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Map of the world showing national-level sales tax / VAT rates as of October 2019. Additional local taxes may apply. [citation needed]A comparison of tax rates by countries is difficult and somewhat subjective, as tax laws in most countries are extremely complex and the tax burden falls differently on different groups in each country and sub-national unit.
The global minimum corporate tax rate, or simply the global minimum tax (abbreviated GMCT or GMCTR ), is a minimum rate of tax on corporate income internationally agreed upon and accepted by individual jurisdictions in the OECD / G20 Inclusive Framework. Each country would be eligible for a share of revenue generated by the tax.
Tax withholding, also known as tax retention, pay-as-you-earn tax or tax deduction at source, is income tax paid to the government by the payer of the income rather than by the recipient of the income. The tax is thus withheld or deducted from the income due to the recipient. In most jurisdictions, tax withholding applies to employment income.
Withholding taxes are often imposed at rates differing from the prevailing income tax rates. Further, the rate of withholding may vary by type of income or type of recipient. [193] [194] Generally, withholding taxes are reduced or eliminated under income tax treaties (see below).
v. t. e. An expatriation tax or emigration tax is a tax on persons who cease to be tax-resident in a country. This often takes the form of a capital gains tax against unrealised gain attributable to the period in which the taxpayer was a tax resident of the country in question. In most cases, expatriation tax is assessed upon change of domicile ...
The tax percentage for each country listed in the source has been added to the chart. Tax revenue as percentage of GDP in the European Union. Relation between the tax revenue to GDP ratio and the real GDP growth rate (average rate in years 2013–2018, according to List of countries by real GDP growth rate, data mainly from the World Bank ...
The Tax Attractiveness Index (T.A.X.) indicates the attractiveness of a country's tax environment and the possibilities of tax planning for companies. The T.A.X. is constructed for 100 countries worldwide starting from 2005 on. The index covers 20 equally weighted components of real-world tax systems which are relevant for corporate location ...
Double taxation. Double taxation is the levying of tax by two or more jurisdictions on the same income (in the case of income taxes ), asset (in the case of capital taxes ), or financial transaction (in the case of sales taxes ). Double liability may be mitigated in a number of ways, for example, a jurisdiction may: fully tax the foreign-source ...