 17% 40%* 0% 0% 10%* 20% 0% 0% Non-domicile* y Non-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
China Chengdu Worldwide Residential ties 44% 45% 25%* 17% 40%* 0% 0% 10%* 20% 0% 0% Non-domicile* y Non-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.
China Chongqing Worldwide Residential ties 44% 45% 25%* 17% 40%* 0% 0% 10%* 20% 0% 0% Non-domicile* y Non-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.
China Hangzhou Worldwide Residential ties 44% 45% 25%* 17% 40%* 0% 0% 10%* 20% 0% 0% Non-domicile* y Non-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
China Nanjing Worldwide Residential ties 44% 45% 25%* 17% 40%* 0% 0% 10%* 20% 0% 0% Non-domicile* y Non-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
China Ningbo Worldwide Residential ties 44% 45% 25%* 17% 40%* 0% 0% 10%* 20% 0% 0% Non-domicile* y Non-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
China Qingdao Worldwide Residential ties 44% 45% 25%* 17% 40%* 0% 0% 10%* 20% 0% 0% Non-domicile* y Non-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
China Shenyang Worldwide Residential ties 44% 45% 25%* 17% 40%* 0% 0% 10%* 20% 0% 0% Non-domicile* y Non-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.
China Suzhou Worldwide Residential ties 44% 45% 25%* 17% 40%* 0% 0% 10%* 20% 0% 0% Non-domicile* y Non-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
China Tianjin Worldwide Residential ties 44% 45% 25%* 17% 40%* 0% 0% 10%* 20% 0% 0% Non-domicile* y Non-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.
China Wuhan Worldwide Residential ties 44% 45% 25%* 17% 40%* 0% 0% 10%* 20% 0% 0% Non-domicile* y Non-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
China Wuxi Worldwide Residential ties 44% 45% 25%* 17% 40%* 0% 0% 10%* 20% 0% 0% Non-domicile* y Non-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
China Beijing Worldwide Residential ties 44% 45% 25%* 17% 44% 0% 0% 10%* 20% 0% 0% Non-domicile* y Non-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
China Shanghai Worldwide Residential ties 44% 45% 25%* 17% 44% 0% 0% 10%* 20% 0% 0% Non-domicile* y Non-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
Colombia Bogota Worldwide 183 days* 31% 33% 33%* 16% 25% Capital Gains 0% 0% Income 2% 0% None n Corporate 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.
Colombia Cali Worldwide 183 days* 31% 33% 33%* 16% 25% Capital Gains 0% 0% Income 2% 0% None n Corporate 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.
Colombia Medellin Worldwide 183 days* 31% 33% 33%* 16% 25% Capital Gains 0% 0% Income 2% 0% None n Corporate 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.
Comoros Moroni Worldwide 183 days 30% 30% 35% 0% 0% 15% 15% 15% 15% 0% 0% None n
Costa Rica San Jose Territorial 6 months* 23% 25% 30% 13% 36% 0% 0% 25% 0% 0% 0% None n Tax Res: those under payroll in Costa Rica are tax residents.
Croatia Split Worldwide 183 days* 44%* 44%* 18% 25% 37% 0% 0% 12% 12% 0% 0% None y Income 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.
Cyprus Limassol Worldwide 60 days or 183 days* 30% 35% 13% 19% 19% 0% 0% 17% 17% 0% 0% Non-domicile* y Non-dom: no tax on capital income from Cyprus or abroad. Tax res: for 60 days - cannot stay 183 days in an other country.
Cyprus Nicosia Worldwide 60 days or 183 days* 30% 35% 13% 19% 19% 0% 0% 17% 17% 0% 0% Non-domicile* y Non-dom: no tax on capital income from Cyprus or abroad. Tax res: for 60 days - cannot stay 183 days in an other country.
