Country Corporate tax Maximum income tax rate Standard VAT rate Albania 15 % 23 % 20 % Austria 25 % 55 % 20 % (Reduced rates 10 % + 13 %) Belarus 18 % 15 % 20 % Belgium 29 % (25 % from 2020. For SME 's 20 % from 2018 on the first € 100,000 profit) (7) 50 % (excluding 13.07 % social security paid by the employee and also excluding 32 % social security paid by the employer) 21 % (Reduced rates of 6 % and 12 %) Bosnia and Herzegovina 10 % 41 - 43 % (Depending on administrative entity) 17 % Bulgaria 10 % 10 % (additional 12.9 % by the employee for social security contributions, i.e. health insurance, pension and unemployment fund); and additional 17.9 % by the employer for various social security contributions) 20 % (Reduced rates 9 %) Croatia 18 % (Reduced rate 12 % for small business) 40 % (excluding 35.2 % total sum of insurances levied on income) 25 % (Reduced rates 13 % + 5 %) (Reduced rates 9 %) Cyprus 12.5 % 35 % 19 % (Reduced rates 5 % + 9 %) (Reduced rates 9 %) Czech Republic 19 % 53.5 % (15 % income tax + 6.5 % by employee + 25 % by employer (2.3 % healthcare + 21.5 % social security + 1.2 % state policy of employment) + 7 % solidarity contribution (assuming income is above 1 277 328 CZK per year)) 21 % (reduced rates of 15 % and 10 %) Denmark 22 % 55.56 % (including 8 % social security paid by the employee but excluding 0.42 -- 1.48 % church tax imposed on members of the national Church of Denmark) 25 % (reduced rate 0 % on transportation of passengers and newspapers normally published at a rate of more than one issue per month) Estonia 20 % CIT on distributed profit. 14 % on regular distribution. 0 % on undistributed profits. 20 % (+ 2.4 % of unemployment insurance tax, 0.8 % paid by employer, 1.6 % paid by employee and 33 % social security which is paid before gross wage by employer) around 57, 8 % in total 20 % (reduced rate 9 %) Finland 20 % 25 % to 67 % depending on the net income and municipality, including 7.8 % social insurance fees, employee unemplayment payment and employer unemployment payment, which is on average 18 % (2018). 24 % (reduced rate of 14 % for groceries and restaurants, 10 % for books, medicine, transport of passengers and some others) France 33.3 % (36.6 % above € 3.5 M, 15 % below € 38k) 49 % (45 % + 4 % for annual incomes above € 250,000 for single taxpayers or above € 500,000 for married couples) + social security and social contribution taxes at various rates, for example 17, 2 % for capital gains, interests and dividends. 20 % (reduced rate of 10 %, 5.5 %, 2.1 % and 0 % for specific cases like some food, transportation, cultural goods, etc.) Germany 22.825 % (few small villages) to 32.925 % (in Munich) depending on the municipality. This includes the 15 % CIT, 5.5 % solidarity surcharge plus the trade tax payable to the municipality. 47.475 % which includes 45 % income tax and 5.5 % solidarity surcharge based on the total tax bill for incomes above € 256,304. The entry tax rate is 14 % for incomes exceeding the basic annual threshold of € 9,000. 19 % (reduced rate of 7 % applies e.g. on sales of certain foods, books and magazines, flowers and transports) Georgia 15 % 20 % 18 % Greece 29 % 65.67 % (45 % for > € 40,000 + 7.5 % Solidarity Tax for > € 40000) + (26.95 % Social Security for employees or up to 47.95 % for private professionals) 24 % (Reduced rates 13 % and 5 %) Hungary 9 % 15 % (additional contributions at 10 % Social Security by employee and 22 % Social Security by employer and health care 7 % by employer) 27 % (Reduced rates 18 % and 5 %) Iceland 20 % 36.94 % from 0 - 834.707 and 46.24 % over 834.707 kr (2017) 24 % (12 % reduced rate) Ireland 12.5 % for trading income 25 % for non-trading income 40 % over € 34,550 for single, € 42,800 for married taxpayers. 23 % Isle of Man 0 % 20 % plus national insurance of under 12.8 % Same as United Kingdom (see below) Italy 27.9 % (24 % plus 3.9 % municipal) 45.83 % (43 % income tax + 2.03 % regional income tax + 0.8 % municipal income tax) 22 % (Reduced rates 10 %, 5 %, 4 %) Latvia 20 % CIT on distributed profit. 0 % on undistributed profits. 31.4 % 21 % (reduced rates 12 % and 0 %) Liechtenstein 12.5 % (2.5 % on IP and royalties) 28 % (max. 8 % national and 20 % municipal income tax) plus 4 % of the taxpayer 's net worth is subject to the same rate as wealth tax. 0 % on capital gains. 8 % / 2.5 % (till 31.12. 2017) 7.7 % / 2.5 % (from 01.01. 2018) Lithuania 15 % (5 % for small businesses with up to 10 employees and up to € 300,000 income) 55.2 % (effective tax rates: 25.5 % social insurance (nominally it is 31.2 % payable by employer + 3 % payable by employee), 15.6 % income (nominal rates are 6 % for health insurance nominal plus 15 % direct income)), applies to annual income of over € 15,000 annual tax allowance for children is € 2,400 (per child) 21 % (Reduced rates 5 %, 9 %) Luxembourg 29.22 % (commercial activity); 5.718 % on intellectual property income, royalties. 