9. Finland

Highest Income Tax Rate: 49.2 Percent

At present the natives of Finland are paying 49.2 percent of income tax, which has been significantly reduced from the 53.5 percent of income tax rate of 2004. Though the income tax rates have reduced drastically but then the citizens are burdened with other taxes like the property tax, gift tax and capital gains tax. And individual belonging to Finnish church also have to pay a church tax of 1 percent to 2 percent as well.

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8. (Tied) United Kingdom

Highest Income Tax Rate: 50 Percent

U.K. is one among the other three countries with the highest income tax rates of 50 percent, which was increased by 10 percentage points from 40 percent in 2010. Income tax collection provides a bulk of revenues to the government in the UK. The workers in Britain pay a social security tax of 12 - 14 percent to the government. Britain’s capital gains tax also ranges from 18 percent to 28 percent.

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