Czech Republic Prague Worldwide 183 days or residential ties 15% 15% 19% 21% 35% 0% 0% 15% 15% 0% 0% None y
Denmark Copenhagen Worldwide 6 months consecutive or residential ties 31% 45% 22% 25% 24.1%* 15% Income 10% Income 0% Capital Gains None y Social Security Tax: 10% from employee, employers varies based on activy.
Dominica Roseau Worldwide 183 days* 29% 35% 25% 15% 12% 0% 0% Income* Income* 0% 0% None n Dividend 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 Republic Santo Domingo Worldwide 183 days 24% 25% 27% 18% 1690% 3%* 27% 0% 0% 1% 0% None n Inheritance: family property can be exempted.
Ecuador Quito Worldwide 183 days 17% 35% 22% 12% 2055% 35% 0% Income Income 0% 0% None y
Egypt Cairo Worldwide 183 days or residential ties 22% 23% 23% 14% 35% 0% 0% 10%* 10% 0% 0% None y DTLS: can be reduced to 5% if individual owns over 25% of shares of company and hold over 2 years.
El Salvador San Salvador Worldwide 200 days or main source of income 27% 30% 30% 13% 24% 0% 0% 0% 0% 0% 0% None n
Estonia Tallinn Worldwide 183 days or residential ties 18% 20% 20% 20% 39% 0% 20%* 20%* 0* 0% 0% None y Investment 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.
Ethiopia Addis Ababa Worldwide 183 days 35% 35% 30% 15% 18% 0% 15% Income Income 0% 0% None y
Fiji Suva Worldwide 183 days 20% 29% 20% 9% 18% 0% 10% 15% Income 0% 0% None n
Finland Helsinki Worldwide 6 months continious* 33% 46% 20% 24% 15% 19% 34% 29% 26% 0% 0* None y Exit tax/Tax Res: can be considered tax resident for another 3 years after departure unless they prove they have had no essential connections.
France Nice Worldwide Residential & economic ties 15% 40% 33% 20% 65% 45%* 1/2 Income 23% 23% 1%* Capital Gains* None y Exit 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.
France Paris Worldwide Residential & economic ties 15% 40% 33% 20% 65% 45%* 1/2 Income 23% 23% 1%* Capital Gains* None y Exit 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.
Georgia Tbilisi Territorial 183 days 20% 20% 15% 18% 0% 0% 20% 5%* 0% 0% 0% None y DTLTS: can be exempted if from Free industrial zone, financial institution and from free floating securities.
Germany Berlin Worldwide 6 months or residential ties 29% 43% 29.31%* 19% 39% 30%* 25% 25% Income 0% Capital Gains* None y Inheritance 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.
Germany Frankfurt Worldwide 6 months or residential ties 29% 43% 31.06%* 19% 39% 30%* 25% 25% Income 0% Capital Gains* None y Inheritance 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.
Germany Munich Worldwide 6 months or residential ties 29% 43% 32.1%* 19% 39% 30%* 25% 25% Income 0% Capital Gains* None y Inheritance 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.
Gibraltar Gibraltar Territorial* 183 days 14% 20% 10% 0% 30% 0% 0% 0% 0% 0% 0% Lump Sum* n Source: Taxed on foreign income remitted to Gibraltar. STR: Maximum tax contribution capped at £22,000 under Category 2 individuals.
Greece Athens Worldwide Vital interests 44% 44% 24% 24% 41% 10%* 15% 15% 5% 0% 0% Lump Sum* y Lump 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
Greece Corfu Worldwide Vital interests 44% 44% 24% 24% 41% 10%* 15% 15% 5% 0% 0% Lump Sum* y
Grenada Saint George's Worldwide 183 days 26% 30% 30% 15% 9% 0% 0.75%* 0.75%* 0.75%* 0% 0% None n Capital 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.
Guatemala Guatemala City Territorial 183 days 7% 7% 25% 12% 18% 0% 10% 5% 0% 0% 0% None n
Honduras Tegucigalpa Territorial 90 days 25% 25% 25%* 15% 8% 0% 10% 0% 0% 0% 0% None y Corporate tax: rate of 25% + 5% solidarity and 0.015% of gross income to the municipality.
