• Hi everyone! On the next list we´ll review those countries with the highest tax burden in the world. The reason why I chose this topic for the blog it´s because I live in Argentina, a country with a huge tax breakdown as a consequence of the failed Keynesianism policies applied in this and several nations of the region.
• The tax burden that these countries suffer are, in most occasion, the reasons why the economy crumbles. The government suffocates the private sector destroying production incentives and the process of capital accumulation.
• This next indexes are computed by the World Bank in its project Doing Business.
10- China:
The Asian country handles a total tax rate (% of commercial profits) of 68,5%.
9- Brazil:
The biggest south American country handles a total tax rate (% of commercial profits) of 69%.
8- Colombia:
“The Kings of coffee”, this country handles a total tax rate (% of commercial profits) of 69,8%.
7- Mauritania:
This northwest African country handles a total tax rate (% of commercial profits) of 71,3%.
6- Central African Republic:
Another African for this list, this country handles a total tax rate (% of commercial profits) of 73,3%.
5- Palau:
Here the Oceanic of the list, this country handles a total tax rate (% of commercial profits) of 75,4%.
4- Guinea Equatorial:
This country handles a total tax rate (% of commercial profits) of 79,4%.
3- Eritrea:
We arrived to the top three and this northeast African country handles a total tax rate (% of commercial profits) of 83,7%.
2- Bolivia:
The silver medal goes to this south American country that handles a similar total tax rate (% of commercial profits) than the last country, 83,7%.
1- Argentina:
And finally we arrived to the country with the highest taxes in the world. Argentina handles a total tax rate (% of commercial profits) of 106%. Unbelievable but yes, Argentina is a tax prison.
Alright everyone, I hope you had enjoyed this top ten list of the countries with the highest taxes of the world. If you have any idea of a top ten list subject, let me know at the comment section below. I will appreciate your support very much.
Thanks for your time.
Have a nice day.