TAX RATES

[Chederer]

This morning I was reading about different countries and their tax rates. I noticed some countries were out of this world....some almost as high as 50%. Could you please let me know a little bit more about your country and its current tax rate? This would be great information.

[coke4]

In Ireland income tax is 20% up to around 40 000 (depending or married or not etc) and 41% over that. Our lowest earners dont pay anything.

I know in Scandinavian countries the tax rates can go up to around 60%, but that is because they have a great welfare state with.

[Moralspain]

our system is very complex but in short





de= from
a= to

those amounts are in EUROS

PS: Obviously that 12.000 is a mistake, it should say 120.000 euros

we're talking about the income tax, but in Europe the most important tax is Value-Added Tax that tax is applied to every single transaction/purchase (there're little exceptions), in Spain that tax is the 18% (IVA), that tax, i think , is similar to the sales tax you have in the US, although you don't pay the 18% plus and in your country is not applied to everything like here just for some retail sales. (i think)


In Spain we pay a lot of different taxes, that's rue, but that's why we can have, for example, a Public Health system, for free, and for everyone, not only for the spaniards, for everyone.
So Chederer if you have to visit Spain don't worry about private health insurances, we'll take care of you

[supinesmokey13]

This morning I was reading about different countries and their tax rates. I noticed some countries were out of this world....some almost as high as 50%. Could you please let me know a little bit more about your country and its current tax rate? This would be great information.

that 50% you heard is in the uk for people in top tax bracket i.e. earning 40,000+ and here's some tax info related to tennis all sports all athletes that compete in events in the uk will be taxed on their prize money and endorsements regardless of whether or not they live here or own a business in the country as a result of this London could lose the atp world tour finals currently held in London before the the expiration of the agreed five year contract as players may decide lobby to move the event elsewhere because that is a lot of money to be taxed especially if you play say queens, Wimbledon and then the world tour finals.

[Tantsutallinn]

in estonia its much easier

we have taxfree step, which is half of the average salary and everything that exceedes it, is taxed with 21%. and that way we need less workers in tax board . i dont understand the changes in percentages for high incomes, taxing should be easy, not difficult. and a person with high income still pays higher taxes, because the sum calculated from his/her higher earnings is higher.

[TomBs]

Income (person salary) tax in Netherlands:

€0 - €17,879: 33,5%
€17,879 - €32,128: 42%
€32,128 - €54,777: 42%
€54,777 - whatever you earn: 52%

It's not as when you earn €100,000 you have to pay 52% over all of it. You'll pay 33,5% over the 1st €17,879, then 42% over the next part up to €54,777 and then 52% over the rest.

Apart from that the Value-Added Tax is apart from some exceptions 19%.

[coke4]

Yeah, Ireland has 21% VAT rate of most good, but its less on some goods and in restaurants, and there is none on educational books.

The tax rate Ireland is most known for around Europe is its Corporation Tax, our rate is 12.5% and is much lower than all other western European countries, and since being bailed out Ireland has come under a lot of pressure from Europe, mainly France and Germany, to increase it.

[Chederer]

wow....the Netherlands is quite high as well as in Spain and Ireland. Do you guys get tax returns(money the government gives back to you)?

[coke4]

wow....the Netherlands is quite high as well as in Spain and Ireland. Do you guys get tax returns(money the government gives back to you)?

Ireland's taxes are in comparison to other western countries quite low.

We have tax credits in Ireland and get some tax relief on medical expenses

[Chederer]

wow....the Netherlands is quite high as well as in Spain and Ireland. Do you guys get tax returns(money the government gives back to you)?

Ireland's taxes are in comparison to other western countries quite low.

We have tax credits in Ireland and get some tax relief on medical expenses

hey, sorry coke i just saw 41% and did not see the 20% you posted. the 20% is not bad at all. i know here in the U.S. every state is different. if you compare Texas and Minnesota for example: Both have a federeal government tax, but Texas has no state tax, but Minnesota does. This really stinks for people in Minnesota because they usually end up owing money back to the government and in Texas we end up getting money back unless other extreme issues are involved such as self employment, etc.

[coke4]

hey, sorry coke i just saw 41% and did not see the 20% you posted. the 20% is not bad at all. i know here in the U.S. every state is different. if you compare Texas and Minnesota for example: Both have a federeal government tax, but Texas has no state tax, but Minnesota does. This really stinks for people in Minnesota because they usually end up owing money back to the government and in Texas we end up getting money back unless other extreme issues are involved such as self employment, etc.

No need to apologise, from looking at this page and comparing us to the USA you would think Ireland's tax rate is very high.

A lot of people did not pay any tax in Ireland. I think in 2009 50% of people did not pay any tax. Since then they have widened the tax base.

Yea it must suck for people in Minnesota if that is the case, but that is what happens in these situations.

[Moralspain]

wow....the Netherlands is quite high as well as in Spain and Ireland. Do you guys get tax returns(money the government gives back to you)?

The companies (if you're not self-employee) deduct, every month, from your salary an amount to cover social security costs (all this money is used to pay a salary to the unemployed, retired people, if you have to quit your job due to health problems etc) and also a % for the IRPF (personal income tax), so in june more or less we always present the income tax return file, and after many calculations, deductions etc, it may happen that you have paid more money that you had to, during the year, and in that case the Tax Administration National Agency will return you money (extra taxes you paid)....... a bit complicated, but it works quite well, our public services are really good as i said earlier.

[Likos86321]

Found a great booklet for Cyprus Tax Rates.

Its actually the same that my university professor gave us.

Check out tax rates in Cyprus if interested (copy and paste the url to your browser)

http://www.deloitte.com/assets/Dcom-Cyp ... ents/cy(en)_CyprusTaxFacts2011_100211.pdf

[TomBs]

wow....the Netherlands is quite high as well as in Spain and Ireland. Do you guys get tax returns(money the government gives back to you)?

Well, we have a lot of social services etc. Like when getting unemployed, getting sick etc. you'll get money. You can deduct from taxes when buying a house. Don't ask me how all of it works though, but when you buy a house here you usually take a loan for it. Then for the next 50 years or so you'll be just paying back interest, not even the loan itself. But that interest is tax deductable.

On the other hand there's lot of investments in infrastructure. Netherlands is among the best countries (together with Scandinavia) when it comes to traffic safety.

The social system is just so different from USA's. Maybe we earn less, but we'll hardly ever have to pay huge money for medical treatment and such. When you retire you'll keep getting paid some money every month. Not that I know much about USA's system.

[Rob ITST]

The social system is just so different from USA's. Maybe we earn less, but we'll hardly ever have to pay huge money for medical treatment and such. When you retire you'll keep getting paid some money every month. Not that I know much about USA's system.

It's not much different here, really. The biggest difference is that we pay medical insurance (to avoid paying huge money for medical treatment) while you pay taxes. For many of us, it's as though it were taxes - it gets taken from your pay before you ever get your check.

We also get monthly payments when we retire, but it's each person's responsibility to make sure those payments are enough.

Both systems have their ups and downs - capitalism can be harsh on those who really need help, socialism can be harsh on those who don't.