10 Countries With The Highest Tax Rates In The World

3. Finland

Combined personal, corporate, VAT, GST and sales tax average: 40.17%

Not counting Chad, Finland has the weakest economy (by nominal GDP) of all countries on the list. That’s mostly due to the fact that country only has 5.5 million inhabitants. However, this doesn’t mean that Finns have a lower quality of life compared to France, Germany or the UK, for instance. On the contrary, all Scandinavian countries are at least on par with other western European economies. Maximum percentage of both corporate and personal income tax in Finland is among highest in the world. The corporate tax ranges from 20 to 61.8 percents while personal income taxes vary between 49 and 62.2 percents. VAT is high as well with  24% and all these together make a total average of 40.17 percents.

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