Income Tax Rates for 2024

Income Tax Brackets

has a flat income tax rate of % applicable to all people, regardless of income level.

How does the Income Tax compare to the rest of the world?

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The income tax, at up to %, is the highest income tax rate in the world. Countries with similar tax brackets include
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Keep in mind that our ranking measures only nationwide income taxes, and does not account for local income taxes at state, province, or municipal levels.

Maximum Income Tax	Income Tax Allowance	World Tax Rank
%	0 ($0 USD)	Warning: mysql_num_rows() expects parameter 1 to be resource, boolean given in /home/taxrates-legacy/public_html/world.php on line 433 1st of 34

What is the Income Tax?

's personal income tax is a flat-rate income tax that must be paid yearly by all citizens to the government of . Failure to pay, or underpayment of, the income tax can result in high fees, fines, or jail time.

In addition to 's income tax, other taxes may apply to wages or profits earned, including social services, medical care, and capital gains taxes.

Income Tax Allowance

Unlike many other countries, does not provide taxpayers with a tax-free income tax allowance, and all income reported (minus deductions) is taxable by the income tax.

A tax credit is a fixed amount of money that may be kept by taxpayers without paying any income taxes. Generally, a tax credit is subtracted from your gross income before your taxable income is calculated.