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Income Tax

Volume 986: debated on Friday 20 June 1980

The text on this page has been created from Hansard archive content, it may contain typographical errors.

asked the Chancellor of the Exchequer, further to his reply to the hon. Member for Norfolk, North, Official Report, 23 May, column 467, if he will now list the 10 countries with the highest top rates of income tax, including investment incomes.

The information available is given in the table below :

TEN COUNTRIES WITH HIGHEST TOP RATES OF INCOME TAX ON INVESTMENT INCOME
Including local income tax
Per cent.
Tanzania95·0
Japan9·30
Libya92·5
Sweden85·0
Portugal84·9
Algeria83·6
Jamaica80·0
Belgium76·3
Italy76·2
United Kingdom75·0
Excluding local income tax
Per cent.
Tanzania95·0
Libya92·5
Portugal84·9
Algeria83·6
Jamaica80·0
Japan75·0
United Kingdom
Belgium
India72·0
Italy
Netherlands

Notes :

  • 1. The rates given are drawn from those countries for which information is available and for the latest financial year for which we have data.
  • 2. All rates relate to investment income.
  • 3. The local income taxes which have been taken into account are as follows :
    • Belgium and Japan : The rates which apply to the majority of the population.
    • Italy : The universal rate of local income tax. Sweden : The Stockholm rate.