Denmark among the world’s richest nations, but high tax rates limit it to #10

Denmark among the world’s richest nations, but high tax rates limit it to #10

Denmark is the tenth best country in the world for acquiring wealth, according to a comparison made by Tipalti.

It assessed working environments and benefits in nearly 40 countries, mainly in the OECD, taking into account average annual working hours, average annual wages, tax rates and average pension assets.

Top drawer for working hours
Denmark was let down by having a total tax rate (income, VAT and business) of 102 percent – ​​the highest in the comparison.

However, it scored well for average working hours, as its figure of 1,400 was the lowest in the top ten.

Its average annual salary (US$63,010) and average retirement assets per person (38,682) was very middle class.

Switzerland’s richest
Switzerland topped the ranking, not least thanks to the highest average annual salary (83,620) and the highest pension wealth (137,515).

The United States, Iceland, Norway, Canada, Australia, the Netherlands, Ireland and Luxembourg completed the top nine.

Among other curiosities, Germany had the lowest average annual working hours and Mexico the highest; the lowest tax rates could be found in Hungary, Lithuania and the USA, and the highest in Denmark, Austria and South Korea; and Great Britain was 14th.

Source: The Nordic Page

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