Income Tax In Southeast Asia [INFOGRAPHIC]
#deathandtaxes, #deathbytaxes … the subject of income tax is always an issue, but recently it’s taken center stage as senators call for #taxreform to ease the burden on Filipinos, who have been said to pay the most taxes in Southeast Asia. But it’s hard to compare tax rates among different countries; there are so many more factors that should be taken into account, such as the standard of living, the threshold at which the top tax rate kicks in, and the different kinds of taxes. Income tax is only one tax — other taxes include social security and value added tax — and depending on the country, there may be tax relief options available, such as for families with children. And of course, in a lot of European countries, taxes are high but the corresponding benefits, like state education and healthcare, are generous compared to other countries.
In this infographic, we’ve put together a quick guide to income tax in Southeast Asia, so you can get a better picture of how different the rates are in different countries. (Disclaimer: this graphic is purely about personal income tax of residents in that country. It does not take into account the standard of living, tax benefits available, social security, VAT, or other factors for each country. Values converted to PHP using oanda.com.)