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By 1897, Denmark's income tax encompassed 15.00% [3] of the state's total revenue, far surpassing any other European country at the time. From 1897 to the present, Denmark continued to boast exceptionally high income tax rates, never dropping below the top five countries in Europe in terms of percentage revenue earned from income taxes. [3]
6.9% (for minimum wage full-time work in 2024: includes 20% flat income tax, of which first 7848€ per year is tax exempt for low-income earners + 2% mandatory pension contribution + 1.6% unemployment insurance paid by employee); excluding social security taxes paid by the employer
The average marginal tax on personal capital income was 30.7%. [89] Professor of Economics at Princeton University Henrik Kleven has suggested that three distinct policies in Denmark and its Scandinavian neighbours imply that the high tax rates cause only relatively small distortions to the economy:
The Earned Income Tax Credit dropped from $1,500 to $560 for taxpayers with no children The Child and Dependent Care Credit saw a significant drop, returning to $3,000 from the enhanced level of ...
The quoted income tax rate is, except where noted, the top rate of tax: most jurisdictions have lower rate of taxes for low levels of income. Some countries also have lower rates of corporation tax for smaller companies. In 1980, the top rates of most European countries were above 60%. Today most European countries have rates below 50%. [1]
The tax percentage for each country listed in the source has been added to the chart. According to World Bank , "GDP at purchaser's prices is the sum of gross value added by all resident producers in the economy plus any product taxes and minus any subsidies not included in the value of the products.
Denmark will tax livestock farmers for the greenhouse gases emitted by their cows, sheep and pigs from 2030, the first country in the world to do so as it targets a major source of methane ...
Denmark’s government on Thursday proposed imposing an average tax of 100 Danish krone ($14.35) on air travel to help finance a green transition of the airline industry that will enable all ...