18 Countries with the Lowest Individual Tax Rates in the World

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10. Georgia

Personal income in Georgia that’s next in line on our list of countries with the lowest individual tax rates in the world, is subjected to the 20% tax rate. What is very good in this country is the fact that individuals with the annual salary less than 30,000 Georgian lari (GEL), people without employment and the ones who register as a micro business will be exempt from tax on their business income. Moreover, individual entrepreneurs with the annual turnover of less than GEL 100,000 pay 5% tax on their turnover. This rate can be lower (3%) if the expenses from the small business exceed 60% of their sales.

18 Countries with the Lowest Individual Tax Rates in the World

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