scorecardThe US has become one of the lowest-taxed countries in the world. Here are the 6 other nations with the smallest tax burdens.
  1. Home
  2. slideshows
  3. miscellaneous
  4. The US has become one of the lowest-taxed countries in the world. Here are the 6 other nations with the smallest tax burdens.

The US has become one of the lowest-taxed countries in the world. Here are the 6 other nations with the smallest tax burdens.

Mexico: 16.1% tax rate

The US has become one of the lowest-taxed countries in the world. Here are the 6 other nations with the smallest tax burdens.

Chile: 21.1% tax rate

Chile: 21.1% tax rate

The Chilean tax rate has hovered between 18% and 21% for the last two decades. It has a robust value-added tax compared to other OECD countries and relatively high levies on corporate income.

It collects a smaller proportion of its revenues from its property taxes.

Ireland: 22.3% tax rate

Ireland: 22.3% tax rate

The Irish tax burden has fallen steadily since 2000, according to the OECD.

But the government still draws higher revenues from personal income and corporate profits compared to other OECD countries.

Turkey: 24.4% tax rate

Turkey: 24.4% tax rate

The Turkish tax burden has held steady in the last two decades between 23% and nearly 26%, according to the OECD.

The government levies substantially higher taxes on goods and services and its revenue from personal income and corporate taxes is lower.

Switzerland: 27.9% tax rate

Switzerland: 27.9% tax rate

The OECD says the tax rates in Switzerland are characterized by "higher revenues from taxes on personal income, profits & gains; taxes on corporate income & gains; and property taxes."

Switzerland doesn't levy any payroll taxes, helping maintain its tax burden low.

South Korea: 28.4% tax rate

South Korea: 28.4% tax rate

According to the OECD, taxes that the South Korean government imposes are higher on corporate profits and earnings compared to other major developed economies.

But the proportion of revenue generated from personal income taxes is lower.

Advertisement