I-T rate in India and around the world

A country's personal income tax rate is only one indicator of how much tax an individual actually ends up paying on their income, according to a report by KPMG.

"Our broader analysis further emphasizes the point that other taxes and the impact of deductions clearly need to be considered... Interestingly, the difference between top tax rates and effective combined tax and employee social security rates shows that neither of the two countries with the largest top marginal tax rates (Aruba and Sweden) feature among the top five countries when we use either $100,000 or $300,000 as a basis for comparison," write the authors.

For someone with a gross income of $100,000 a year, these are some of the countries in which they would have to shell out the most for, tax and social security combined. The United States is much further down the list, being the 55th most expensive country on the list, according to Business Insider.

Let's take a look at effective income tax and Social Security rates on $100,000 of gross income around the world, including India.

Source: Business Insider

...

Belgium

Effective income tax rate: 33.9 per cent

Effective employee social security rate: 13.1 per cent

Global rank: 1

...

Greece

Effective income tax rate: 30.0 per cent

Effective employee social security rate: 16.5 per cent

Global rank: 2

...

Croatia

Effective income tax rate: 26.8 per cent

Effective employee social security rate: 19.5 per cent

Global rank: 3

...

Italy

Effective income tax rate: 35.6 per cent

Effective employee social security rate: 9.6 per cent

Global rank: 4

...

Germany

Effective income tax rate: 28.3 per cent

Effective employee social security rate: 15.5 per cent

Global rank: 5

...

Denmark

Effective income tax rate: 42.1 per cent

Effective employee social security rate: 0.2 per cent

Global rank: 6

...

Curacao

Effective income tax rate: 38.6 per cent

Effective employee social security rate: 3.4 per cent

Global rank: 7

...

France

Effective income tax rate: 20.0 per cent

Effective employee social security rate: 22 per cent

Global rank: 8

...

Senegal

Effective income tax rate: 42.0 per cent

Effective employee social security rate: 0.0 per cent

Global rank: 9

...

Sint Maarten

Effective income tax rate: 37.4 per cent

Effective employee social security rate: 3.1 per cent

Global rank: 10

...

Luxembourg

Effective income tax rate: 27.9 per cent

Effective employee social security rate: 12.5 per cent

Global rank: 11

...

The Netherlands

Effective income tax rate: 28.5 per cent

Effective employee social security rate: 11.8 per cent

Global rank: 12

...

Portugal

Effective income tax rate: 28.9 per cent

Effective employee social security rate: 11.0 per cent

Global rank: 13

...

India

Effective income tax rate: 27.3 per cent

Effective employee social security rate: 12.0 per cent

Global rank: 14

...

Norway

Effective income tax rate: 31.3 per cent

Effective employee social security rate: 7.8 per cent

Global rank: 15

...

Brazil

Effective income tax rate: 27.5 per cent

Effective employee social security rate: 11.0 per cent

Global rank: 16

...

Austria

Effective income tax rate: 24.4 per cent

Effective employee social security rate: 14.0 per cent

Global rank: 17

...

Finland

Effective income tax rate: 30.3 per cent

Effective employee social security rate: 7.7 per cent

Global rank: 18

...

Bosnia and Herzegovina

Effective income tax rate: 6.5 per cent

Effective employee social security rate: 31.0 per cent

Global rank: 19

...

Sweden

Effective income tax rate: 36.3 per cent

Effective employee social security rate: 0.0 per cent

Global rank: 20

...

Ireland

Effective income tax rate: 32.0 per cent

Effective employee social security rate: 4.0 per cent

Global rank: 21

...

Latvia

Effective income tax rate: 25.0 per cent

Effective employee social security rate: 11.0 per cent

Global rank: 22

...

Guatemala

Effective income tax rate: 31.0 per cent

Effective employee social security rate: 4.8 per cent

Global rank: 23

...

Turkey

Effective income tax rate: 29.8 per cent

Effective employee social security rate: 6.0 per cent

Global rank: 24

...

Poland

Effective income tax rate: 27.9 per cent

Effective employee social security rate: 7.4 per cent

Global rank: 25

...

Spain

Effective income tax rate: 32.0 per cent

Effective employee social security rate: 3.3 per cent

Global rank: 26