Honduras San Pedro Sula Territorial 90 days 25% 25% 25%* 15% 16% 0% 10% 0% 0% 0% 0% None n
Hong Kong Hong Kong Territorial 180 days* 15% 15% 17% 0% 0% 0% 0% 0% 0% 0% 0% None y CGPT: 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
Hungary Budapest Worldwide 183 days or vital interests* 15% 15% 9% 27% 39% 0% 15% 15% 15% 0% 0% None n Tax Res: for hungarian citizen, nationality can be a factor.
Iceland Reykjavik Worldwide 183 days 34% 46% 20% 24% 20% 10% 20% 20% 20% 0% 0% None y
India Chennai Worldwide 182 days* 30% 36% 34% 13% 24% 0% 10% 10% 10% 0% 0% Non-ordinarly resident* y Non-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).
India Delhi Worldwide 182 days* 30% 36% 34% 13% 24% 0% 10% 10% 10% 0% 0% Non-ordinarly resident* y Non-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).
India Hyderabad Worldwide 182 days* 30% 36% 34% 13% 24% 0% 10% 10% 10% 0% 0% Non-ordinarly resident* y Non-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).
India Mumbai Worldwide 182 days* 30% 36% 34% 13% 24% 0% 10% 10% 10% 0% 0% Non-ordinarly resident* y Non-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).
India Bangalore Worldwide 182 days* 30% 36% 34% 15% 24% 0% 10% 10% 10% 0% 0% Non-ordinarly resident* y Non-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).
India Kolkata Worldwide 182 days* 30% 36% 34% 15% 24% 0% 10% 10% 10% 0% 0% Non-ordinarly resident* y Non-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).
Indonesia Jakarta Worldwide 183 days 27% 30% 25% 10% 13% 0% 0.1% of transaction 10% Income 0% 0% None y
Iran Tehran Territorial N/A 33% 35% 25% 9% 30% 35% 0.5% of transaction 28% Income 0% 0% None y
Iraq Baghdad Worldwide 6 months or 4 months continious 15% 15% 15% 0* 30% 0% 15% 15% 15% 0% 0% None n General Sales tax: there are no general VAT, but restaurants and other specific services and products are taxed.
Ireland Dublin Worldwide 183 days* 36% 50% 25%* 23% 20% 33%* 33% Income Income 0* 0* Non-domicile y Inheritance: €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 Man Douglas Worldwide 6 months or residential ties 10% 20% 0%* 20% 24% 0% 0% 0% 0% 0% 0% None y Corporate tax: most businesses are not tax unless its from renting property (20%), banking (10%) or retail with sales above 1/2 M pounds (10%).
Italy Milan Worldwide 183 days or residential ties 3860% 45% 27.9%* 22% 40% 4%* 26% 26% 26% 0.2%* 0% Non-domicile* y Income 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
Italy Venice Worldwide 183 days or residential ties 3860% 45% 27.9%* 22% 40% 4%* 26% 26% 26% 0.2%* 0% Non-domicile* y Income 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.
Italy Rome Worldwide 183 days or residential ties 40% 47% 29% 22% 40% 4%* 26% 26% 26% 0.2%* 0% Non-domicile* y Income 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.
Japan Tokyo Worldwide Residencial ties* 17% 51% 37.63%* 8% 28% 35%* 20% Income Income 0% 15.315% of gains* Non-permanent* y Tax 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.
Jersey Saint Helier Worldwide 6 months or residential ties 20% 20%* 0* 5% 13% 0% 0% 0% 0% 0% 0% None y Income 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.
