Guest

What's The Tax Code Like In Your Country?

Fri Jun 22, 2001 9:58 am

Out of curiosity, that kind of income taxes do you pay in your various countries? Here in the US I pay around 9% in fed. income tax, 6% Social Security, and 1% medicare tax.
 
N400QX
Posts: 1981
Joined: Sun May 06, 2001 9:51 am

RE: What's The Tax Code Like In Your Country?

Fri Jun 22, 2001 11:03 am

Its confiscatory here in the States.

Will explain later...
 
sccutler
Posts: 5567
Joined: Thu Jan 27, 2000 12:16 pm

Double That SS/Medicare (FICA)

Fri Jun 22, 2001 12:14 pm

You may think you pay 7.65% combined for SS and Medicare; actually, since your employer has to match it, you really pay 15.3%. That moolah's gotta come from somewhere!

And 400QX is right.
...three miles from BRONS, clear for the ILS one five approach...
 
Guest

RE: What's The Tax Code Like In Your Country?

Fri Jun 22, 2001 1:04 pm

Don't need to argue the point on Income tax with me. I voted almost a straight libertarian ticket in the last election. And as far as my employer matching my SS and Med.Care tax, I'm aware, although it's irrelevent since I'm not on salary and I don't believe my employer would be paying me that extra money if they eliminated SS and Medicare taxes. I posted this because I wanted to compare our so called "progressive" tax code to other countries out of morbid curiosity. I can almost predict 100% they'll all be higher, but I wanted hard numbers. Anyhow, feel free N400QX to elaborate for any of the other readers of this post (as I've seen many of your previous posts and they are well thought out, concise, and well argued), but I've been a libertarian for a while now, and I'd be the first one in line to burn the 16th amendment.
 
jwenting
Posts: 9973
Joined: Mon Apr 23, 2001 10:12 pm

RE: What's The Tax Code Like In Your Country?

Fri Jun 22, 2001 2:30 pm

Netherlands:
Income tax starts at around 35%, going up to about 55% as your income rises (used to be 70% until a few years ago).
Salestax 19% on most items.

Basic tax policy is to pluck the people until there is nothing left...
I wish I were flying
 
Guest

RE: What's The Tax Code Like In Your Country?

Fri Jun 22, 2001 3:39 pm

Thanks for the info Jwenting.
 
jwenting
Posts: 9973
Joined: Mon Apr 23, 2001 10:12 pm

RE: What's The Tax Code Like In Your Country?

Fri Jun 22, 2001 8:27 pm

no problem  Smile/happy/getting dizzy didn't include things like environmental taxes. Don't know the percentages on those, and what they are charged on.
I wish I were flying
 
Carioca Canuck
Posts: 632
Joined: Sun Apr 23, 2000 4:03 pm

RE: What's The Tax Code Like In Your Country?

Fri Jun 22, 2001 9:24 pm

46% of my last cheque dissapeared into that great unnacountable void called the government treasury.

Isn't Canada great !!!!!

10 months to go..................
 
JetService
Posts: 4611
Joined: Mon Feb 21, 2000 1:12 pm

RE: What's The Tax Code Like In Your Country?

Sat Jun 23, 2001 12:07 am

Indiana, USA

Federal Income Tax - 12%
Social Security Tax - 6%
Medicare Tax - 1.5%
Indiana State Income Tax - 3%
Allen County Income Tax - 1%
Total Tax - 23.5% of gross income

BTW, Indiana Sales Tax is 5%. Except groceries are not taxed. (Do all states do that?)

I may be moving into the 28% bracket this year. So I could be undertaxed. My tax refunds are typically around $2,000-3,000 a year, but I've always had a mortgage tax credit which gave me an automatic $1,000-1,500. I won't have that anymore since I purchased a new home. So I'm nervous about next April.  Smile/happy/getting dizzy
"Shaddap you!"
 
Guest

RE: What's The Tax Code Like In Your Country?

