Tax payers play a vital role in shaping up the economy of any country. The maximum rate of personal income tax in India is 33.99%, which is a part of our income that directly goes to the government.
Of course, most of us are not happy with the amount that we pay as tax every year. But have you ever thought, what could have happened had we chosen to stay in countries other than India?
Taking a base amount of Rs 10 lakhs, here is the list of the take home along with the percentage of personal income tax rate across the globe.
In Japan, you can take home Rs 4,91,600.
In USA, your take home amount will be Rs 604000.
In China, your take home amount will be Rs 5,50,000 .
In Ivory Coast, your take home amount will be Rs 400000.
In India, your take home amount will be Rs 660100.
So, residing in the above countries does not seem to be a good idea at all. But here is another list of countries where you might love to be a part of.
In Russia, your take home amount will be Rs 870,000.
In Mongolia, your take home amount will be Rs 900000.
Probably the tax rates of Russia and Mongolia will bring you a lot of joy.
But wait, do you know how much tax you have to pay in Saudi Arabia, Qatar and United Arab Emirates? It's Rs 0.