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Which country does not have income tax?
I believe that is Switzerland.
Why income tax important for the government?
Income tax is very important for nation, development what ever any countries, when ever we don't pay income tax so then ever any country can't go a head. If we want to our country look like a heaven so we have to pay income tax. That's way government want income tax.
What country has less tax requirements?
The United Arab Emirates has no sales tax or income tax
Which country has the highest income tax rate?
As of 2005 The highest personal income tax in any country was Belgium at almost 56% If its corporate income tax you are asking about that would be Japan with the US ranked a close second around 38%-39%
Which country does not levy income tax or corporate tax?
All the Communist ones. Wonder why?
What is the income tax rate for real estate managers?
It depends on the tax laws of the country concerned
If you worked in another country do you have to pay income tax?
Yes. A US Citizen or resident alien you are required to report all of your gross worldwide income on your 1040 income tax return.
How much is personal income tax?
It Depends in which country the person makes this income. For UK it is 20% of income. But this vary from country to country and depends upon country`s legislatives. Is some countries it is quite low 8-10% of personal income.
Should the rich have to pay a greater portion of their income in taxes than the poor why or why not?
The rich do in fact pay a higher percentage of their income in income tax, because we have a progressive income tax based on six different tax brackets, where the higher your income is the higher a percentage tax bracket you will be in. Depends on which country you're in. In the US, this is not the case.
Income tax means?
Income tax is a government-imposed tax on the earnings or profits of individuals and businesses. Individuals pay income tax on their various sources of income, while businesses are taxed on their profits. The tax rate often depends on the amount of income or profit earned. Revenue generated from income tax is used by governments to fund public services like education, healthcare, and infrastructure. Tax laws and rates vary by country, and taxpayers are required to report their income and pay the appropriate tax based on their jurisdiction's tax regulations.
What is Before tax income after tax income?
Before tax income is gross income less allowable deductions and rebates = assessable income. After tax income is assessable income less the applicable income tax
How do you account for health insurance liability?
In your Income and Expenditure Account, show the Health Insurance premium paid by you as expenses and claim income tax rebate as permissible in Income Tax Act of your country.
