10 Countries With The Highest Tax Rates In The World

5. Chad

Combined personal, corporate, VAT, GST and sales tax average: 39.33%

Chad is the only African and non-European country (for that matter) on our list of 10 countries with the highest tax rates in the world. Almost 11 million people live in Chad which is fifth largest African country. Chad’s economy doesn’t rate nearly as high as those of European countries from this list, but country’s taxes certainly manage to stand toe to toe with that of European countries. VAT is 18% which might be on par with  Europe, but is still rather high for Africa. Same goes for personal income taxes which are among highest in the world – 60 percent in both minimal and maximum cases. Corporate taxes are also nicely rounded – 40 percent no matter how much a company earns and the average of 39.33 percents doesn’t come as a surprise considering all of the above.