Sat Jun 23, 2001 8:51 am

JetService- Here in CA groceries are not taxed, but everything else is taxed. We have an 8% sales tax and a 34? cent gas tax, and all kinds of other nice little taxes the state of California likes to throw at we the consumers. Let's put it this way. I almost never get a bill (energy, phone, cable, etc...) that doesn't have a tax. Thanks for the info.
Carioca Canuck- thanks for participating in my little info exchange. I pity those that work half the year just to pay the government to flush it down the toilet. Me, I only work two months a year to pay the government to flush my money down the toilet.
 
airsicknessbag
Posts: 4626
Joined: Thu Aug 17, 2000 2:45 am

RE: What's The Tax Code Like In Your Country?

Sat Jun 23, 2001 8:11 pm


Hehe, about 75% of the world´s legislation are German tax laws (no joke!) - I guess this gives you an idea about how complicated our life is in fiscal terms...

Daniel Smile
 
Guest

RE: What's The Tax Code Like In Your Country?

Sun Jun 24, 2001 5:02 am

ASB- 75%. Huh. What kind of rates do you pay?
 
NoUFO
Posts: 7397
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RE: What's The Tax Code Like In Your Country?

Sun Jun 24, 2001 6:33 am

Airsicknessbag:
Hehe, about 75% of the world´s legislation are German tax laws (no joke!)

Ah .. uh-oh ... I seriously doubt it.

NoUFO
I support the right to arm bears
 
airsicknessbag
Posts: 4626
Joined: Thu Aug 17, 2000 2:45 am

RE: R.I.P. TWA, NoUFO

Wed Jun 27, 2001 10:27 pm


Well, the rates are up to 53% - the problem is exceptions, exceptions and exceptions; and exceptions from exceptions from exceptions; and a load of complicated by-laws...

about those 75% - I didn´t find out about that number myself (but I didn´t make it up either) - I read in some article.
 
ryanb741
Posts: 5058
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RE: What's The Tax Code Like In Your Country?

Wed Jun 27, 2001 10:33 pm

Here in the UK, income tax is as follows:

The first £4000(ish) of your salary is untaxed
From £4000-£10,000 you pay 10%
From £10,000-£28,000(ish) you pay 22%
Thereafter it's 40%

Additionally, you have to pay National insurance at 8.33% after the first £3,400 or so.

I used to think the brain is the most fascinating part of my body. But, hey, who is telling me that?
 
Guest

RE: What's The Tax Code Like In Your Country?

Thu Jun 28, 2001 7:21 pm

Interesting RyanB. Sounds like the US tax code, although your top rate starts at a slightly lower income category than here in the U.S. Thanks for the response.

ASB- 53%? I assume it's progressive, so is that the top income bracket, or the lowest?
 
airsicknessbag
Posts: 4626
Joined: Thu Aug 17, 2000 2:45 am

RE: R.I.P. TWA

Thu Jun 28, 2001 11:17 pm


Yes, it´s progressive, and 53% is the top income bracket. I have to admit, though, that I´m not that much of a tax law expert since I don´t pay taxes (except VAT Big grin).

Daniel Smile
 
Guest

RE: What's The Tax Code Like In Your Country?

Fri Jun 29, 2001 6:52 pm

Not looking for expert ASB, simply people who have a number to share. Thanks for the info. Can anyone top 53% as a top rate????? C'mon, I know that ain't the highest.
 
eg777er
Posts: 1782
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RE: What's The Tax Code Like In Your Country?

Sun Jul 01, 2001 1:50 pm

How does 0% grab you?

Ahh, the pleasures of living on an island in the Middle East.....
 
Guest

RE: What's The Tax Code Like In Your Country?

Sun Jul 01, 2001 7:00 pm

Grabs me just fine. And what island might that be?
 
L-188
Posts: 29881
Joined: Wed Jul 07, 1999 11:27 am

RE: What's The Tax Code Like In Your Country?

