Bangalore:  It may annoy you whenever the government increases the tax rates, but even if you dislike paying higher taxes, you cannot evade it. And blaming the Indian government too won’t help you much, because other nations are doing this too, in order to balance the weak economy. Higher tax rates facilitate the government to gather more funds from the general public and pay off the public debt whenever it rises. There are many countries in the world where the people are paying much higher taxes. Here is the list of the ten countries paying the top marginal tax rate among 96 countries surveyed by KPMG in 2011, as reported by the Cnbc.com

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10. Ireland

Highest Income Tax Rate: 48 Percent

Ireland’s income tax rate is 48 percent which is much higher than the average personal tax rate of 40 percent in Northern Europe. The residents of Ireland also have to pay an additional social security tax of 4 percent.  The Irish government has also raised the capital gains tax from 25 percent to 30 percent for gifts and inheritances.

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