Income tax drop as govts compete on tax
Income taxes have dropped globally as more labour mobility forces governments to compete on tax
Income taxes have dropped globally as more labour mobility forces governments to compete on tax
Income taxes around the world have fallen by an average 2.5% as increased
labour mobility has forced governments to compete on tax, according to one of
KPMG
International’s latest surveys.
The KPMG’s Individual Tax Rate Survey 2008, its first cross-border survey of
personal tax rates, revealed 33 of 87 countries had reduced personal taxes in
past six years and only seven had increased them.
Worldwide, top personal tax rates dropped from an average 31.3% in 2003 to
28.8% in 2008. But EU taxpayers still pay the highest rates, at an average of
36.4%, followed by those in the Asia Pacific at 34.6% and Latin America at
26.9%.
At a country level, the world’s highest tax rates are paid in Denmark, at a
top rate of 59% for the six-year period, while the lowest EU rate is in
Bulgaria, which has just introduced a flat rate of 10%, down from 24%.
The numbers you crunch tell a story. Your expertis...
16yEmbracing user-friendly AP systems can turn the tide, streamlining workflows, enhancing compliance, and opening doors to early payment discounts. Read...
View articleOrganisations can enhance their financial operations' efficiency, accuracy, and responsiveness by adopting platforms that offer them self-service cust...
View articleIn a world of instant results and automated workloads, the potential for AP to drive insights and transform results is enormous. But, if you’re still ...
View resourceDiscover how AP dashboards can transform your business by enhancing efficiency and accuracy in tracking key metrics, as revealed by the latest insight...
View articleHMRC sees the profit or loss made on buying and selling of exchange tokens as within the charge to Capital Gains Tax (CGT). Read More...
View articleThe recent IR35 case involving former Liverpool footballer and Sky Sports presenter, Phil Thompson, has drawn attention to the complexities and implic...
View articleFrom January 1, 2024, HMRC will implement new tax rules affecting individuals who sell items on platforms like Etsy, Depop, and Vinted. The new regula...
View articleHMRC reveal a small majority of people are soldiering a significant proportion of income and capital gains tax, following FOI request. Data has reigni...
View articleSteven Pinhey, technical officer at the Association of Taxation Technicians (ATT), considers how the rules on deductible expenses work in a social med...
View articleATT technical officer, David Wright, considers the implications of HMRC’s decision to remove employees with income between £100,000 and £150,000 from ...
View articleThis was the fourth largest borrowing year since records began in 1993 Read More...
View articleATT technical officer, David Wright, provides an overview of the welcome relaxation to CGT provisions for separating couples looking to transfer asset...
View article