7. (Tied) Japan

Highest Income Tax Rate: 50 Percent

Japan is the only country from Asia which has been ranked in the top ten lists of highest income tax. Its tax rate of 50 percent is more than the double of the average tax rate of 23 percent in Asia. The income tax rate in Japan is divided into two parts, with a marginal rate of 40 percent and an additional 10 percent of municipal tax. Further, in addition to the healthcare insurance, Japanese of 40 years and above have to pay additional nursing care insurance.

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6. (Tied) Belgium

Highest Income Tax Rate: 50 Percent

The 50 percent highest personal tax rate of Belgium is 5 percentage points higher than the average for Western Europe. The Belgians employee social security rate is 13 percent. The municipal tax for Belgians is 11 percent of income of their income and the nonresidents pay a fixed 7 percent rate.

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