Jordan Amman Worldwide 183 days 20% 20% 20% 16% 22% 0% 0% 0% 0% 0% 0% None n
Kazakhstan Astana Worldwide 183 days or vital interests 10% 10% 30% 12% 21% 0% 10% 5% 5% 0% 0% AIFC* y
Kazakhstan Almaty Worldwide 183 days or vital interests 10% 10% 30% 12% 21% 0% 10% 5% 5% 0% 0% None y STR: under the Astana International Financial Center companies and individuals can be shielded from tax.
Kenya Nairobi Worldwide 183 days* 30% 30% 30% 16% 20$ 0% 0% 5% Income 0% 0% None n Tax Res: or each of the two preceding years of income for periods averaging more than 122 days in each year of income.
Kuwait Kuwait City None N/A 0% 0% 0%* 0* 22% 0% 0% 0% 0% 0% 0% None y Corporate 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.
Laos Vientiane Worldwide N/A 24% 24% 24% 10% 12% 0% 0% 0% 10% 0% 0% None y
Latvia Riga Worldwide 183 days or residential ties 23% 23% 20%* 21% 34% 0.5%* 15% 0%* 20% 0% 0% None y Inheritance: 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.
Lebanon Beirut Territorial 183 days or residential ties 20% 20% 15% 10% 26% 12% 0% 10% 0% 0% 0% None n
Libya Tripoli Territorial N/A 13% 13% 24% 0% 15% 0% 10% 10% 0% 0% 0% None n
Liechtenstein Vaduz Worldwide 6 months 5% 17% 13% 8% 12.67%* 0% 0% 0% 0% 1%* 0% Lump Sum y Social 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.
Luxembourg Luxembourg City Worldwide 6 months 17% 32% 26% 17% 29% 0% 1/2 of Income* 1/2 of Income Income 0* 0% None y Wealth 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.
Macau Macau Territorial N/A 6.2%* 6.2%* 12% 0% 9.38$ 0% 3%* 12% 12% 0% 0% None y Income tax: highest marginal rate is 12%, but many exemption are applicable reducing significantly the tax rate. Capital Gains: transactions are charged a stamp duty.
Malaysia Kuala Lumpur Territorial 182 days 22% 27% 24% 6% 21% 0% 0% 0% 0% 0% 0% None y Corporate tax: the amount above $1.2M is taxed at a rate of 25%.
Malta Valletta Worldwide Residence ties* 23% 15%* 35% 18% 20% 2%* Income Income Income 0% 0% Flat Rate (15%)* y Res 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.
Mauritius Port Louis Worldwide 183 days* 15% 15% 15% 15% 14% 15%* 0% 0% 0% 0% 0% None y Tax 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.
Mexico Mexico City Worldwide Vital interests 30% 34% 30% 16% max $4310/y 0% 10% 0* Income 0% 0% None y DTLTS: the corporate tax payed by the mexican company can e deducted from the income tax, leaving generally very little to be taxed.
Moldova Chisinau Worldwide 183 days or residential ties 17% 18% 12% 20% 38% 0% Income 6% 6% 0% 0% None y
Monaco Monaco None 183 days 0% 0% 0 or 33%* 20% 30% 0% 0% 0% 0% 0% 0% None n Income 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.
Mongolia Ulaanbaatar Worldwide 183 days 25% 25% 25% 10% 22% 0% 10% 10% 10% 0% 0% None y
Montenegro Budva Worldwide 183 days or vital interests 12% 13% 9% 21% 24% 0% Income Income Income 0% 0% None y
Morocco Dakhla Worldwide 183 days or residential ties 0* 0* 0* 20% 28% 4%* 0* 0* 0* 0% 0% None y Inheritance: no tax but stamp duty applies to all transactions in Morocco.
Morocco Casablanca Worldwide 183 days or residential ties 38% 38% 31% 20% 28% 4%* 15% 15% 15% 0% 0% None y Personal 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.
Netherlands Amsterdam Worldwide Vital interests 43.63%* 51.16%* 25% 21% 49% 20%* 30%* 30%* 30%* 0% 0% None y Income 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 Zealand Auckland Worldwide 183 days or residential ties 27% 32% 28% 15% 2.01%* 0% 0% Income Income 0% 0% None y Social 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.
