Infographic Shows How Much Income Tax People Pay in the World’s Major Cities
You might want to think twice before complaining about your tax statement this year. While Americans, and New Yorkers especially, tend to think they’re coughing up a ludicrous amount of their salary to Uncle Sam, this infographic (h/t Business Insider) shows how much other major cities across the world pay in income tax and social security contributions. For example, income taxes in Copenhagen are at 44.7 percent and in Stockholm at 27 percent, while New York City is 13.8 . On the other end of the spectrum, the rate in Dubai, Buenos Aires, and Lima is 0 percent.
The infographic comes courtesy of UBS investment bank, whose recently published “Prices and Earnings” report tracks factors such as taxes, incomes, and working hours for international cities. To arrive at these figures, the firm looked at a select group of professions across the board, according to BI, using salaries of “department managers, hospital nurses, financial analysts, electrical engineers, construction workers, industrial technicians, female industrial workers, call centre agents, cooks, female sales assistances, public sector primary school teachers, product managers, secretaries, automobile mechanics, bank credit clerks and bus drivers.”
[Via Business Insider]
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