Sun Jul 01, 2001 7:07 pm

0% that would be nice.....

But is it worth it if you can't get a decent margarita on that island?
OBAMA-WORST PRESIDENT EVER....Even SKOORB would be better.
 
Guest

RE: What's The Tax Code Like In Your Country?

Sun Jul 01, 2001 7:18 pm

With no taxes I could afford to bring all the tequila, triple sec, and sweet and sour my stomach could handle.
 
eg777er
Posts: 1782
Joined: Fri Feb 04, 2000 11:11 pm

RE: What's The Tax Code Like In Your Country?

Sun Jul 01, 2001 7:53 pm

Well guys, let me enlighten you:

Island Name: Bahrain
Location: Off the East coast of Saudi Arabia
Status: Independent Sovereign State.

Alcohol: Freely available in hotels, restaurants, sports clubs, bars, nightclubs, private homes and available for anyone to purchase from retail outlets - i.e. the same as the rest of the world - you just don't get it in supermarkets!

Taxation: 0% income tax. 5% government levy on food in restaurants. BD 3 (US $9) every time you want to leave via the airport (how else?). Petrol at 40 cents/litre.

And a cracking airport as well - not as nice or big as Dubai, but you can get to London from here 3 times a day, non-stop. Amsterdam 1 x daily. Dubai millions of times.

Basically I live here for 5 months of the year - which isn't nearly enough!

Its 110 F at the moment though!
 
Guest

RE: What's The Tax Code Like In Your Country?

Sun Jul 01, 2001 7:59 pm

I suppose that's the luxury of living in a country that supports itself with oil money. Why levy taxes when you have more money than you know what to do with? Sounds pretty nice. Maybe I'll get a chance to visit some day. Egypt's as far East as I've gotten so far. Thanks for the info eg777.
 
eg777er
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Joined: Fri Feb 04, 2000 11:11 pm

RE: What's The Tax Code Like In Your Country?

Sun Jul 01, 2001 8:08 pm

Actually, Bahrain is the smallest of the Arab oil producers with only 400,000 barrels per day. Oil money certainly doesn't come into it.

On the contrary, they appreciate that taxes aren't the only way to get revenue. By having zero income taxes any company from any country can set up in Bahrain without a local partner, and this brings investment and jobs and consumer spending by rich first world nationals - far more than any taxes ever could.

Seeing as you're in LA, wait until Emirates start services LAX-Dubai in 2002 and get a Gulf Airpass and come up to Bahrain. I'm sure you'll be pleasantly surprised.

(PS - The Gulf isn't at all dangerous. Contrary to what the US State Department would have you believe - see my post on the 'Flag of USA' thread).
 
Guest

RE: What's The Tax Code Like In Your Country?

Sun Jul 01, 2001 8:24 pm

No, I've never thought that countries like Bahrain, U.A.E., Saudi Arabia were really dangerous at all. In fact, you're safer there than you are here (at least I'd think so looking at crime statisitcs.) Interesting side about Bahrain. I wasn't aware that they produced such little oil (that's relative of course). I guess my point would have been better made about Kuwait. They're the ones with more money than they know what to do with. Anyhow, LAX-DXB sounds like a lark, although I'm suprised they're opening such a lengthy route. Is it a non-stop or one stop at JFK?
Cheers.
 
eg777er
Posts: 1782
Joined: Fri Feb 04, 2000 11:11 pm

RE: What's The Tax Code Like In Your Country?

Mon Jul 02, 2001 12:54 am

It will be non-stop with the A340-500.

As for Kuwait, they do produce shitloads more oil than almost anyone else.

Consequently they have little need for expats and foriegn investment.

Consequently, you can't get a drink for love nor money!
 
Guest

RE: What's The Tax Code Like In Your Country?

