Oh my god, a $100k salary would be taxes at 42%, plus a 25% VAT on general spending, that's just insane...
In the UK you pay 60% on anything between 100K and 125K, then it goes back to 40%. Above 150K it goes to 45%. This is only the income tax. National insurance would be 2% at those income levels.
Re:Europe's Software Problem
by mr_gibbins on Thursday June 17, 2021 @12:57PM
(#27541781)
Not to be a dick but what's your source on that? I understood it to be 40% up to 150k, not 60% as per https://www.gov.uk/guidance/rates-and-thresholds-for-employe...
In the UK you don’t pay taxes on the first 12500£ you earn in a tax year. This is the income tax allowance.
For each 2£ you earn above 100K, your income tax allowance is reduced by 1£. At 125K, your allowance reaches 0. The result is that between 100K and 125K your marginal tax rate is 60%. At 125K it goes back to 40%.
Re:Europe's Software Problem
by mr_gibbins on Monday June 21, 2021 @10:48AM
(#27579697)
Wow - thank you for this, TIL.
In Belgium, you can get to 50% tax on that 100K + 21% VAT on normal goods (6% on food).
Re:Europe's Software Problem
by originalvichy on Thursday June 17, 2021 @06:31AM
(#27538123)
The only "good" part is that even managers in the Nordics have the same work-life expectations as the workers. Of course there are some managers who take work home more than others but unless you are in the C-level you can tell anyone who tries to make you work more than the usual 37,5-40h a week to kindly fuck off.
And previous year 2020 was the first tax year without värnskatt, an extra 5%, ie 25% total, for everything above 703 000 SEK. It was abolished 2019.