Looking at annual reports of the World Economic Forum (WEF), we can judge the health of most of the world economies. One of the indicators the WEF uses is a country's tax burden, with higher scores indicating lower competitiveness. Below is the list of the states with tax rates above 50%.
Argentina. Its tax rate is 137.3%. Oddly enough, Argentina's total tax rate is greater than 100% of corporate profits. The country's turnover tax takes about 90%, except for taxes on salaries and financial transactions.
Bolivia: 83.7% tax rate. The country’s 3% tax on transactions wipes out 60% of company profits before other taxes are taken into account.
Tajikistan: 80.9%. The nation has a 2% tax rate on turnover which takes out a significant share of a company's profits.
Colombia: 75.4%. Colombia is the world’s fourth country and third in Latin America for its total tax rate. The country introduced a new wealth tax.
France: 66.6%. France has a higher tax burden than any other country in Europe though the government takes measures to cut corporate taxes and reform the tax system.
Italy: 65.4%. The country's tax burden is the second heaviest among the countries in the European Union.
Belgium has the highest tax rate of 57.8% among Europe's big five economies.
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