Country

Maximum income tax rate

Albania

23%

Andorra

10%

Armenia

22%

Austria

55%

Belgium

50% (excluding 13.07% social security paid by the employee and also excluding 32% social security paid by the employer)

Bosnia and Herzegovina

10%

Bulgaria

40.8% (10% income tax + additional 12.9% by the employee for social security contributions, i.e. health insurance, pension and unemployment fund); and additional 17.9% by the employer for various social security contributions)

Croatia

business) 40% (excluding 35.2% total sum of insurances levied on income)

Cyprus

35%

Czech Republic

53.5% (15% income tax + 6.5% by employee + 25% by employer (2.3% healthcare + 21.5% social security + 1.2% state policy of employment) + 7% solidarity contribution (assuming income is above 1 277 328 CZK per year))

Denmark

56% (including 8% social security paid by the employee but excluding 0.42–1.48% church tax imposed on members of the national Church of Denmark)

Estonia

57.8% (20% income tax + 2.4% of unemployment insurance tax, 0.8% paid by employer, 1.6% paid by employee and 33% social security which is paid before gross wage by employer), around 57.8% in total

Finland

67% to 25% depending on the net income and municipality, including 7.8% social insurance fees, employee unemployment payment and employer unemployment payment

France

49% (45% + 4% for annual incomes above 250,000€ for single taxpayers or above 500,000€ for married couples) + social security and social contribution taxes at various rates, for example 17.2% for capital gains, interests and dividends.

Germany

47.475% which includes 45% income tax and 5.5% solidarity surcharge based on the total tax bill for incomes above 256,304€. The entry tax rate is 14% for incomes exceeding the basic annual threshold of 9,000€.

Georgia

20% (Special tax rates for Small Businesses are applied following approval of the Small Business Status: 1%, On turnover up to 500,000 GEL per year, Or 3%, applied to the portion of gross revenue that exceeds 500,000 GEL.)

Greece

65.67% (45% for >40,000€ + 7.5% Solidarity Tax for >40000€ + 26.95% Social Security for employees or up to 47.95% for private professionals)

Hungary

43.16% (employee: 33.5% of gross salary; employer: 17% in addition to gross salary (15.5% Social Tax, 1.5% Training Fund Contribution)

Iceland

36.94% from 0-834,707 and 46.24% over 834,707 kr

Ireland

40% over 34,550€ for single, 42,800€ for married taxpayers. Plus USC (Universal Social Charge) 4.5% on income up to 50,170€ and 8% on balance. Social insurance 4%

Isle of Man

20% plus national insurance of under 12.8%

Italy

45.83% (43% income tax + 2.03% regional income tax + 0.8% municipal income tax)

Latvia

20% (income tax), 35.09% (social insurance), total up to 55.09%

Liechtenstein

28% (max. 8% national and 20% municipal income tax) plus 4% of the taxpayer net worth is subject to the same rate as wealth tax. 0% on capital gains.

Lithuania

44.27% (effective tax rates: 34.27% social insurance (nominally it is 1.77% payable by employer + 19.5% payable by employee + from 1.8% to 3% optional accumulation of pence), 20% income)

Luxembourg

45.78% (42% income tax + 9% solidarity surcharge calculated on the income tax)

North Macedonia

37% (includes income tax 10%, mandatory state pension 18%, mandatory public health insurance 7.3%, mandatory unemployment insurance 1.2%, mandatory personal injury insurance 0.5%)

Malta

35% (additional 10% by the employee for social security contributions, i.e. health insurance, pension and education); and additional 10% by the employer for various social security contributions)

Monaco

Montenegro

12.65% (11% income tax + 15% of the income tax bill to the municipality)

Netherlands

49.5% (excluding discount for incomes up to 98,604€)

Norway

46.4% (53.0% including 14.1% social security contribution by employer. All taxes include 8.2% pension fund payments).

Poland

17% up to 120,000 zł, 32% above 120,000 zł (~25,000 euro)

Portugal

48% + 5% solidarity surcharge + 11% social security (paid by the employee) + 23.75% (social security paid by the company)

Romania

Employee: 41.5% – Gross incomes below RON 3,600 benefit from personal deductions of up to RON 1,310 from taxable income, employer: 2.25% (compulsory work insurance)

Serbia

52%

Slovakia

50% (income tax 19% + 25% for the part of annual income >35,022.31€; additional contributions at 4% mandatory health insurance by employee and 10% by employer, 9.4% Social Security by employee and 25.2% by employer)

Slovenia

50%

Spain

45% maximum Income tax rate. Not including employee contribution of 6.35% Social Security tax, 4.7% pension contribution tax, 1.55% unemployment tax, 0.1% worker training tax. Not including employer contribution of 23.6% Social security tax, 5.5% unemployment tax, 3.5% (or more) workers comp tax, worker training tax .06%, 0.2% FOGASA tax (employment tax in case of company bankruptcy).

Sweden

55.5% (not including payroll taxes of 31.42%)

Switzerland

22.5% (Kanton Zug, Gemeinde Walchwil) to 46% (Kanton Geneve), average rate 34%. These taxes do not include social security that is private and not income-based

United Kingdom

47% (45% income tax + 2% NI) – theoretically, NI could reach 12%, but in practice it is never combined with the higher income tax rate