Taxes In Your Country? How Much Do You Pay?

[Gerardas Norkus]

Hey,

I wonder how much taxes are you paying to the Government in your country?

I live in Lithuania and I have to pay about 20% to my Government each year including social and health taxes.

For some of my sites I spend about 50% of income for advertising. So, I am left with about 30% income after paying the taxes.

What about you?

Thanks.

Gerardas

[Ron Razor]

Well, if you spend 50% on advertising you deduct that from your total revenue before you pay taxes. So it would deduct 20% from the 50%, which is really only 10%. That means you would be left with 40% after taxes.

[francof]

Roughly 35% and it sucks... but really gov taxes everything up the ying yang here... so overall we easily give 50% to the gov of what we earn here in good ol' Canada. Most of it is because of lax requirements for social programs like unemployment and social security.
Both systems are way too generous and grossly abused by a large number of people -either ouright fraud or just abuse like a lot of people will just work long enough to qualify for unemployment and just live on that until it expires and then find work again just enough to qualify and then the same cycle repeats itself.

As for fraud, it's way too common and they're not doing much to stop it. There are more social security checks issued every month than there are adults living in Canada. Doesn't take einstein to figure out something's wrong there.

It sucks for people like us who have aspirations to become more than a social leech... cause we have to pay for all those scammers and losers taking advantage of the system.... it's expensive to be honest in Canada, cause that's the only people they can get to pay for it all.

Anyways, see what you started with a simple question That's my rant for the week

[SeanSupplee]

Uh I am going to go with "TOO MUCH!!!!" Take everything I make online and cut it in half its depressing lol

[Zach Booker]

Originally Posted by francof

Both systems are way too generous and grossly abused by a large number of people

Yes, sir.

[Gerardas Norkus]

Originally Posted by francof

Roughly 35% and it sucks...

Hm, and I thought the situation with the taxes were better in other countries...

[STKING]

Hey, here in the US we pay about 50% as well. Most payroll deductions are anywhere between 20-35%, then add 8-10% sales tax on anything you buy.
Property taxes (a few thousand per year)
So...yep over 50% goes to our government and they still can't manage it.

You ever wonder why Americans are in so much debt....we take after our government!

[Bev Clement]

Hong Kong 2% - 16%

[TelegramSam]

If you really want to get screwed then try the UK.

Corporation Tax
VAT
PAYE
NI
Council Tax
Fuel duty
Petrol tax

You name it, they have a tax for it.

They are now trying to find a way to tax individuals who sell some of their private stuff at car boot sales, even though they usually sell it dirt cheap at a loss!

I think they are going to tax the car boot sale organisers even more or something.

They don't call it Rip Off Britain for nothing!!!

[Bev Clement]

Sam you forgot Inheritance Tax, Capital Gains Tax, stamp duty.

VAT on luxury items, like loo rolls, soap and other basic products we need to have.

[Kenneth L]

The tax system in Britain sucks!

Income tax is high, then there's National Insurance plus HUGE stealth taxes.

I wish they would make a system that was a simple flat-rate tax.

[TelegramSam]

Originally Posted by Kenneth Rearden

The tax system in Britain sucks!

Income tax is high, then there's National Insurance plus HUGE stealth taxes.

I wish they would make a system that was a simple flat-rate tax.

Agreed Ken,

But that rate would be about 80% !!!

[Alan Mc Donald]

in ireland a sole trader pays about 50% tax, if you go over a certain income you really get hammered for much more and these rates are due to go up in december.

[Don Schenk]

[QUOTE=NathanFalkner;1323250]

Property taxes are likewise extremely variable across
the United States, and do not apply at all to the
millions of people who do not own property.

QUOTE]


Actually most people who do not own property wind up paying property taxes because successful landlords will build the taxes into rent the tenants pay.

:-Don

[StevenSaliba]

Why can't our government just leave us alone and let us keep all of the income we make online? The government always wants a cut. We are selling products/services all over the world anyway. We should get a petition going. Maybe that will lower some taxes.

[shaddai]

Hehehe...I don't think a petition is gonna do much. Sure, a voter's initiative will hit the books and bind the hands of the politicians from raising taxes without voter approval...like Washington state is doing.

Of course, once that happens the govt will just stop calling them taxes & dream some other name up for it.

