Special Report

25 Countries Where the Rich Are Taxed the Most

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16. China
> Personal income tax rate 2021: 45.00%
> Total population: 1,402,112,000

China has seven brackets of taxable income ranging from 0% (with a standard basic deduction) on the income at or below 36,000 renminbi ($5,636) to 45% for annual taxable income of 960,000 renminbi ($150,317). There are separate five-bracket tax rates for income from privately-owned businesses, sole proprietorships, and partnerships subject to progressive rates between 5% annual taxable income of 30,000 renminbi ($4,697) or less to 35% for income above 500,000 renminbi ($78,289).

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16. France
> Personal income tax rate 2021: 45.00%
> Total population: 67,391,582

France’s income taxes range from 0% to 45% with the highest rate applying to taxable income above 157,806 euros, or $179,002. There are additional social surtaxes on higher incomes that are determined by marital status and types of income, such as stock dividends.

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16. Germany
> Personal income tax rate 2021: 45.00%
> Total population: 83,240,525

Germany has four tax brackets with the highest rates applying to taxable annual incomes above 274,612 euros ($311,429) for singles and 549,224 euros ($622,858) for married couples. Germany also applies an income tax surcharge for improving regional economies and infrastructure, though that tax has been substantially reduced in 2021.

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16. South Africa
> Personal income tax rate 2021: 45.00%
> Total population: 59,308,690

South Africa has seven tax brackets, with 0% paid on the income at or below 216,200 rand ($13,783). Annual income above 1,656,600 rand ($1,878,460) is subject to the highest rate. There are no local income taxes, and South Africans receive credits for foreign taxes paid.

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16. United Kingdom
> Personal income tax rate 2021: 45.00%
> Total population: 67,215,293

The United Kingdom has four tax brackets, with the highest tax levied on taxable income above 150,000 pounds ($202,070). Income from annual dividends below 2,000 pounds ($2,695) is not taxed, but income above that threshold is considered “top slice” income and is taxed at the individual filers’ highest marginal tax rate.

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