TAXES IN EUROPE
Most countries of the European Union, especially those with strong economies, have rather high taxes. For example, in Sweden, the maximum rate reaches 52.1%.
Overall in six European countries the maximum income tax rate exceeds 50%. To be fair, it should be noted that the amount of tax deductions from wages in Europe depends not only on income but also on the marital status of the employee, the number of dependents, age, health and some other factors.
Based on official data from European governments and government statistical offices, we will highlight the current tax rates in Europe in 2024.
| № | COUNTRY | Income tax (%) | VAT (basic rate %) | Corporate income tax (%) |
| 1. | Austria | 0-55 | 20 | 25 |
| 2. | Belgium | 25-50 | 21 | 25 |
| 3. | Bulgaria | 10 | 20 | 10 |
| 4. | Croatia | 24-36 | 25 | 18 |
| 5. | Cyprus | 0-35 | 19 | 12.5 |
| 6. | Czech Republic | 15-23 | 21 | 19 |
| 7. | Denmark | 8-52.07 | 25 | 22 |
| 8. | Estonia | 20 | 20 | 20 |
| 9. | Finland | 12.64-44 | 24 | 20 |
| 10. | France | 0-45 | 20 | 25 |
| 11. | Germany | 0-45 | 19 | 29.79 |
| 12. | Greece | 9-44 | 24 | 24 |
| 13. | Hungary | 15 | 27 | 9 |
| 14. | Ireland | 20-40 | 23 | 12.5 |
| 15. | Italy | 23-43 | 22 | 24 |
| 16. | Latvia | 20-31,4 | 21 | 20 |
| 17. | Lithuania | 15 | 21 | 15 |
| 18. | Luxembourg | 0-42 | 17 | 24.94 |
| 19. | Malta | 0-35 | 18 | 35 |
| 20. | Netherlands | 36.93-49.50 | 21 | 25.8 |
| 21. | Poland | 18-32 | 23 | 19 |
| 22. | Portugal | 14.5-48 | 23 | 21 |
| 23. | Romania | 10 | 19 | 16 |
| 24. | Slovakia | 19-25 | 20 | 21 |
| 25. | Slovenia | 16-50 | 22 | 19 |
| 26. | Spain | 19-45 | 21 | 25 |
| 27. | Sweden | 32.12-52.1 | 25 | 20.6 |
In conclusion, the European countries with the highest income tax for singles are Germany, Belgium, Lithuania, Denmark, and Slovenia. For married couples with two children, significant deductions are available in Lithuania, Denmark, Finland, and the Netherlands.
RELATED ARTICLES:
