As wealthiest Americans hardly paid any taxes, here's a look at countries where citizens pay highest income tax

SUMMARY

CNBC-TV18 takes a look at the countries where citizens pay the highest taxes after a ProPublica investigation claimed that the wealthiest Americans had paid just 3.4 percent income tax between 2014 and 2018

By Pradeep Suresh Jun 9, 2021 7:06:37 PM IST (Updated)

A ProPublica investigation has claimed that the wealthiest Americans, including the likes of Jeff Bezos, Elon Musk and Warren Buffett, had paid just 3.4 percent income tax between 2014 and 2018, even as their collective net worth rose by over $400 billion during the period. Given the current scenario and calls on raising taxes on the superrich in America, CNBC-TV18 takes a look at the countries where citizens pay the highest taxes. The ranking is according to Trading Economics.

No 10 | Ireland and Portugal | The European countries have a high personal income tax rate of 48 percent.

No 9 | The Netherlands | In the western European nation, citizens have to cough up 49.5 percent of their earnings as tax on income.

No 8 | Isreal, Belgium and Slovenia | With a 50 percent tax rate, the middle eastern powerhouse of Israel comes at eighth spot along with Belgium and Slovenia.

No 7 | Aruba | A constituent country of the Kingdom of the Netherlands located in the Caribbean Sea, Aruba has a tax rate of 52 percent.

No 6 | Sweden | The Scandinavian nation, popular across the globe for its welfare measures, imposes taxes as high as 52.9 percent on personal income.

No 5 | Austria | The central European nation imposes 55 percent tax on personal income.

No 4 | Denmark | Another Scandinavian nation to make it to the list with 55.9 percent tax rate is Denmark.

No 3 | Japan | The Asian powerhouse imposes 55.97 percent tax on income.

No 2 | Finland | The Baltic nation comes second on the list with income tax as high as 56.95 percent.

No 1 | Ivory Coast | Believe it or not, but the African nation, which has been involved in a brutal civil war that has thrown hundreds of thousands into poverty has imposed 60 percent tax on personal income.