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The Top 5 Cities with the Highest Taxes and Social Security Contributions
| City | Taxes and Social Security Contributions (as a % of gross wages) |
|
|---|---|---|
| 1 | Brussels, Belgium | 43% |
| 2 | Copenhagen, Denmark | 41% |
| 3 | Oslo, Norway | 36% |
| 4 | Munich, Germany | 35% |
| 5 | Montreal, Canada | 33% |
Tags:
Business, Finance & Industry, Top 5 Highest
Sources: UBS. CIO Wealth Management Research: A comparison of purchasing power around the globe, 2012.
List Notes: Data is top 5 cities with the highest total taxes and social security contributions in % of gross wages for the year 2012. Methodology: Weighted average of income taxes and mandatory or customary social security contributions in 15 professions. For this list income tax is calculated taking into account marital status and standard exemptions. Social security contributions are calculated using compulsory contributions payable by employees for statutory old age, disability and unemployment insurance as well as for state health insurance. Social security contributions also include employee contributions to occupational old age and health insurance schemes provided that they are largely typical for the city or country.
Sources: UBS. CIO Wealth Management Research: A comparison of purchasing power around the globe, 2012.
List Notes: Data is top 5 cities with the highest total taxes and social security contributions in % of gross wages for the year 2012. Methodology: Weighted average of income taxes and mandatory or customary social security contributions in 15 professions. For this list income tax is calculated taking into account marital status and standard exemptions. Social security contributions are calculated using compulsory contributions payable by employees for statutory old age, disability and unemployment insurance as well as for state health insurance. Social security contributions also include employee contributions to occupational old age and health insurance schemes provided that they are largely typical for the city or country.
