Here are the 27 countries with the highest levels of tax in the world
27. Japan: 51.3% — Japan one of the largest economies in the world despite having a total tax rate of more than 50%. In Asia, it has the fifth highest taxes of any country.
26. Mexico: 51.8% — Mexico is one of several Latin American countries with a total tax rate well over 50%. The basic rate of tax for corporations sits at 30%.
25. Ivory Coast: 51.9% — The first of eight African countries in our ranking, the Ivorian authorities charge a basic 25% corporate profits tax, but bump that to 30% for those in the telecommunication, IT, and communication sectors.
24. Austria: 52% — One of just six countries within Europe with a tax rate of more than 50%, Austria's tax system has some interesting quirks. For example, couples are taxed separately even when they're married.
23. Ukraine: 52.9% — Businesses in Ukraine not only have to contend with serious geopolitical concerns, but also some of the highest taxes in Europe. Only four countries on the continent have a higher total rate.
22. Sri Lanka: 55.6% — Sri Lanka's basic rate of tax for corporations stands at 28%, but jumps to 40% for any company "dealing in liquor or tobacco." The total rate of tax ends up far higher though thanks to a bunch more add-ons.
21. Belgium: 57.8% — The home of the European Union has the fourth highest rate of tax in the Eurozone, and the highest outside the so-called 'big five' Euro countries.
20. Costa Rica: 58% — The small nation in Central America is one of a few countries in the area to have a tax rate well in excess of 50%. This is part in thanks to high levels of tax activism in recent years, which has led policy makers to increase total taxes.
19. Spain: 58.2% — Though it comes in at number 19, Spain is only third of the five large European countries — two other sneak in ahead, with higher rates for businesses.
18. India: 61.7% — Finance minister Arun Jaitley aims to cut India's corporate tax level by more than five percentage points, down to 25% over four years.
17. Tunisia: 62.4% — Though some other countries further south have steeper rates, Tunisia's total tax rate is the second-highest in north Africa.
16. Benin: 63.3% — The World Bank says the country's corporate income tax only runs to 15.9%, but a bundle of other taxes raise the total rate imposed on businesses significantly.
15. Gambia: 63.3% — Without major natural resources, Gambia is among the poorest nations in the world. Taxes on turnover rather than profit raise rates for businesses significantly.
14. Chad: 63.5% — Like Gambia, chad relies on agriculture and is extremely poor. It taxes 1.5% of turnover or 40% or profits, depending on which is higher.
13. China: 64.6% — Like many other countries on the list, China levies some taxes on the turnover of businesses rather than their profit.
12. Italy: 65.4% — The country is known for its higher tax rates but gets beaten to the number 1 spot in Europe by another country.
11. Venezuela: 65.5% — The government of Venezuela pursued a higher-tax model, with dramatic increases in taxes for foreign oil companies under former President Hugo Chavez.
10. Nicaragua: 65.8% — In 2012, the International Monetary Fund (IMF) suggested that the country reduce the complexity of its corporate tax system.
9. France: 66.6% — The country tops the ranks for Europe, though the current government has pledged to reform the system and cut corporate taxes.
8. Guinea?: 68.3% — Most of Guinea's corporate taxes are paid through a flat-rate tax on turnover from the previous year.
7. Brazil: 69% — Last year Latin America's biggest economy eliminated a 20% tax on business payrolls as part of an effort to reform its system.
6. Mauritania: 71.3% — In 2013, this agriculture-dependent country brought in a withholding tax of 15% to stop people moving payments to non-residents.
6. Algeria: 72.7% — Algeria has the highest total tax rate of any African country.
4. Colombia: 75.4% — The country brought in a new wealth tax — though it's fourth in the world, it only comes third in Latin America for its total tax rate.
3. Tajikistan: 80.9% — The central Asian country has a 2% statutory tax rate on all turnover, which takes out a significant chunk of a company's average profits.
2. Bolivia: 83.7% — Bolivia's 3% tax on transactions wipes out 60% of company profits, even before other taxes are taken into account. But it still loses out to one other Latin American country.
1. Argentina: 137.3% — Astonishingly, Argentina's total tax rate is judged to be over 100% of corporate profits. The country's turnover tax alone eats up nearly 90%, before taxes on salaries and financial transactions are taken into account.
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