Nicaragua Managua Territorial 180 days or economic interest 30% 30% 30% 15% 14% 0* 10% 10% 0% 0% 0% Non-resident n Non 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.
Nigeria Lagos Worldwide 183 days 24% 24% 30% 5% 23% 0% 0% 0% 10% 0% 0% None y
Norway Oslo Worldwide 183 days* 32% 45% 23% 25% 55% 0% 30% 30% 30% 1% Capital Gains* None y Tax 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.
Oman Muscat None N/A 0% 0% 15% 5%* 19% 0% 0% 0% 0% 0% 0% None y VAT: Must be introduced by the end of 2018.
Pakistan Karachi Worldwide 183 days 30% 30% 30% 17% 12% 0% 0% 13% 13% 0% 0% None y
Pakistan Lahore Worldwide 183 days 30% 30% 30% 17% 12% 0% 0% 13% 13% 0% 0% None y
Panama Panama City Territorial 183 days 20% 25% 25% 7% 25% 0% 10% 10% 0% 0% 0% None n
Paraguay Asuncion Territorial 120 days 8% 10% 10% 10% 26% 0% Income 5% 0% 0% 0% None n
Peru Lima Worldwide 183 days 24% 30% 30% 18% 9% 0% 5% 8% 8% 0% 0% None n
Philippines Manila Worldwide 180 days 32% 32% 30% 12% 260$ 20% 3.5% of transaction* 0.5% of transaction* Income 0% 0% None y DTLTS: no tax but a stamp duty apply on the transaction. CGLTS: no tax but a stamp duty apply on the transaction.
Poland Warsaw Worldwide Vital interests or 183 days 28% 32% 19% 23% 45% 0% 19% 19% 19% 0% 0% None y
Portugal Lisbon Worldwide 183 days or residential ties 33%* 44.8%* 21% 23% 35% 0% 28% 1/2 of Income 28% 0% 0% Non-domicile* y Income 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%.
Qatar Doha Territorial 183 days or vital interests 0% 0% 10% 5%* 0* 0% 0% 0% 0% 0% 0% None y Social Security tax: only required for quatari nationals (15%). Sale tax: to be introduce before the end of 2018
Romania Bucharest Worldwide 183 days or vital interests 16% 16% 16% 19% 39% 0% 16% 5% 5% 0% 0% None y
Russia Moscow Worldwide 183 days 13% 13% 20% 18% 30% 0% 0% 9% 9% 0% 0% None y
Russia Saint Petersburg Worldwide 183 days 13% 13% 20% 18% 30% 0% 0% 9% 9% 0% 0% None y
Saint Kitts and Nevis Basseterre None N/A 0% 0% 33% 17% 19% 0% 0% 0% 0% 0% 0% None n Social Security tax: can go higher if salaries are higher than $2400USD/month
Saint Lucia Castries Worldwide 183 days or residential ties 30% 30% 30% 15% 10% 0% 0% 0% 0* 0% 0% None n Dividend tax: taxed only if remitted.
Saudi Arabia Jeddah Worldwide Residential ties and 30 days 0%* 0%* 20%* 5% 22%* 0% 20% 20% 0% 0% 0% None y Income 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 Arabia Riyadh Worldwide Residential ties and 30 days 0%* 0%* 20%* 5% 22%* 0% 20% 20% 0% 0% 0% None y Income 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%.
Serbia Belgrade Worldwide Vital interests or 183 days 10% 15% 15% 20% 3780% 0% 15% 15% 15% 0% 0% None y
Seychelles Victoria Territorial 183 days 15% 15% 33%* 15% 4% 0% 0% 15% 0% 0% 0% None y Corporate Tax: incremantal, an additonnal CSR tax applies on turnover at a rate of 0.5%. Rental Income: corporate tax, incremental.
