Jump to content
House Price Crash Forum
Sign in to follow this  
Executive Sadman

Global Income Tax Rates

Recommended Posts

http://www.bbc.co.uk/news/magazine-26327114

- Those on a $400,000 salary in France actually pay slightly less tax than those in the UK!

- Saudi looks good, get to keep nearly 97% of your $400,000

- Russia too, but you probably have to spend the difference on bodyguards, security, bribes etc.

Average single earners in the UK *appear* to do well compared to Germany, but I notice it takes no account of tax credits, so is a pretty redundant comparison.

Danes get done by their government.

Share this post


Link to post
Share on other sites

http://www.bbc.co.uk/news/magazine-26327114

- Those on a $400,000 salary in France actually pay slightly less tax than those in the UK!

- Saudi looks good, get to keep nearly 97% of your $400,000

- Russia too, but you probably have to spend the difference on bodyguards, security, bribes etc.

Average single earners in the UK *appear* to do well compared to Germany, but I notice it takes no account of tax credits, so is a pretty redundant comparison.

Danes get done by their government.

:huh: Yes it does. From the article:

In Germany the rate drops from 39.9% to 21.3% because of generous child tax credits.

Share this post


Link to post
Share on other sites

:huh: Yes it does. From the article:

Well why does it say they take 24.9% regardless of children or not for the UK then?!

Im pretty sure an average UK earner with two kids does not pay the same net rate of tax after credits as one without.

Share this post


Link to post
Share on other sites

Well why does it say they take 24.9% regardless of children or not for the UK then?!

Im pretty sure an average UK earner with two kids does not pay the same net rate of tax after credits as one without.

I don't think a couple, with two kids, who were both earning the national average wage would be entitled to any tax credit. I could be wrong on that though.

Share this post


Link to post
Share on other sites

I don't think a couple, with two kids, who were both earning the national average wage would be entitled to any tax credit. I could be wrong on that though.

Didnt the coalition get called evil and stuff for restricting it to households on under £60k a year?

Or is it considered child benefit rather than child tax credit?

either way, they seem intent on making it as un-transparent as possible.

Share this post


Link to post
Share on other sites

Didnt the coalition get called evil and stuff for restricting it to households on under £60k a year?

Or is it considered child benefit rather than child tax credit?

either way, they seem intent on making it as un-transparent as possible.

For a family with two kids, the cut-off point is about £32K, which also happens to be the average male salary in the UK. So a typical family with a dad on the average wage and a stay-at-home mum would be just on the edge of qualifying for tax credits. The Germans, it would seem, are somewhat more generous to families with kids than we are.

Share this post


Link to post
Share on other sites

Didnt the coalition get called evil and stuff for restricting it to households on under £60k a year?

Or is it considered child benefit rather than child tax credit?

either way, they seem intent on making it as un-transparent as possible.

Child benefit and child tax credit are two different things.

Child benefit is based on the highest earner, tapered from £50k to 60k. So a couple who are both on £49k will get the full amount but a single-earner couple on £60k will get nothing.

Child tax credit has a much lower cut-off and is based on household earnings minus childcare costs, IIRC.

Share this post


Link to post
Share on other sites

- Those on a $400,000 salary in France actually pay slightly less tax than those in the UK!

Misleading I think.

The headline "deduction" figure might be lower but they have vast employer contributions on top as well, which doesn't appear to be factored into these figures.

Share this post


Link to post
Share on other sites

Misleading I think.

The headline "deduction" figure might be lower but they have vast employer contributions on top as well, which doesn't appear to be factored into these figures.

That's right. UK has ~13% employment tax on top to consider as well. It's a lot lower than that in Canada which makes that comparison table fairly pointless.

Share this post


Link to post
Share on other sites

completely misleading. unless you factor in national insurance, mandatory health insurance (as in Oz, for example), other mandatory taxes such as council tax, road tax, television license, etc etc , it is impossible to work out what the 'take home pay' is. For example, I just got my electric bill in HK - 300 HKD for the month of which the government gives me a rebate of 150HKD. Is that included in the tax calculations they have done? I doubt it.

The BBC, basically, is pushing the lie that people in the UK keep about 40% of their wages. If people in the UK really realised that they spend 80% of their time in order to give their money to the state, their would be riots.

Share this post


Link to post
Share on other sites
The Germans, it would seem, are somewhat more generous to families with kids than we are.

Which is fair enough given that their kids don't grow up to be cocky little scumbags within 10 years ready to spawn new cocky little scumbags within another 3 years.

Share this post


Link to post
Share on other sites

Create an account or sign in to comment

You need to be a member in order to leave a comment

Create an account

Sign up for a new account in our community. It's easy!

Register a new account

Sign in

Already have an account? Sign in here.

Sign In Now
Sign in to follow this  

  • Recently Browsing   0 members

    No registered users viewing this page.

  • The Prime Minister stated that there were three Brexit options available to the UK:   215 members have voted

    1. 1. Which of the Prime Minister's options would you choose?


      • Leave with the negotiated deal
      • Remain
      • Leave with no deal

    Please sign in or register to vote in this poll. View topic


×

Important Information

We have placed cookies on your device to help make this website better. You can adjust your cookie settings, otherwise we'll assume you're okay to continue.