[ForeignProfessor]

I currently pay about 10% of my income on taxes which includes health insurance, income tax and pension fund here in South Korea. Much better than in the UK (where I'm from). I guess I pay sales tax too when I buy stuff.. I think that's maybe about 10%.

[tommen]

Are the taxes lower if you have a business, and not take everything as personal income? If you have a business you can write off some taxes.

[troy23]

It depends on how much you are earning. The tax people are not interested in small amounts.

[Randy Meirndorf]

I personally pay about 7 percent, here in America. But I run my business from home, and claim portions on my living costs before taxes, as most people with jobs pay them with after tax dollars. And I depreciate equipment such as my computer, camera etc that carries over for 7 years, reducing my taxable income.

And I use my company as an investment vehicle, so most surplus money is put into income producing assets, and not taxed as well.

[Chris Worner]

here down under, maximum rate is at 45%, not only that, the usual stuff as well, property, land, goods and services tax (GST) ETC.........

The best place for tax I believe is Russia its like a flat rate of 13% but I here that Macao is pretty good as well.

Monaco doesn't even have personal income tax at all from what I understand.

I believe in Denmark, the maximum rate is 75% for anything over $4 million

[hotftuna]

Taxes in the US are high. Th real problem is that when the bush tax cuts expire next year, they will go up. If that was not bad enough, we have a bunch running this country now that have plans on increasing them on top of that.

[BIG Mike]

Way too much...paying taxes in Greece and US - just enough left over for a cold one, LOL.

[Sumit Menon]

Originally Posted by BIG Mike

Way too much...paying taxes in Greece and US - just enough left over for a cold one, LOL.

lol.. So, how much income do you really get to keep?

Sumit.

[Thomas]

Originally Posted by BIG Mike

Way too much...paying taxes in Greece and US - just enough left over for a cold one, LOL.

You'll have to bite the bullet and become a proper Greek, Mike. Otherwise, Uncle Sam is going to hang on to you like a jilted-lover-turned-stalker. And he ain't never gonna let you go...

[Gerardas Norkus]

Originally Posted by Ron Razor

Well, if you spend 50% on advertising you deduct that from your total revenue before you pay taxes. So it would deduct 20% from the 50%, which is really only 10%. That means you would be left with 40% after taxes.

Unfortunately, in my country I have a couple of options: either to deduct the advertising from my total revenue and pay 30% taxes if I'm not mistaken, or I pay 15% for my total revenue + social and health taxes.

Thank you all guys for the input, it seems that the situation is not the worst in my country.

[BIG Mike]

Originally Posted by Sumit Menon

lol.. So, how much income do you really get to keep?

Sumit.

After Uncle Sam, Mr Karmanilis and Mrs. Kotzakoliou take their respective shares, just enough for a cold one

[BIG Mike]

Originally Posted by Thomas

You'll have to bite the bullet and become a proper Greek, Mike. Otherwise, Uncle Sam is going to hang on to you like a jilted-lover-turned-stalker. And he ain't never gonna let you go...

No kidding - NY State is even worse...last place I lived in the US and 8 years later they're still trying to collect income taxes claiming I'm a resident. But they wouldn't renew my driver's license because the NY DMV says, I'm not a resident. Go figure

[Damien Roche]

Second 'Britain sucks' on the tax front. Not sure why because they're scaring away all the good earners...which is what I assume in my simple little mind.

Economy is in a downturn, what economy?

[bluewillow]

Gee, that would mean we would have to get rid of the nanny-state. As long as we keep electing Progressives (Mostly, but not entirely, leftist Democrats. There are some Repubs in this group, too.), that will never go away. The Progressives have been in charge in Michigan for years, and now they have houses that are only worth $7,000(not a typo), and really high unemployment. California is going that way, New York and New Jersey are going that way. Progressivism means less prosperity for everyone. Sorry. I got on my soapbox. Enough of that.

[bluewillow]

Originally Posted by skyfox7

here down under, maximum rate is at 45%, not only that, the usual stuff as well, property, land, goods and services tax (GST) ETC.........

The best place for tax I believe is Russia its like a flat rate of 13% but I here that Macao is pretty good as well.

Monaco doesn't even have personal income tax at all from what I understand.

I believe in Denmark, the maximum rate is 75% for anything over $4 million

Monaco sounds like a good place to me. Scratch Denmark.