Singapore Singapore Territorial 183 days 8% 20% 17% 7% 37% 0% 0% 0% 0% 0% 0% None y
Slovakia Bratislava Worldwide 183 days or residential ties 25% 25% 21% 20% 49% 0% 0% 7% 35% 0% 0% None y
Slovenia Ljubljana Worldwide Vital interests or 183 days 23% 50% 19% 22% 38% 0% 25% 25% 25% 0% 0% None y
South Africa Cape Town Worldwide 91 days in each of the last 5 years* 34% 45% 28% 14% 5% 20%* 16.4%* 20% 20% 0% 0% None y Tax 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 Africa Johannesburg Worldwide 91 days in each of the last 5 years* 34% 45% 28% 14% 5% 20%* 16.4%* 20% 20% 0% 0% None y Tax 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 Korea Busan Worldwide 183 days or residential ties 18%* 38.52%* 24% 10% 18% 50%* 0* Income Income* 0% 0% Non-permanent* y Non-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 Korea Seoul Worldwide 183 days or residential ties 18%* 38.52%* 24% 10% 18% 50%* 0* Income Income* 0% 0% Non-permanent* y Non-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.
Spain Barcelona Worldwide 183 days or vital interests 39% 50% 25% 21% 37% 34% 23% 23% 23% 2.75%* Capital Gains* Inpatriate* y Wealth 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.
Spain Madrid Worldwide 183 days or vital interests 39% 50% 25% 21% 37% 34% 23% 23% 23% 2.5%* Capital Gains* Inpatriate* y Wealth 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 Lanka Colombo Worldwide 183 days 22% 24% 28% 15% 23% 0% 0% Income 0% 0% 0% None y
Sweden Stockholm Worldwide 6 months* 39% 53% 22% 25% 38% 30% 30% 30% 30% 0% 0% None y Tax Res: habitual Swedish taxpayers will have to wait 5 years to break tax residence.
Switzerland Lausanne Worldwide Vital interests or 30 days* 19% 42% 28% 8% 14% 4% 0% Income Income 3% 0% Lump Sum y Tax 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.
Switzerland Zurich Worldwide Vital interests or 30 days* 13% 37% 27% 8% 14% 0% 0% Income Income 3% 0% Abolished y Tax 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.
Switzerland Geneva Worldwide Vital interests or 30 days* 15% 40% 32% 8% 14% 0% 0% Income Income 5% 0% Lump Sum y Tax Res: 30 days (gainfull activities) or 90 days (non gainful activities).
Syria Damascus Territorial Residential ties 20% 22% 31%* 0* 24% 25%* Income 0% 0% 0% 0% None y Corporate 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.
Syria Aleppo Territorial Residential ties 20% 22% 37%* 0* 24% 25%* Income 0% 0% 0% 0% None y Corporate 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.
Taiwan Kaohsiung Territorial* 183 days or vital interests* 22% 44% 17% 5% 20% 10%* Income* 0% 20%* 0% 0% None y* 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.
Taiwan Taichung Territorial* 183 days or vital interests* 22% 44% 17% 5% 20% 10%* Income* 0% 20%* 0% 0% None y* 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.
Taiwan Taipei Territorial* 183 days or vital interests* 22% 44% 17% 5% 20% 10%* Income* 0% 20%* 0% 0% None y* 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.
Tanzania Dar es Salaam Worldwide 183 days or residential ties* 30% 30% 30% 18% 21% 0% 0% 5% 10% 0% 0% Short term resident* n Tax 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.
Thailand Bangkok Worldwide 180 days 20% 35% 20% 7% 10% 5%* 0% 10% 0* 0% 0% Foreign income* y Inheritance: 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.
Thailand Phuket Worldwide 180 days 20% 35% 20% 7% 10% 5%* 0% 10% 0* 0% 0% Foreign income* y Inheritance: 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.
