20 OF THE HIGHEST TAX COUNTRIES IN THE WORLD
This article will look at 20 high-tax countries and suggest at the bottom of the article how you can change your residency, to pay less tax.
The article looks at both direct, and indirect taxes, top and lower rates of tax. It focuses on individual tax, and not rates for corporations.
For those interested in second residencies, or financial services advice more generally, you can email me (advice@adamfayed.com).
In no particular order, we start the list at number 1.
- Portugal
Portugal is a country well known for the Port Wine, Beaches, Food, and famous athlete Cristiano Ronaldo. It is also famous for the taxation it imposes upon its residents.
The tax rate in Portugal can go up to 61%, but it is also possible to live tax free for 10 years, as a resident.
Real Estate Tax is applicable in the form of Property Tax and Transfer Taxes. In the year 2016, Portugal has added an additional 3.5% tax for the individuals whose income is more than the minimum wage.
Given below are the general tax rates applicable to the residents of Portugal.
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