Personal Income Tax (PIT) is a direct tax levied on income of a person. A person means an individual, an ordinary partnership, a non-juristic body of person and an undivided estate. In general, a person liable to PIT has to compute his tax liability, file tax return and pay tax, if any, accordingly on a calendar year basis.
Personal Income Tax Rate:
- Japan: 51%
- France: 50.3%
- Germany: 47.5%
- UK: 45%
- China: 45%
- US: 39.6%
- Turkey: 35%
- India: 34%
- Russia: 13%
- Maldives: 00%
In Maldives, the Tax Regime is deliberately kept incomplete by individual businessmen and the rich in the Parliament. Maldives takes no personal income tax.
