Are taxes other than those described above imposed on individuals and, if so, how do they apply?

Private Client

India Small Flag India

Indirect Tax
Goods and Services Tax (“GST”) has been recently introduced in India. GST has subsumed most of the earlier indirect taxes such as excise duty, service tax and value added tax. The implications of GST will arise to an individual if his annual turnover exceeds a certain threshold and will be determined by the nature of services or goods supplied.

Stamp duty
Stamp duty is payable on any instrument which creates or extinguishes any right, title or interest of a person (including individuals) in a property (whether movable or immovable). The rate of stamp duty is dependent upon the nature of property being dealt with under the instrument.

Bulgaria Small Flag Bulgaria

Transfer tax on immovable property located in Bulgaria and vehicles having Bulgarian registration is due upon their transfer / sale. The beneficiary owes transfer tax. In case the beneficiary is a foreign person, transfer tax is owed by the transferor.

Transfer tax is determined by the municipality in the range of 0,1% - 3% of the tax base. For immovable property, the tax base is the higher of the transfer price and the tax value of the property determined by the municipality and for vehicles – their insurance value.

Ireland Small Flag Ireland

Pay Related Social Insurance (“PRSI”) – PRSI is Ireland’s equivalent of social insurance or social security. The amount of PRSI paid by an individual depends on that person’s earnings and the type of work they do.

Universal Social Charge (“USC”) – USC is payable on gross income, including notional pay, after any relief for certain capital allowances but before pension contributions. Currently, if an individual earns EUR 13,000 or less per annum they will not be subject to USC.

United States Small Flag United States

In addition to the taxes described above, a number of states also impose an income tax on state residents. State income taxes are levied by many, but not all, of the states, as well as some local jurisdictions, and the rates vary greatly. For tax years beginning after December 31, 2017, individual taxpayers may elect to deduct state and local sales, income, or property taxes up to a limit of $10,000 ($5,000 for a married taxpayer filing a separate return). Such taxes in excess of those limits are not deductible for US income tax computation.

Sales and use taxes are other taxes imposed on individuals, generally at the state and/or local level. Sales and use tax rates of the states and local jurisdictions vary widely. Excise taxes, also known as luxury taxes, can be imposed at the state and federal level. US excise taxes are imposed on the purchase of heavy tires, gasoline, beer and liquor, cigarettes, airplane tickets and fishing equipment.

France Small Flag France

All French taxes potentially due by non-resident individuals on French real estate also apply to French resident persons. As described in § 2 the tax treatment may however differ.

Italy Small Flag Italy

Individuals may be subject also to indirect taxes, such as VAT, registration tax (which may apply upon e.g. the purchase of Italian real property), cadastral and mortgage taxes (which apply upon any transfer of Italian real property at the overall 3% rate) or the financial transaction tax. The financial transaction tax applies, among the others, to transfers of the ownership of shares in Italian companies (at the general rate of 0.2%).

Israel Small Flag Israel

VAT: In the case of an individual who is considered a "dealer" for VAT purposes, VAT will be applied (2017 – 17%). An individual who sells an asset or provides a service in the course of his business may be regarded as a 'dealer' for tax purposes.

Customs: Israel imposes customs duties on certain imported goods and sales tax on certain imported.

Greece Small Flag Greece

No other taxes are imposed on individuals, other than the ones described, while an annual entrepreneurial levy of eur 650,00 is imposed on professionals such as lawyers, doctors, accountants etc.

Germany Small Flag Germany

There is VAT (19%, in general) on goods and services. Members of the catholic or evangelic church will also be subject to church tax (about 9% of the income tax).

Belgium Small Flag Belgium

No.

British Virgin Islands Small Flag British Virgin Islands

Yes. Payroll tax is payable by employers operating in the BVI and their employees. There is an exemption for both employer and employee, in respect of the first $10,000 of each employee's salary per annum. Payroll taxes are levied as follows:

Class 1 - 10%: employer 2%; employee 8%; and

Class 2 - 14%: employer 6%; employee 8%.

UAE Small Flag UAE

As of 1st January 2018, Value Added Tax (VAT) will be introduced to Dubai (and the whole of the UAE) at a rate of 5%. VAT will be payable by any individual who purchases any produce or service. At the time of writing the regulations had not yet been published, however it is expected that the majority of food items, school fees and healthcare costs will be exempt from VAT.

Individuals who own companies within the UAE must register for VAT if their annual VAT taxable turnover is in excess of AED 375,000. Voluntary registration will also be available if a company’s taxable turnover exceeds AED 187,500.

While Dubai is thought to be largely a tax free jurisdiction, there are a number of indirect taxes including; road usage tax (Salik), soft drink and cigarette taxes, property municipality tax, and municipality tax on water and electricity.

New Zealand Small Flag New Zealand

None.

Monaco Small Flag Monaco

No.

Switzerland Small Flag Switzerland

VAT: VAT is levied at the federal level on all stages of production, distribution and the domestic service sector (domestic tax), on the acquisition of services supplied by companies domiciled abroad (service import tax) and on the import of goods (import tax). Each taxpayer may deduct VAT paid on inputs. Only the target consumer economically supports the VAT. VAT rates are currently of 8% (normal rate, which will be reduced to 7.7% as from 2018), 3.8% (special rate applicable to accommodation services, which will be reduced to 3.7% as from 2018) and 2.5% (reduced rate, applicable to food, medicine, newspaper, books and food).

Other taxes: Others Swiss taxes could be due by an individual, like tax on vehicles, tax on garbage bag. An individual could also economically support indirect taxes, as taxes on alcohol and tobacco.

United Kingdom Small Flag United Kingdom

Purchasers of shares registered in the UK may have to pay stamp duty or stamp duty reserve tax at 0.5% on the consideration. Individuals who make supplies of goods or services in the course of a business may have to charge value added tax ("VAT") at up to 20% on their supplies and account for that tax to HMRC. VAT and customs duties may be charged on the import of goods from outside the European Union. Excise duties are generally charged on motor fuel, alcohol, tobacco, betting and vehicles.

Updated: March 6, 2018