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Tax rates in India and around the world

Last updated on: October 18, 2012 08:35 IST
Shoppers walk down Fifth Avenue in New York.

The world's highest top rates of income tax, according to KPMG, an accounting firm, are found in Aruba (58.95 per cent) and Sweden (56.6 per cent).

When employee social-security contributions are taken into consideration, though, neither country makes the top 10 for effective tax rates on gross income of $100,000, says The Economist.

Let's see where India ranks when it comes to income tax rates.

Source: The Economist

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Tax rates in India and around the world

Last updated on: October 18, 2012 08:35 IST
Shoppers leave a retail store inside a mall in Mumbai.

India

Tax on gross income of $100,000: 28 per cent

Employee social-security contribution: 12 per cent

Global rank: 7

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Tax rates in India and around the world

Last updated on: October 18, 2012 08:35 IST
Guests enjoy a 'dinner in the sky' on a platform hanging in front of the Royal Palace in Brussels.

Belgium

Tax on gross income of $100,000: 34 per cent

Employee social-security contribution: 13 per cent

Global rank: 1

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Tax rates in India and around the world

Last updated on: October 18, 2012 08:35 IST
Tourists sit on a hill overlooking Athens outside the archaeological site of the Acropolis.

Greece

Tax on gross income of $100,000: 30 per cent

Employee social-security contribution: 16 per cent

Global rank: 2

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Tax rates in India and around the world

Last updated on: October 18, 2012 08:35 IST
A view of Duomo cathedral in Milan.

Italy

Tax on gross income of $100,000: 35 per cent

Employee social-security contribution: 9 per cent

Global rank: 3

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Tax rates in India and around the world

Last updated on: October 18, 2012 08:35 IST
Potsdamer Street in Berlin.

Germany

Tax on gross income of $100,000: 27 per cent

Employee social-security contribution: 16 per cent

Global rank: 4

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Tax rates in India and around the world

Last updated on: October 18, 2012 08:35 IST
A dog sits as he waits next to his owner to cross a street in Copenhagen.

Denmark

Tax on gross income of $100,000: 42 per cent

Employee social-security contribution: 1 per cent

Global rank: 5

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Tax rates in India and around the world

Last updated on: October 18, 2012 08:35 IST
A cyclist rides past the Orsay Museum in Paris.

France

Tax on gross income of $100,000: 20 per cent

Employee social-security contribution: 21 per cent

Global rank: 6

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Tax rates in India and around the world

Last updated on: October 18, 2012 08:35 IST
Juscelino Kubitschek Bridge in Brasilia.

Brazil

Tax on gross income of $100,000: 27 per cent

Employee social-security contribution: 10 per cent

Global rank: 8

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Tax rates in India and around the world

Last updated on: October 18, 2012 08:35 IST
People stroll in a Stockholm park.

Sweden

Tax on gross income of $100,000: 36 per cent

Employee social-security contribution: zero per cent

Global rank: 9

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Tax rates in India and around the world

Last updated on: October 18, 2012 08:35 IST
Tourists stroll along Barcelona's harbour in Barcelona.

Spain

Tax on gross income of $100,000: 32 per cent

Employee social-security contribution: 3 per cent

Global rank: 10

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Tax rates in India and around the world

Last updated on: October 18, 2012 08:35 IST
Traffic passes the Houses of Parliament in London.

The United Kingdom

Tax on gross income of $100,000: 24 per cent

Employee social-security contribution: 8 per cent

Global rank: 11

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Tax rates in India and around the world

Last updated on: October 18, 2012 08:35 IST
Japan's Mt Fuji, covered with snow, is seen through Shinjuku skyscrapers in Tokyo.

Japan

Tax on gross income of $100,000: 14 per cent

Employee social-security contribution: 13 per cent

Global rank: 12

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Tax rates in India and around the world

Last updated on: October 18, 2012 08:35 IST
Rowers train at dawn on the Yarra River in Melbourne.

Australia

Tax on gross income of $100,000: 26 per cent

Employee social-security contribution: 2 per cent

Global rank: 13

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Tax rates in India and around the world

Last updated on: October 18, 2012 08:35 IST
The Brooklyn Bridge and Manhattan Bridge is seen from the 90th storey of One World Trade Center in New York.

The United States

Tax on gross income of $100,000: 18 per cent

Employee social-security contribution: 7 per cent

Global rank: 14

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Tax rates in India and around the world

Last updated on: October 18, 2012 08:35 IST
An aerial view shows vehicles travelling on intersections at night in downtown Shanghai.

China

Tax on gross income of $100,000: 23 per cent

Employee social-security contribution: 3 per cent

Global rank: 15

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Tax rates in India and around the world

Last updated on: October 18, 2012 08:35 IST
A view of the Nile river flowing through Cairo.

Egypt

Tax on gross income of $100,000: 20 per cent

Employee social-security contribution: 1 per cent

Global rank: 16

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Tax rates in India and around the world

Last updated on: October 18, 2012 08:35 IST
Zurich's main shopping street Bahnhofstrasse.

Switzerland

Tax on gross income of $100,000: 13 per cent

Employee social-security contribution: 4 per cent

Global rank: 17

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Tax rates in India and around the world

Last updated on: October 18, 2012 08:35 IST
A view of Hong Kong.

Hong Kong

Tax on gross income of $100,000: 14 per cent

Employee social-security contribution: zero per cent

Global rank: 18