10 Countries With The Highest Tax Rates In The World

9. Italy

Combined personal, corporate, VAT, GST and sales tax average: 37.28%

Italy is both Mediterranean and Alpine country which occupies the Apennine Peninsula. More than 60 million people call ancient Rome’s center provinces home. The Italian economy is an eighth largest economy in the world by nominal GDP and that allows its government to get away with high taxes. Personal income taxes in the birthplace of the Renaissance range from 44.1 to 51 percent while corporate taxes have slightly wider range, between 31.4 and 53.2 percents. With VAT being 22%, average tax rates in Italy are 37.28 percents.

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