7 Nations with Low Income Tax Rates

The top rate of U.S. income tax is relatively high compared to international standards.  The previous 35% top rate of income tax increased to 39.6% for individuals with at least $400,000 of taxable income. Most countries fall below that, but Western Europe has the highest personal tax rates in the world with an average top rate of 46%.

In 2011, almost 4% of the American population moved to a different country and 1,800 people renounced their citizenship because the United States still taxes its citizens on income they’ve earned while living abroad. The Wall Street Journal lists the top 7 nations for dodging income tax: 

1. Czech Republic: 15%

2. Costa Rica: 15%

3. Hong Kong: 15%

4. Singapore: 20%

5. Jamaica: 25%

6. St. Kitts and Nevis: 0%

7. Cayman Islands: 0%

See 7 Top Nations for Dodging Taxes a la Depardieu, The Wall Street Journal, Jan. 9, 2013.