Carmella Luciano: What are the differences in taxation of citizens between USA, Italy, & UK?
Can someone from UK & Italy explain the taxation system in your countries? Do you get to keep most of your paychecks? Do you get to keep “winnings” – such as lottery ticket or prize monies without taxes?
I live in USA so I know the crappy taxation here, but any fellow Americans feel free to answer if you want! Thanks!
Answers and Views:
Answer by bostonianinmo
Having lived and worked in Europe for about 10 years, including 7 in the UK, I can say without qualification that taxes are much lower in the US than most of Europe.
Income taxes in Europe tend to run 20% to 50% higher than in the US.
Fuel taxes in Europe average more than $ 3.00 per gallon resulting in pump prices between $ 7.50 and $ 8.00 per gallon at current exchange rates.
The UK levies a television tax of about $ 270 just for the right to turn on your TV. You also pay a Road Tax of between $ 70 and $ 600 just for the right to park your car in the street. The rate is based upon CO2 emissions and most folks pay between $ 300 and $ 400 per year.
Sales taxes, called VAT, are levied at between 17.5% and 24% in virtually all of Europe.
The truth is that Americans pay some of if not the LOWEST in total taxes of ALL modern industrialized countries. My tax bill in Europe was easily 50% more than I pay here in the US. I thoroughly enjoyed living and working in Europe and would probably do so again if the opportunity ever presented itself but the tax burden is crippling for most folks.
Leave a Reply