Austria
| Tax | Value |
|---|---|
| Corporate income tax | 25% Minimal annual contribution (can be recovered): • Private limited liability companies (GmbH): 1.750,- € • Public limited liability companies (AG): 3.500,- € • European public companies (SE): 6.000,- € • Financial institutions: 5.452,- € |
| VAT | 20% for most goods and services. Reduced rate of 10% applies to food, books, medications and property rental for residential use. A second reduced rate of 13% applies to certain live animals, animal fodder, stamps, entitlements to attend athletic events, accommodation and cultural services (for instance: movies, museums) etc. |
| Personal income tax | from 0 to 11.000 € - 0% from 11.000 up to 18.000 € - 25% from 18.000 up to 31.000 € - 35% from 31.000 up to 60.000 € - 42% from 60.000 up to 90.000 € - 48% from 90.000 up to 1.000.000 € - 50% over 1.000.000 € - 55% Example: If the income reaches 30.000 €, the personal income tax will be 5.950,- € (up to 11.000 – 0%, between 11.001 and 18.000 – 25 % = 1.750,- € , between 18.001 and 30.000 – 35% = 4.200,- €). |
| SS contributions, health insurance (employee) | 18,12% |
| SS contributions, health insurance (employer) | 21,48% |
| Tax on dividends (individuals) | 27,5% |
Belgium
| Tax | Value |
|---|---|
| Corporate income tax | 25% For SMEs: 20.40% on the first EUR 100.000 of profit |
| VAT | 21% for most goods and services; 12%, 6%, 0% for certain specified goods |
| Personal income tax | Up to €13,870 25% €13,870–24,480 40% €24,480–42,370 45% €42,370+ 50% |
| SS contributions, health insurance (employee) | 13.07% |
| SS contributions, health insurance (employer) | 27% |
| Tax on dividends (individuals) | 30% (rate can be lower for certain financial products) |
| * The real corporation tax rate is usually much lower than the nominal corporate tax rate due to various tax incentives (such as notional interest deduction, tax shelter for audiovisual productions, various incentives for research and development, etc. For more information visit: https://www.flandersinvestmentandtrade.com/invest/en/investing-in-flanders/tax/belgian-tax-system-reformed-discover-benefits-your-flanders-based-business Source: www.taxsummaries.pwc.com/belgium/ (Updated February 2022) |
Canada
| Tax | Value |
|---|---|
| Corporate income tax | Federal Rate1 38.00% Abatement (-10.00%) Rate reductions (-13.00%) Gross Federal CT Rate 15.00% Provincial / Territorial Rates British Columbia 12.00% Alberta 8.00% Saskatchewan 12.00% Manitoba 12.00% Ontario 11.50% Québec 11.50% New Brunswick 14.00% Nova Scotia 14.00% Prince Edward Island 16.00% Newfoundland & Labrador 15.00% Yukon 12.00% Northwest Territories 11.50% Nunavut 12.00% |
| VAT | British Columbia (GST + PST) 5.00% + 7.00% = 12.00% Alberta (GST) 5.00% Saskatchewan (GST + PST) 5.00% + 6.00% = 11.00% Manitoba (GST + PST) 5.00% + 7.00% = 12.00% Ontario (HST) 13.00% Québec (GST + QST) 5.00% + 9.975% = 14.98% New Brunswick (HST) 15.00% Nova Scotia (HST) 15.00% Prince Edward Island (HST) 15.00% Newfoundland & Labrador (HST) 15.00% Yukon (GST) 5.00% Northwest Territories (GST) 5.00% Nunavut (GST) 5.00% |
| Personal income tax | Federal Rates3
Procinvial rates Varies between 5.05% and 21.8% on the portion of taxable income, depending on province/territory and income. |
| SS contributions, health insurance (employee) | Canada Pension Plan 5.1% of salary for both employers and employees. Rates differ slightly for Quebec. Employment Insurance (EI) EI premiums are calculated at 1.62% on earnings up to C$53,100 (maximum of C$860.22). Rates differ slightly for Quebec. Québec Pension Plan 6.15% of salary for both employers and employees. Québec Employment Insurance 1.20% of salary for employees. |
| SS contributions, health insurance (employer) | Canada Pension Plan 5.1% of salary for both employers and employees. Rates differ slightly for Quebec. Employment Insurance (EI) Employer premiums are calculated at 1.4 times the amount of employee premiums (up to C$1,204.31). Québec Pension Plan 6.15% of salary for both employers and employees. Québec Employment Insurance 1.68% of salary for employers. Workers Compensation (WCB) Paid by Employer only Rate Average (varies by profession): $1.37 on every $100 of insurable earnings Maximum Contributable Earnings: $102,800 |
| Tax on dividends (individuals) | When a shareholder receives a dividend, they have to declare the dividend on their income tax return. For 2021, non-eligible and eligible dividends from Canadian corporations are grossed up by 15% and 38%, respectively, for inclusion in income. A federal tax credit can then be claimed for 9.03% (non-eligible) or 15.02% (eligible) of the grossed-up dividend, in addition to a provincial or territorial tax credit. |
| 1 A federal abatement and a rate reduction are also deducted from the federal tax rate. In addition to the federal rate, provincial rates must be added. 2 In Canada, there are two types of sales taxes levied. These are:
3 In addition to the federal rate, provincial rates must be added. |
Czech Republic
| Tax | Value |
|---|---|
| Corporate income tax | 19% |
| VAT | 21% (basic) for most goods and services; 15% for certain specified supplies (heating, cooling and goods specified by law on VAT); 10% for goods specified by law on VAT |
| Personal income tax | 15 % (20 % for higher incomes) |
| SS contributions, health insurance (employee) | 6,5 % |
