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08 January 2020
The global picture
Key points
- G7 countries have the highest taxes on the income of the wealthy.
- G7 tax rates on the wealthy have generally fallen over recent years.
- There are higher tax rates on the poor in emerging economies compared to the G7.
- Emerging economies are starting to re-evaluate their tax policies for lower incomes.
European income tax rates are continuing to fall in western Europe while average tax rates have risen in emerging markets. This is the conclusion of a UHY report Income tax around the world (tinyurl.com/wd3pugn) which brings together research that the firm has undertaken into the differing tax approaches across the world. The report updates statistics that were collected five years previously.
The report is the result of research across 30 countries studying the taxes paid on incomes equivalent to US$25 000 $250 000 and $1.5m. All revenues deducted from...
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