Moving abroad, whats the tax rates in your country.
Discussion
Over here in Bermuda, payroll tax is 5.5%, but the indirect taxes and other costs are rather high, rent is a killer. Still, its a balmy 68 degrees out there today in the middle of winter and I will be having lunch in the sun, so I'm not too unhappy with being here. I do miss the snow back home, well until it brings the country to a grinding halt anyway. Bermuda is not a cheap place to retire to...
Much more to it than income tax rates
USA 15% to 39.6%
Most States have their own income tax too.
No national Sales tax (equiv of VAT)
Each State sets its own rate between 0 & 8%
Some Cities slap a bit on top.
Real Estate Tax is a bugger in some States.
There is no Cap Gains allowance.
Not the land of milk and honey as is often portrayed.
USA 15% to 39.6%
Most States have their own income tax too.
No national Sales tax (equiv of VAT)
Each State sets its own rate between 0 & 8%
Some Cities slap a bit on top.
Real Estate Tax is a bugger in some States.
There is no Cap Gains allowance.
Not the land of milk and honey as is often portrayed.
Brief overview of NZ.
19% income tax up to 19,000, then 33%.
15% VAT on everything, no exceptions.
Council rates are generally probably slightly lower than UK
No capital gains tax - but such gains are frequently classed as income in NZ. (For example make a capital gain whilst in business and it classed as income and taxed accordingly).
The weather is better than UK.
19% income tax up to 19,000, then 33%.
15% VAT on everything, no exceptions.
Council rates are generally probably slightly lower than UK
No capital gains tax - but such gains are frequently classed as income in NZ. (For example make a capital gain whilst in business and it classed as income and taxed accordingly).
The weather is better than UK.
As stated before by others - take a 'holistic view'.
I am on 4th country, and so many factors to consider - tax is just a small issue.
Cars in Portugal are 2 or 3x UK prices....but income tax is only on locally earned income, so parked stuff offshore is 'tax free'.
Council tax for 4 bed 4 bath with 3 acres on the Algarve....EUR 188 each / year.
Depends really what assets you will have where you are going, income sources, hobbies, interests, lifestyle, etc. Also, how efficient you want to use tax saving jurisdictions (e.g. Cyprus), how you choose to Avoid (or Evade) Tax, etc.
BA
I am on 4th country, and so many factors to consider - tax is just a small issue.
Cars in Portugal are 2 or 3x UK prices....but income tax is only on locally earned income, so parked stuff offshore is 'tax free'.
Council tax for 4 bed 4 bath with 3 acres on the Algarve....EUR 188 each / year.
Depends really what assets you will have where you are going, income sources, hobbies, interests, lifestyle, etc. Also, how efficient you want to use tax saving jurisdictions (e.g. Cyprus), how you choose to Avoid (or Evade) Tax, etc.
BA
big ant said:
Cars in Portugal are 2 or 3x UK prices....but income tax is only on locally earned income, so parked stuff offshore is 'tax free'.
That is totally lax from the Portugeuse tax authorities point of view. I wonder how many Portugeuse politicians are exploiting that particular gaping hole in the legislation.If you're wanting just the tax rates (do consider other costs, etc. as mentioned above) this site should give you good idea on world tax rates http://www.taxrates.cc/index.html
Eric Mc,
I agree, Portugal doesn't seem to hep itself. Dreadful red tape for small or startup business. My working life has mainly been in Eastern Europe these last 20 years, and PT is far far worse.
Really frustrating, but they seem to have engineered their tax lawyers and business incentives....to actually reduce FDI, etc. I feel very sorry for the young here - their only hope, to leave the country.
BA
I agree, Portugal doesn't seem to hep itself. Dreadful red tape for small or startup business. My working life has mainly been in Eastern Europe these last 20 years, and PT is far far worse.
Really frustrating, but they seem to have engineered their tax lawyers and business incentives....to actually reduce FDI, etc. I feel very sorry for the young here - their only hope, to leave the country.
BA
If you are over 55 then in Malaysia there is no tax payable on any money made outside Malaysia, so if you set up your invetments somewhere where non resident income is untaxed you pay no tax. You can get a 10 year visa, tax free car, and buy a house freehold in your own name. You have to buy a house over 50,000 pounds, best deal I know of where houses are a decent cost and the sun shine. Google MMH2
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