| SS contributions, health insurance (employer) | 24,8 % (2,1 % for health insurance, 21,5 % for pensions, 1,2 % for unemployment) |
| Tax on dividends (individuals) | 15% |
Estonia
| Tax | Value |
|---|---|
| Corporate income tax | 20% (not applicable to retained and reinvested corporate profit) |
| VAT | 20% for most goods and services; reduced rate 9% and 0% in some cases |
| Personal income tax | 20% (basic tax exemption is EUR 0-6,000 per year, depending on the level of income) up to 500 EUR in a month and up to 6000 EUR in the year, but decreasing depending on the total income amount. If total amount of all income is 25 200 EUR in a year or more, there is no right to basic exemption at all. |
| SS contributions, health insurance (employee) | employee 1.6% + employer 0.8% |
| SS contributions, health insurance (employer) | 33% (20% for social security and 13% for health insurance) |
| Tax on dividends (individuals) | 20% (not applicable if stays on investment account) |
| More information: https://investinestonia.com/business-in-estonia/taxation/ |
Ireland
| Tax | Value |
|---|---|
| Corporate income tax | 12.5% trading income; 25% non-trading income |
| VAT | Standard rate is 23%, however certain goods and services have rates of 13.5%, 9%, 4.8% and 0%. |
| Personal income tax | 0% on income up to a limit determined by the individual's tax credits and allowances, 20% on balance up to €36,800 (single person) / €45,800 (married couple with one income) / €73,600 (married couple, two incomes) / €40,800 (one-parent family); 40% on balance. |
| SS contributions, health insurance (employee) | Pay-Related Social Insurance (PRSI) and the Universal Social Charge (USC) are payable.
PRSI: 4% is typical though lower rates may apply, depending on the classification and income of employee. USC: 0.5% on income up to €12,012, 2% from €12,012 to €21,295, 4.5% from €21,295 to €70,044, 8% on balance (or up to €100,000 if income is from self-employment. 11% USC applied to income above €100,000 gained from self-employment). If income is less than €13,000, no USC is payable. |
| SS contributions, health insurance (employer) | 11.05% is typical though lower rates may apply, depending on the classification and income of the employee. |
| Tax on dividends (individuals) | 25% |
Lithuania
| Tax | Value |
|---|---|
| Corporate income tax | 15% |
| VAT | General rate is 21%, 9 %, 5 % and 0 % is applied to certain goods and services |
| Personal income tax | 20% rate is applied to income amounts not exceeding EUR 90,246 per calendar year in 2022 and at a 32% rate for the exceeding part for: employment-related income. payments to the members of the Board or Supervisory Board |
| SS contributions, health insurance (employee) | for sickness social insurance – 1.99%; for maternity social insurance – 1.81%; for health insurance – 6.98% |
| SS contributions, health insurance (employer) | 2,49% for fixed-term employment contracts and 1,77% for employment contracts of indefinite duration |
| Tax on dividends (individuals) | 15% |
Romania
| Tax | Value |
|---|---|
| Corporate income tax | 16% |
| VAT | 19% for most goods, 9% for certain goods (pharmaceuticals for human and veterinarian use, prostheses and orthopedic products, food and non-alcoholic beverages, water used for consumption and for agricultural irrigation, etc.), 5% for books, newspapers, admission to cinemas, museums, historical monuments, trade fairs and exhibitions, accommodation, restaurants, transport services for tourism or leisure purposes. |
| Personal income tax | 10% with some exceptions (e.g. the tax rate for dividends, the tax rate for income from the transfer of immovable property, the tax rate for income from gambling activities depends on the income level). |
| SS contributions, health insurance (employee) | Social insurance contribution: 25%; health insurance contribution: 10%. |
| SS contributions, health insurance (employer) | Social insurance contribution: for particular working conditions 4%, for special working conditions 8%, for normal working conditions 0%; labor insurance contribution: 2.25%. |
| Tax on dividends (individuals) | 5% |
Spain
| Tax | Value |
|---|---|
| Corporate income tax | General rate 25% . Reduced tax rates are applied in certain cases and certain activities, including those relating to R&D and technological innovation. |
| VAT | General rate is 21% for most goods and services. The reduced rate: 10%. The super reduced rate: 4%. In the Canary Islands, a specific tax is applied instead of VAT, called the Canary Island General Indirect Tax (IGIC). The ordinary IGIC rate is 7%, and the other IGIC rates are 0%, 3%, 9.5%, and 15% (20% for tobacco). In Ceuta and Melilla, sales tax is applied instead of VAT. |
| Personal income tax | Tax rates in Spain are not uniform across the country. Basic income tax rates: Up to 12.450 € - 19% from 12.450 € up to 20.200 € - 24% from 20.200 € up to 35.200 € - 30% from 35.200 € up to 60.000 € - 37% from 60.000 € up to 300.000 € - 45% over 300.000 € - 47% |
| SS contributions, health insurance (employee) | 6.35% |
| SS contributions, health insurance (employer) | 29.90%, plus a variable rate for occupational accidents (e.g. 1.5% for office work). |
| Tax on dividends (individuals) | from 0 to 6.000 € - 19% from 6.000 € up to 50.000 € - 21% from 50.000 € up to 200.000 € - 23% over 200.000 € - 26% |
| More information: http://www.investinspain.org |