UK’s Tax System – Country Profile
The UK’s tax system offers a blend of competitive corporate rates and progressive individual taxation. Corporations face a 19% tax on worldwide profits, while personal income is taxed up to 45%. The UK’s inheritance tax stands at 40%, though there’s no wealth or gift tax. For non-domiciled individuals, the remittance basis offers a unique way […]
Switzerland’s Tax System – Country Profile
Switzerland’s tax system is renowned for its stability and flexibility, with federal corporate income tax rates as low as 8.5% and progressive personal income tax up to 11.5%. However, Cantonal and Communal taxes significantly impact overall rates, varying by region. The country offers unique incentives like the “lump sum” regime for non-Swiss nationals. Switzerland’s commitment […]
Spain’s Tax System – Country Profile
Spain’s tax system combines progressive personal taxation with competitive corporate rates, offering a structured framework for both individuals and businesses. Corporate income is taxed at 25%, while personal income can reach up to 47% depending on regional variations. Spain also imposes wealth, gift, and inheritance taxes, with rates varying by autonomous community. Strong anti-avoidance measures, […]
Portugal’s Tax System – Country Profile
Portugal’s tax system balances competitive corporate rates with progressive personal taxation. With a 21% corporate income tax and personal rates reaching up to 48%, it offers structure and clarity. Gift and inheritance taxes are modest at 10%, and the absence of wealth tax further simplifies the framework. Portugal aligns with EU anti-avoidance directives and international […]
Norway’s Tax System – Country Profile
Norway’s tax system blends simplicity and structure, with a 22% corporate income tax and a progressive personal income tax reaching up to 39.6%. Wealth tax is applied at rates of 1% to 1.10%, while gift and inheritance taxes are absent. As a member of the European Economic Area (EEA), Norway aligns its tax framework with […]
Italy’s Tax System – Country Profile
Italy’s tax system combines progressive personal taxation with competitive corporate rates, offering a mix of traditional and modern approaches. Corporations face a 24% income tax plus a regional levy, while individuals are taxed up to 43% on worldwide income, with additional municipal and regional taxes. Gift, inheritance, and wealth taxes apply, but Italy also offers […]
Hungary’s Tax System – Country Profile
Hungary’s tax system is one of Europe’s most competitive, featuring a low 9% corporate income tax rate and a flat 15% personal income tax. Gift and inheritance taxes are minimal, with exemptions for close family members, and there’s no wealth tax. Hungary also aligns with EU and OECD anti-avoidance rules, ensuring compliance with global standards […]
Greece’s Tax System – Country Profile
Greece’s tax system balances moderate corporate taxation with progressive personal income taxes. With a corporate tax rate of 22% and personal rates reaching up to 44%, Greece offers a structured yet adaptable framework. Gift and inheritance taxes are relatively low for direct relatives, while the absence of wealth tax makes the system less burdensome for […]
France’s Tax System – Country Profile
France’s tax system is comprehensive and progressive, with corporate taxes ranging from 26.5% to 27.5% depending on turnover, and personal income taxes reaching up to 45%, plus additional social surcharges. The country imposes wealth, gift, and inheritance taxes, demonstrating its focus on equity and wealth redistribution. France’s robust anti-avoidance measures, including CFC and Transfer Pricing […]
Belgium’s Tax System – Country Profile
Belgium’s tax system combines moderate corporate tax rates with progressive personal income taxation. Corporations face a 25% tax on worldwide income, while individuals are taxed at rates up to 50%, along with a solidarity tax on large securities accounts. Belgium also imposes regional gift and inheritance taxes, but no wealth tax. With robust anti-avoidance rules, […]