Countries With Low Income Tax Rates For Individuals and Businesses

According to May 2009 statistics, Monaco had no income tax requirements for individuals, and the country with the lowest rate were Bulgaria, at 10%. Montenegro, Russia and the countries of the Czech Republic and the Ukraine also had low rates at 12%, 13%, and 15% respectively. 

When it comes to business Montenegro had the lowest flat tax for businesses at 9 percent, with the next lowest being the nations of Bulgaria, Serbia, and Cyprus, each at 10 percent. Ireland, Latvia, and the nations of Hungary and Romania also had low tax rates at 12.5%, 15%, and 16% respectively. 

For more information on income tax rates for business and individuals visit worldwide-tax.com.