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According to a new study, employees in India are the biggest contributors
to the governments’ coffers among their Asian peers on the
basis of the percentage of gross salary paid
as taxes and other payments such as social security contributions.
Indian employees take a deduction of as much as 29.1 per cent from
their gross salary, against just five per cent in the UAE, making
it home to the world’s most benign personal tax environment,
international HR consultancy firm Mercer said in a report.
Deduction
The UAE does not assess any income tax and the five per cent deduction
from an employee’s gross salary is towards the country’s
social security contributions. Belgium, Denmark and Hungary have
been named as the least attractive nations across the world. Mercer’s
Worldwide Individual Tax Comparator Report analyzed the tax and
benefits systems across 32 countries focusing on personal tax structures,
average salaries and marital status.
The survey also found that married employees are better off than
single employees while married employees with two children fare
the best.
Marital status
“Marital status is still a major factor in determining local
tax rates. The data highlights the fluctuation in tax rates applied
according to an employee’s income level and marital status,"
the report said.
However, not all taxation systems vary according to marital status.
Married employees in Brazil, India and Turkey have similar tax rates
to single employees.
INDIANS RICHEST IN SILICON VALLEY
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SILICON VALLEY
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| Indians in Santa Clara County,
which houses the Silicon Valley, have the highest average household
income, own the most valuable homes and are the best educated,
according to a census report. |
| The report which provides a snapshot
of Santa Clara County, one of the only two counties in the country,
shows that Indians have an average income of US $ 116,240. This
is about 44 per cent above the county’s average income
of about US $ 81,000, said the San Jose Mercury News. |
| The report profiled the four largest
immigrant communities — Indians, Mexicans, Chinese and
Vietnamese. It found that although three-quarters of the Indians
were born abroad, they owned the most valuable homes costing
about US $ 8, 60,000, when compared with the county’s
average price of US $ 743,000. |
| More than four in five Indian adults
have at least a bachelors’ degree. They are most likely
to be white-collared Professionals, with about 80 per cent engaged
in management, professional and related occupations. |
Source: PTI
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6:46:02 AM 