Tunisia Tunis Worldwide 183 days or residential ties 33% 35% 25% 18% 26% 3% 10% 5% Income 0% 0% None y
Turkey Istanbul Worldwide 6 months 32% 35% 22% 18% 35% 15% 0% 1/2 of Income 1/2 of Income 0% 0% None y
Turks and Caicos Islands Cockburn Town None N/A 0% 0% 0* 0%* 6% 0% 0% 0% 0% 0% 0% None n General 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 Islands Providenciales None N/A 0% 0% 0* 0%* 6% 0% 0% 0% 0% 0% 0% None n General 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.
UAE Abu Dhabi None N/A 0% 0% 0% 5% 0% 0% 0% 0% 0% 0% 0% None y Inheritance: property transfer tax of 4% will be levied on the property. General Sales Tax: will be levied at a rate of 5% beginning 2018.
UAE Dubai None N/A 0% 0% 0% 5% 0% 0% 0% 0% 0% 0% 0% None y Inheritance: property transfer tax of 4% will be levied on the property. General Sales Tax: will be levied at a rate of 5% beginning 2018.
UK London Worldwide 183 days* 32% 46% 19% 20% 25.8%* 40% 20% 38.1%* 38.1%* 0% 0% Non-domicile y Tax 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.
Ukraine Kiev Worldwide Vital interests or 183 days 19.5%* 19.5%* 18% 20% 22% 0* 6.5%* 6.5%* 19.5%* 0% 0% None y Income tax & Dividend Tax: includes an temporary 1.5% military tax. Inheritance: Stamp duty needs to be payed on property transfer, 1%.
Uruguay Montevideo Worldwide Vital interests or 183 days 36% 38% 25% 22% 31% 0% 12% 7% 12% 2% 0% None n
US Virgin Islands Charlotte Amalie Citizenshsip Nationals and lawfull permanent residents* 10% 30% 24.5%* 2% 1530% 0% 24% 20% Income 0% Capital Gain* None y Tax 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.
USA Miami Citizenshsip Nationals and lawfull permanent residents* 10% 30% 27% 7% 1530% 39% 24% 20% Income 0% Capital Gain* None y Tax 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.
USA Boston Citizenshsip Nationals and lawfull permanent residents* 15% 35% 29% 6% 1530% 39% 29% 25% Income 0% Capital Gain* None y Tax 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.
USA San Francisco Citizenshsip Nationals and lawfull permanent residents* 10% 40% 30% 9% 1530% 39% 33% 30% Income 0% Capital Gain* None y Tax 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.
USA Los Angeles Citizenshsip Nationals and lawfull permanent residents* 15% 40% 30% 9% 1530% 39% 33% 30% Income 0% Capital Gain* None y Tax 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.
USA New York Citizenshsip Nationals and lawfull permanent residents* 15% 40% 37% 9% 1530% 39% 34% 30% Income 0% Capital Gain* None y Tax 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.
Uzbekistan Tashkent Worldwide 183 days 23% 23% 8% 20% 33% 0% Income 10%* 0% 0% 0% None y DTLTS: can be exempted if reinvested in the same company.
Vanuatu Port Vila None N/A 0% 0% 5% of gross income* 13% 8% 0% 0% 0% 0% 0% 0% None n Corporate tax: rate is for financial services companies and companies with turnover above 10M Vatu.
Venezuela Caracas Worldwide 184 days 30% 34% 34%* 12% 23% 0% 1% of transaction 34% 34% 0% 0% None y Corporate tax: additional municipal tax is levied on turnover.
Venezuela Maracaibo Worldwide 184 days 30% 34% 34%* 12% 23% 0% 1% of transaction 34% 34% 0% 0% None y Corporate tax: additional municipal tax is levied on turnover.
Vietnam Hanoi Worldwide 183 days 35% 35% 20% 5% 32% 0% Income Income Income 0% 0% None y
Vietnam Ho Chi Minh City Worldwide 183 days 35% 35% 20% 5% 32% 0% Income Income Income 0% 0% None y

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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