Mon Jul 02, 2001 7:26 pm

Haha. That'd be true. Those tough islamic laws gosh darn-it. A340-500? That may be worth taking just to see the plane. What's Qatar like out of curiosity?
 
ryanb741
Posts: 5058
Joined: Thu Mar 28, 2002 6:36 pm

RE: What's The Tax Code Like In Your Country?

Mon Jul 02, 2001 7:34 pm

I have lived throughout the Middle East:

United Arab Emirates - (Dubai, Abu-Dhabi, Sharjah)
Bahrain - Manama
Iran - Tehran, Isfahan
Saudi Arabia - Riyadh

Love the place, great people.

BTW, Eg777er, is the British Club still going strong in Bahrain? I spent much of my early youth there with my parents.
I used to think the brain is the most fascinating part of my body. But, hey, who is telling me that?
 
Guest

RE: What's The Tax Code Like In Your Country?

Mon Jul 02, 2001 7:49 pm

In what year(s) did you live in Iran?
 
ryanb741
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Joined: Thu Mar 28, 2002 6:36 pm

RE: What's The Tax Code Like In Your Country?

Mon Jul 02, 2001 7:54 pm

I lived in Iran for about 8 months in total - we left in (I think) 1978, when I was about 18 months old, so as you can imagine my memories of Iran are a little hazy (although I went back about 4 years ago to Tehran). I'm pretty sure the reason we left in '78 was because of the Revolution.

All in all I spent the first 8 years of my life living throughout the Middle East.
I used to think the brain is the most fascinating part of my body. But, hey, who is telling me that?
 
Guest

RE: What's The Tax Code Like In Your Country?

Mon Jul 02, 2001 8:03 pm

Ah, I was wondering if you lived in Iran AFTER the revolution. Don't want to sound paranoid but I can't imagine Tehran was the friendliest place to be as a westerner. Still, I would love to visit more countries in the Middle East. The only one's I've visited were Egypt and Turkey, which probably aren't as representative as the Gulf nations. Sounds like you led an interesting early life.
 
ryanb741
Posts: 5058
Joined: Thu Mar 28, 2002 6:36 pm

RE: What's The Tax Code Like In Your Country?

Mon Jul 02, 2001 8:31 pm

I've been to Iran after the revolution (about 4 years ago) and was struck with how friendly everybody was (provided you respected the local customs). Middle Easterners are in general amongst the friendliest people you could hope to meet, it's just a shame that a lunatic minority of their brethren tarnish their reputation.
I used to think the brain is the most fascinating part of my body. But, hey, who is telling me that?
 
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juanchito
Posts: 1054
Joined: Sat Nov 11, 2000 2:35 am

RE: Double That SS/Medicare (FICA)

Mon Jul 02, 2001 10:27 pm

Here is a list of Taxes people pay in Guatemala

In every products IVA (tax) 10%
In hotels and airline ticketes Turism tax 10%
pay Social Security 3.83% of Salary
pay IRTRA (Recreational vacational center) 1% of Salary

we also pay anually tax depending of property like Cars, Homes, Boats, Airplanes, Buildings, lands, etc

I don't think I am missing something


juanchito
Fotografos de Aviacion de Guatemala. Spotter.
https://www.facebook.com/Fot%C3%B3grafo ... 661476921/
 
eg777er
Posts: 1782
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RE: What's The Tax Code Like In Your Country?

Tue Jul 03, 2001 1:29 pm

Yes, the Brit Club is still going strong. We stopped our membership about 5 years ago though as it started to get such a drag to have to trek into town just to go to the Club.

Now, everyone goes to the Dilmun Club or the Bahrain Rugby Club. They're in Saar you see, which is where all the Brits live.

British Club is quite snooty these days though. We've got a new magazine you see - 'Bahrain This Month' which is like the Tatler (photos of people's parties etc.) and there are cat-fights amongst the 'ladies who lunch' every month to get in it!

As for Qatar - by all accounts the place is a dump. They've got only 2 5* hotels, we've got 7, their airline sucks service-wise (GF is much better on service) etc.

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