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These are the 19 countries with the highest tax rates in the world

Oct 8, 2015, 20:29 IST

A woman holds a sign that reads AP Photo/John Bazemore

The World Economic Forum's latest Global Competitiveness Report was released recently, offering an annual update on the state of the world's economies.

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The WEF uses a bundle of indicators - ranging from how easy it is to open a business, to how likely public officials are to take a bribe. One of the ones they use is the country's tax burden, with higher scores indicating less competitiveness.

To measure it they use the World Bank's "total tax rate" - here's what it uses to work it out:

The total amount of taxes is the sum of five different types of taxes and contributions payable after accounting for deductions and exemptions: profit or corporate income tax, social contributions and labor taxes paid by the employer, property taxes, turnover taxes, and other small taxes.

So it includes any taxes on labour that fall on the employer, but not ones like income tax that fall on the employee.

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