43.6 % (40 % income tax + 9 % solidarity surcharge calculated on the income tax) 17 % (Reduced rates 3 %, 8 %, 14 %) Republic of Macedonia 10 % 37 % (includes income tax 10 %, mandatory state pension 18 %, mandatory public health insurance 7.3 %, mandatory unemployment insurance 1.2 %, mandatory personal injury insurance 0.5 %) 18 % Malta 35 % (6 / 7 or 5 / 7 tax refunds gives an effective rate of 5 % or 10 % for most companies) 35 % 18 % (Reduced rates 5 %, 7 %) Monaco 0 % (> 75 % revenue within Monaco) or 33.33 % Montenegro 9 % 12.65 % (11 % income tax + 15 % of the income tax bill to the municipality) 17 % Netherlands 25 % above € 200,000 of profit and otherwise 20 % The Netherlands makes generous secret tax deals with huge multinationals. 52 % (55.6 % including income dependent tax reduction for incomes between € 67,072 - 121,972) 21 % (reduced rate of 6 % and 0 % for some goods and services) Norway 23 % (22 % in 2019) 46.6 % (53.2 % including 14.1 % social security contribution by employer. All taxes include 8.2 % pension fund payments). 25 % (reduced rate of 15 % for groceries, and 10 % for transport and culture.) Poland 19 % 32 % 23 % (reduced rates of 5 % and 8 %) Portugal 21 % 82.75 % where 48 % + 3 % special contribution Income tax and (additional contributions at 11 % Social Security by employee and 23.75 % Social Security by employer) 23 % (reduced rates 13 % and 6 %) Romania Revenue < € 1m: 1 % of all sales Revenue > € 1m: 16 % on profit Employee: 41.5 % (10 % income tax (out of gross minus pension & health deductions), 25 % pension contribution (out of gross), 10 % health contribution (out of gross)) - Gross incomes below RON 3,600 benefit from personal deductions of up to RON 1,310 from taxable income. Employer: 2.25 % (compulsory work insurance) 19 % (reduced rates of 9 % and 5 %) Russia 20 % 13 % straight tax + 29 % social tax (paid by company) + social insurance from 0, 5 % to 2, 5 % depending on traumatism risk. In total ca. 43 %. 18 % Serbia 15 % 52 % (capital gains tax 15 %, standard income tax rate 10 %, additional contributions by employee: 13 % state pension fund, 6.5 % state health fund, 0.5 % unemployment fund; additional contributions by employer: 11 % state pension fund, 6.5 % state health fund, 0.5 % unemployment; maximum contributions capped (amount changing monthly); additional tax for higher salaries (after 3 times average salary additional 10 %, after 6 times average salary additional 15 %)), 20 % Slovakia 22 % 50 % (income tax 19 % + 25 % for the part of annual income greater than € 35,022.31; additional contributions at 4 % mandatory health insurance by employee and 10 % by employer, 9.4 % Social Security by employee and 25.2 % by employer) 20 % (10 % reduced rate) Slovenia 22 % 50 % 22 % (reduced rate 9.5 %) -- from 1 July 2013 Spain 25 % 45 % maximum Income tax rate. Not including employee contribution of 6.35 % Social Security tax, 4.7 % pension contribution tax, 1.55 % unemployment tax, 0.1 % worker training tax. Not including employer contribution of 23.6 % Social security tax, 5.5 % unemployment tax, 3.5 % (or more) workers comp tax, worker training tax. 06 %, 0.2 % FOGOSA tax (employment tax in case of company bankruptcy). 21 % (reduced rates 10 % and 4 %) Sweden 22 % (21.4 % 2019, 20.6 % 2021) 69, 8 % including social security paid by employer 25 % (reduced rates 12 % and 6 %) Switzerland 16.55 % 22.5 % (Kanton Zug, Gemeinde Walchwil) to 46 % (Kanton Geneve), average rate 34 %. These taxes do not include social security that is private and not income based (e.) 8 % / 2.5 % (till 31.12. 2017) 7.7 % / 2.5 % (from 01.01. 2018 Ukraine 18 % 17 % 20 % United Kingdom 19 % (17 % from 2020) 47 % (45 % income tax + 2 % NI) - theoretically, NI could reach 12 %, but in practice it 's never combined with the higher income tax rate 62 % for earnings between £ 100,000 - £ 123,000 (40 % higher rate tax + removal of tax free personal allowance + 2 % NI) 45 % (additional rate) income tax on annual income above £ 150,000, 40 % (higher rate) between £ 43,001 and £ 150,000, 20 % (basic rate) between £ 0 and £ 43,000. There is also a National Insurance levy between 2 % and 13.8 % for employees and self - employed individuals but capital gains and dividend income is not subject to NI. The first £ 11,000 is tax - free if your annual income is below £ 100,000. Capital gains is taxed at 10 % (or 18 % on residential property) for basic rate taxpayers and 20 % (or 28 % on residential property) for higher and additional rate taxpayers. Dividend income from UK companies is taxed at 7.5 % for basic rate taxpayers, 32.5 % for higher rate taxpayers and 38.1 % for additional rate taxpayers. 20 % (reduced rate of 5 % for home energy and renovations, 0 % for life necessities -- groceries, water, prescription medications, medical equipment and supplies, public transport, children 's clothing, books and periodicals)
who pays the most income tax in europe
Portugal