Not every country in the world has the same complex tax system that is used by the United States. Reform to corporate and individual income taxes has led to lower rates on the international level. Instead of layers of taxation, simplified tax systems have been implemented. Here is a countdown of countries that have discovered a way around high taxation to corporations and individuals (excluding oil-rich nations). Starting with number 10 below! Here’s a spoiler, number 1 has a 0% income tax rate!
Latvia has an individual tax rate of 23%. There are some exemptions granted depending on the type of income. Tax rates for corporations are 15% as are individual capital gain taxes.
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