Are You Paying Too Much Tax? Tax Rates Around the World

Are You Paying Too Much TAX? 08 16 09400 261.47 24,2 63 2.40 5,241.04 5,682.04 381,948.49 2,339.93 63.50 21.14 Tax Rates Around the World 112.92 4,860. 00 392.50 Total P tepairO ial Feos 5252.60 EE The hardest thing to understand in the world is the income tax. ) Albert Einstein Top 10 Countries with the Highest Income Tax Rate 42.8% 39.9% 38.9% 35% 34% 25.4% 24.9% 22.7% 16.4% 15.5% Note on statistics: based on a single person on an average salary with no children Financial Secrecy + Secret Tax Jurisdictions USA has the Largest Global Scale Weight British Territories Appear Frequently $21 to $32 Trillion Dollars 19 of the states that appear on the Financial Secrecy List are British overseas territories and British Commonwealth territories. The estimated value of private financial wealth that is located, untaxed or lightly taxed, in secrecy jurisdictions around the world. It accounts for a 22.6% share of global financial services exports, more than any other state in the world. Samoa is the Most Secretive State $1 to $1.6 Trillion Dollars The annual estimated value of illicit cross-border This includes banking secrecy and company ownership records, but it only accounts for less than 1% of the global market for offshore financial flows. financial services. Top 10 Tax Havens in the World Switzerland Luxembourg Hong Kong Cayman Islands Singapore USA Lebanon Germany Jersey Japan Note on statistics: based on the Financial Secrecy Index which ranks the world's largest tax havens, based on two factors - a territory's financial secrecy score and its share of the global market for offshore financial services. USA Spotlight on Income Tax: Rich Vs Poor People with adjusted gross incomes of People with incomes less than $50,000 accounted for 63.4% of all Their average tax rate $250,000+ paid nearly ½ of all individual income taxes, Their average tax rate was 25.6%. was 4.2%. individual income tax returns filed, but they but they accounted for only 2.4% of all paid 6.2% of income tax returns filed. total taxes. Note: Pew Research based on 2013 statistics Ayers www.ayers.com.au References www.pewresearch.org/fact-tank/2015/03/24/high-income-americans-pay-most-income-taxes-but-enough-to-be-fair/ www.statista.com/chart/3337/where-do-workers-pay-the-highest-income-tax/ www.cityam.com/209310/mapped-worlds-biggest-tax-havens www.financialsecrecyindex.com/ Belgium - Germany - D Denmark Hungary- Austria- Greece UK . USA - New Zealand - Israel - ()