Q:

Is income tax calculated in the same way for every country?

A:

Quick Answer

Income tax is not calculated the same way in every country, according to PBS.org. In fact, a study on income tax rates in developing nations by the Organization of Economic Cooperation and Development revealed that there is a great difference in the amount paid by workers.

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Is income tax calculated in the same way for every country?
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Full Answer

Of the 36 countries studied, the highest rate of income tax paid was revealed to be 56 percent, and the lowest was 7 percent, with the United States ranking in the lower half with a rate of approximately 25 percent, reports PBS.org. The difference in tax rates is partly due to how countries finance certain social services such as health care and other social security programs through the public sector, while others do not.

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