Top 10 countries with the highest levels of tax
If you are self-employed, entrepreneur, have a small business it’s mandatory to know how much taxes you have to pay. Here’s a top 10 countries with the highest levels of tax, and Norway it’s not among them.
10 – Nicaragua: 65.8% — In 2012, the International Monetary Fund suggested that the country reduce the complexity of its corporate tax system;
9 – France: 66.6% — If you live in France, and you have a business, is very hard to survive on the market because you will pay not less than 66.6 %;
8 – Guinea: 68.3%;
7 – Brazil: 69% — Last year, Latin America’s biggest economy eliminated a 20% tax on business payrolls as part of an effort to reform its system;
6 – Mauritania: 71.3% – a agriculture-dependent country, Mauritania pays 71.3%;
5 – Algeria: 72.7% — Algeria has the highest total tax rate in Africa;
4 – Colombia: 75.4%;
3 – Tajikistan: 80.9%;
2 – Bolivia: 83.7% – In Bolivia there’s a tax on transactions. Doing a transaction, you will pay 3% tax on it;
1 – Argentina: 137.3%
Nowadays is not easy to have a profitable business, not in the above countries anyway, but our advice, for the young entrepreneurs is to look for a country with low tax rates, but that’s a different topic. If you live in the UK, the income tax rates are decent but we’ll let you read more about tax rates here.
The full article can be read on businessinsider.com