This indicator relates to government as a whole (all government levels) and is measured in percentage both of GDP and of total taxation. (Source: Trading Economics) According to the latest figures on income tax rates by country, the Japanese need to dedicate a large sum of their income to taxes. Aside from this high-income tax rate, there is also a social security rate of 18%, bonus payments are charged at a rate of 6%, and capital gains tax is put at 25%. For instance, if a country has a top income tax rate of 50 percent on income over €1 million, only a small number of high-earning taxpayers will pay that rate and it may not generate significant tax revenues.
Tax breaks are available in Hungary, depending on certain factors such as family size. TOTAL TAX REVENUE. 4. In 2006, Slovenia passed a motion that simplified the system of taxes collected in the country. This report compares top effective marginal tax rates on labour income in 41 OECD and EU countries.

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. Corporate income tax/solidarity surcharge: 15.825%; Trade tax: From 12.6% to 20.3%, depending upon the location of the business establishment.

5. The income tax collected in Hungary contributes about 33% to its GDP.
Beyond the tax rates, here’s an in-depth look at everything we uncovered related to average wages and the taxes’ impact on workers’ income around the world. Then there are the tax rates themselves—tax brackets. In 2019, the United Arab Emirates held onto its running record of being the country with the highest corporate tax rate. To get a baseline on how the average citizen in each country can expect to be taxed, it’s necessary to know how much the average citizen makes. Corporate Tax Rates 2020 includes information on statutory national and local corporate income tax rates applicable to companies and branches, as well as any applicable branch tax imposed in addition to the corporate income tax (e.g., branch profits tax or branch remittance tax). The list focuses on the main indicative types of taxes: corporate tax, individual income tax, and sales tax, including VAT and GST, but does not list capital gains tax. The highest individual income tax rate in Hungary is only 15 percent. Accomplish that to a high degree, whether it’s in tourism, oil production or mining, and you’ll have revenue that can offset the need to tax residents. Chapter 3 - Table 3.15 - Tax revenues of subsectors of general government as % of total tax revenue.

Slovenia - 34.1% .