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Are taxes really that high compared to other countries? India has a tax to gdp ratio of 10%, compared to 25% in the US and 40% in the EU. Maybe you are underest
by Joeri 6y ago
Are taxes really that high compared to other countries? India has a tax to gdp ratio of 10%, compared to 25% in the US and 40% in the EU. Maybe you are underestimating just how much taxes are required to fund an effective welfare state?
- rockyj 6y agoI'll leave it for you to judge - https://economictimes.indiatimes.com/wealth/tax/latest-income-tax-slabs/articleshow/62751981.cms?from=mdr https://economictimes.indiatimes.com/wealth/tax/latest-incom... 1 Lakh = 100,000 1 USD = 73 Rs. A mid-level manager / programmer would pay around 20-25% in taxes. Plus, Current GST (VAT) rate in India is 18% for goods and services like most countries. There are reduced rates 0%, 5% and 12% for some goods and services, and 28% luxury rate for some items. And finally, other tariffs on things like iPhone, computer parts, cars etc.
- sudosysgen 6y agoThat seems fairly low given the fact that a mid-level programmer is pretty fortunate relatively
- throwawy42434 6y agoI don't see where the welfare state is. - Public schooling, unusable. - Public health, unusable. - Public infrastructure, unusable. I have no clue where my taxes are going, but it sure as hell isn't being spent for "welfare".
- vinni2 6y agoAnd number of people evading tax is also significant. A lot of small and medium businesses don’t pay or pay very little income tax.