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The list focuses on the main types of taxes: corporate tax, individual income tax, and sales tax, including VAT and GST and capital gains tax, but does not list wealth tax or inheritance tax. Personal income tax includes all applicable taxes, including all unvested social security contributions.
v. t. e. An income tax is a tax imposed on individuals or entities (taxpayers) in respect of the income or profits earned by them (commonly called taxable income ). Income tax generally is computed as the product of a tax rate times the taxable income. Taxation rates may vary by type or characteristics of the taxpayer and the type of income.
Cost of living is the cost of maintaining a certain standard of living. Changes in the cost of living over time can be operationalized in a cost-of-living index. Cost of living calculations can be used to compare the cost of maintaining a certain standard of living in different geographic areas.
List of countries by average wage. The average wage is a measure of total income after taxes divided by total number of employees employed. In this article, the average wage is adjusted for living expenses "purchasing power parity" (PPP).
Also excluded are income and property taxes, employer-provided benefits, and the portion of healthcare costs paid by insurance plans or government programs such as Medicare, since these prices are not borne directly by consumers.
Individuals, estates and trusts must pay a 3.8% net investment income tax (NIIT) when their NII goes over specific threshold amounts.