Tax: How much tax is levied in which country, from Dubai to London, here is the complete list..

Every working person waits for the first of the month. When their salary arrives, their face lights up, but when they see the tax deductions, that glow fades. We Indians often think that our tax burden is too high, but did you know that there are some countries in the world where the government doesn't take a single rupee from your earnings? Meanwhile, there are some countries where more than half of your income goes into the government treasury.

In these countries, you don't have to pay a single penny in taxes.
First, let's talk about countries that are a paradise for any taxpayer. The top of this list is the United Arab Emirates (UAE). This country, home to cities like Dubai and Abu Dhabi, is extremely popular among Indians. The biggest reason for this is that there is no income tax on salaries. Whatever you earn goes into your pocket. This is why professionals from all over the world are drawn here.

Not only the UAE, but its neighboring countries are also not far behind in this regard. Saudi Arabia is also included in the list of tax-free countries. There is neither income tax nor capital gains tax. Kuwait's system is considered even more excellent, as it does not impose income tax, inheritance, or gift taxes. This is an excellent option for those living abroad for a long time.

Similarly, in Bahrain and Qatar, the government does not monitor your income. In Bahrain, the government generates its revenue through indirect taxes, making it a favorable destination for small businesses and startups. Similarly, in the Bahamas, there are no hassles of income, gift, or capital gains taxes. Here, the government fills its coffers through VAT and stamp duty.

However, Oman is on its way to becoming an exception to this list. Currently, it is tax-free, but there are reports that preparations are underway to impose a 5% tax on high-income groups from 2028. Still, the 5% rate is negligible compared to the rest of the world.

Governments take half of your earnings here.
Now consider the other side of the picture. If you're dazzled by the glitz of Europe's prosperous countries, their tax system may surprise you. Finland has the highest income tax in the world. It may be hard to believe, but the highest tax rate there is 57.65%, meaning the government takes more than half of your income.

Following closely behind is Japan, where the rate is 55.95%. Other European countries, such as Denmark (55.9%), Austria (55%), and Sweden (52%), also have high tax burdens. In countries like Belgium, Israel, the Netherlands, and Portugal, people pay 48% to 50% of their hard-earned money in taxes.

If we talk about London (UK), you have to loosen your purse strings there too. Tax rates in London depend on your income slab, starting from 20% and going up to 45%. Additionally, a 20% VAT is levied on every item. This makes living and earning money there both expensive. Tax rates in Germany, France, and Australia also hover around 45%, which is considered quite high.

What about the US, China, and neighboring countries?
The US, the world's largest economy, has a maximum tax rate of 37%, which is somewhat more lenient than that of European countries. Meanwhile, our neighbor China surpasses India in tax collection, with a maximum rate of 45%. India's other neighboring countries, Pakistan, Indonesia, and Mexico, have 35% rates. Bangladesh has a comparatively low rate of 25%. There are some countries in the world where taxes are levied, but at very low. For example, the highest rate in Guatemala is just 7%. Kazakhstan, Romania, and Serbia have 10%, while Russia charges 13%.

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