5 Countries With Highest Income Tax Rates In The World

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Taxes are the vital lifeline of a nation's economy

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Fuelling growth, tax revenue drives government initiatives

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However, some nations enforce higher taxes compared to others

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As per NASDAQ, on the fifth position there are three countries 

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Slovenia, Israel, and Belgium impose a 50% personal income tax on citizens

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Luxembourg stands at fourth position with an income tax rate of 51%


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With a cost of living of $1,003.64, Finland has a tax rate of 55%

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Austria, which is a social market economy, also taxes its citizen with a rate of 55%

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Denmark has the highest tax rate in the world - 56%

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Europe dominates the list with 13 out of 20 of its countries on the list

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