Income Tax Brackets Europe

Romania 16 however please remember that other taxes apply.

Income tax brackets europe. It is focused on three types of taxes. The list focuses on the main indicative types of taxes. European oecd countries like most regions around the world have experienced a decline in corporate income tax rates over the last decades. The eu countries with the lowest tax rates for income tax are.

Like many of its western balkan neighbors montenegro has sought to attract business to its small country population. 620 000 by lowering tax rates. This is a list of the maximum potential tax rates around europe for certain income brackets. Countries tax labor income in various ways through payroll taxes personal income taxes and in some cases surtaxes.

Each category has its own deductions and tax rates and general tax credits apply to net income after the three categories are totaled. Some other taxes for instance property tax substantial in many countries such as the united states and payroll tax are not shown here. Estonia 21 3 percent latvia 21 4 percent and the czech republic 31 1 percent have the lowest top income tax rates of all european countries covered. Montenegro boasts the lowest headline personal income tax and corporate income tax rates in europe both pegged at a flat 9.

In 2018 revenue from personal income taxes made up 23 9 percent of total tax revenue across oecd countries. This page displays a table with actual values consensus figures forecasts statistics and historical data charts for list of countries by personal income tax rate. The threshold at which the top income tax rate applies also plays an important role. It is not intended to represent the true tax burden to either the corporation or the individual in the listed country.

Income is taxed at progressive rates of 37 35 to 49 5. From 2017 to 2020 ten european countries in the oecd changed their top personal income tax rates. Bulgaria 10 czech republic 15 hungary 15 lithuania 15 and. In these countries taxes on goods and services tend to be higher than the other eu member states.

The highest tax rate individuals pay differs significantly across european oecd countries as shown in today s map. Corporate tax individual income tax and sales tax including vat and gst but does not list capital gains tax. The countries with the highest top income tax rates are slovenia 61 1 percent portugal 61 0 percent and belgium 60 2 percent. Most countries individual income taxes have a progressive structure meaning that the tax rate paid by individuals increases as they earn higher wages.

Eu countries with the lowest personal income tax. Corporate individual and value added taxes vat. List of countries by personal income tax rate provides a table with the latest tax rate figures for several countries including actual values forecasts statistics and historical data.