Why do Swedes love taxes?

Besides the generally positive view towards taxes, another reason for the Tax Agency’s popularity is its accessibility and customer-friendliness. Many errands can be done electronically, which suits tech-savvy Swedes. For example, you can submit your income tax return online, by app, phone or even text message.

What do Norwegians pay in taxes?

As a tax resident of Norway, you must pay tax on income that you’ve earned during a calendar year. You’ll be liable for tax on your salary and other income, including interest income, income from the letting of property and income from shares. The income tax rate is 22 percent.

Are taxes higher in Europe?

Taxes. Taxes are higher in Europe and include a value-added tax (VAT) that can be upwards of 25\%.

Why are income tax rates in Scandinavian countries so high?

In order to raise a lot of income tax revenue, income tax rates in Scandinavian countries are rather high except for in Norway. Denmark’s top marginal effective income tax rate is 60.4 percent.

How does Norway’s tax system compare to other countries?

Norway’s top personal tax rate of 38.4 percent applies to all income over 1.6 times the average Norwegian income. Sweden’s top personal tax rate of 57.1 percent applies to all income over 1.5 times the average national income.

What is the average income tax rate in other countries?

From the American perspective, this means that all income over $60,000 (1.2 times the average income of about $50,000 in the United States) would be taxed at 60 percent. Sweden and Norway have similarly flat income tax systems.

How high are social security contributions in Norway and Sweden?

Both Norway and Sweden levy high social security contributions, raising revenue of about 10 percent of GDP. In the United States, social security contributions ( payroll tax es) raise revenue of approximately 6 percent of GDP.