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.
The United Nations has released fresh data on the most populous cities in the world. Let's take a look at the top megacities by population.
Deepfake is a technology based on artificial intelligence to create ultra-realistic fake videos, audio, and images featuring real people. In recent years, it has gained incredible popularity, evoking both admiration and concern. Celebrities, whose faces are often used for such purposes, have felt its impact most acutely. In this article, we will discuss five of the most "deepfaked" individuals who have become the main victims of this emerging technology.
The biggest news of recent days has been Donald Trump's victory in the US presidential election. This event has caused a stir around the world, reminding us of the significant role a US president plays in both national development and international affairs. Throughout US history, several presidents have dramatically reshaped the country's domestic landscape and strengthened its influence abroad. Let's take a look at some of the most influential
