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What about once you add local and state income taxes, and factor in other forms of taxation? Looking at National income taxes is only part of the story.
by LUmBULtERA 7y ago
What about once you add local and state income taxes, and factor in other forms of taxation? Looking at National income taxes is only part of the story.
- vmurthy 7y agoUh , if you’re talking personal income tax , we have only at a federal/national level
- LUmBULtERA 7y agoThat's my point -- it's not necessarily higher than the US after you consider the fact that in the US you will most often be paying other taxes as well.
- sgt 7y agoIt's India, not Indiana.
- sn41 7y agoThere are no state level income taxes in India, afaik. However, the Goods and Services Tax on many items is very high - 28%. So if you earn 100 rupees at the top slab, then you effectively have 58.3 after the income tax, and say you use it to buy some good at the highest GST bracket. You essentially can buy only worth Rs. 41.97. Add to this the fact that there are stiff tariffs for imported goods like iPhone, say for example, 20%. Then it comes down to Rs. 33.57 worth of purchasing power at the international level.