Author Topic: Different Country Taxes  (Read 620 times)

123456

  • 5 O'Clock Shadow
  • *
  • Posts: 4
Different Country Taxes
« on: April 20, 2018, 04:29:04 PM »
I am from the United States and am wondering how taxes in different countries work. Can anyone offer personal insight on this?

daverobev

  • Magnum Stache
  • ******
  • Posts: 2969
  • Location: Canada
Re: Different Country Taxes
« Reply #1 on: April 20, 2018, 06:04:16 PM »
That's a really broad question.

I mean... most places have the same *kinds* of taxes. Income, corporation, capital gain - just different percentages.

Mostly the difference is in the brackets, and the number of layers. You, for example, have state as well as federal. Some places don't.

And of course then there are the other taxes - consumption, sales, 'value added'. Property tax.

Most places have roads, schools, governments both at the country, region, and city level.

The Canadian system is similar to the US, but with fewer schedules and loops.

The British system is much simpler from the taxpayer's perspective - there is only national tax, and there are only two (or three perhaps) tax brackets - and it is dealt with entirely by your employer, your bank. Most Brits do not file a return.

gaja

  • Pencil Stache
  • ****
  • Posts: 982
Re: Different Country Taxes
« Reply #2 on: April 21, 2018, 04:39:33 AM »
And then there are the differences in what taxes cover. In Scandinavia, higher education and health related costs are covered, but there are differences between the countries. In Sweden, toll roads are only put in to reduce traffic in rush hours, and car ferries are covered by income tax. In Norway, a large part of the cost of operating ferries and building roads are covered on a pay as you go base.

MustacheAndaHalf

  • Handlebar Stache
  • *****
  • Posts: 1150
Re: Different Country Taxes
« Reply #3 on: April 27, 2018, 09:09:32 AM »
Most countries tax you where you live: if you move from one country to another, only your new country taxes the income you earn there. The U.S. is almost unique in taxing the foreign income of people who move to other countries.  But to help with this unique burden, there's a significant tax exemption on foreign income.

GOFU

  • Stubble
  • **
  • Posts: 170
Re: Different Country Taxes
« Reply #4 on: May 06, 2018, 11:48:29 PM »
Taxes in other countries work in about a million different ways. Does that help?