Top Personal Income Tax Rates in Europe
Denmark (55.9 percent), France (55.4 percent), and Austria (55 percent) have the highest top statutory personal income tax rates among European OECD countries.
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Inflation and Europe’s Personal Income Taxes
With continued concerns over inflation, individuals may be wondering how their tax bills will be impacted. Less than half of OECD countries in Europe automatically adjust income tax brackets for inflation every year.
Top Personal Income Tax Rates in Europe
Denmark (55.9 percent), France (55.4 percent), and Austria (55 percent) have the highest top statutory personal income tax rates among European OECD countries.
Recent Changes in Top Personal Income Tax Rates in Europe
In the past three years, eight European OECD countries changed their top personal income tax rate, of which four of them cut their top personal income tax rates.
Top Personal Income Tax Rates in Europe
Most countries’ personal income taxes have a progressive structure, meaning that the tax rate paid by individuals increases as they earn higher wages. The highest tax rate individuals pay differs significantly across Europe, with Denmark (55.9 percent), France (55.4 percent), and Austria (55 percent) having the highest top statutory personal income tax rates among European OECD countries.
Recent Changes in Top Personal Income Tax Rates in Europe
Ten European OECD countries recently changed their top personal income tax rates. Of the ten countries, six cut their top personal income tax rates while the other four raised their top rates.
