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Denmark has a law that you can't be taxed more than 56% of your income. Then there is 25% VAT (sales tax), so if you're in the top bracket and spend your entire
by 0xfaded 7y ago
Denmark has a law that you can't be taxed more than 56% of your income. Then there is 25% VAT (sales tax), so if you're in the top bracket and spend your entire income you can theoretically be taxed 67%. Cars have a special 160% tax (you pay 260% of base price). And there's no capital gains loopholes. There's no payroll tax per se, but the employer contributes to a maternity/paternity fund in addition to some other small items.
It's very true that the Danes receive good free health care and have good universities, but the longer I live here the more I see that a huge amount of tax revenue is squandered on administration. I'm pro taxation, but it's hard to be exposed to such waste.