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10 best countries to work with good salaries.

These are the few top 10 countries to work with good salaries if you want to travel out of this country to work.

1. Hong Kong

Both residents and expats are taxed at either a progressive 2% to 17%, depending on their income level, or a standard rate of 15%. So an average expat salary after tax is about $235,000

2. The UK

We all know the impact of UK taxation on our income. Expats working here get the same tax treatment as us locals. So, when it comes to after-tax salaries, the UK loses its leadership and takes second place with an average after-tax salary of about $225,000.

3. Singapore

Most expats in Singapore are likely to have to pay the progressive resident tax rates, just as in the UK, though there are more bands. The income tax rate varies up to a maximum of 22%. The first $20,000 earned is tax-free. So, an average after-tax expat salary is about $210,000

4. Japan

Japan uses a progressive income tax system made up of national, prefectural and municipal taxes, and as tax residents, expats are taxed the same way as locals, so their average after-tax salary is $195,000

5. The UAE

There is no income tax in the UAE; an expat salary on average is about $191.205 with no income tax deductions.

6. Switzerland and the USA

Both countries tax expatriates on the same basis as their citizens with various taxes applied. The result is an average expat after-tax salary of just over $190,000.

7. China and the Korea Republic

In China income from employment is taxed monthly at a progressive tax rate that caps at 45%. There is a monthly standard deduction for foreign nationals of RMB 4,800. Korea uses what is known as a ‘unitary concept’ which means that all income is added together and taxed at progressive rates. An average expat after-tax salary in both countries is just below $190,000.

8. Saudi Arabia

Just like in the UAE, there is no income tax in this country. However, an average expat salary is lower, reaching about $172,000 a year.

9. Turkey

National income tax rates in Turkey start at 15% and go up to 35%. As a result, expats get on average about $170,000 after tax.

10. Canada

Canadian provinces and territories have their own tax brackets and there are no tax exemptions for expats.

As an example, if you reside in the region of Ontario, and make $52,000 a year you will be taxed $11,724. That means that your net pay will be $40,276 per year or $3,356 per month.

As you can see, when considering income after-tax, the list of the best countries to work in abroad is different from the total benefits package ranking.

Tax-free countries like the United Arab Emirates and Saudi Arabia with no personal income tax are now in the top ten, with their expat salary packages being high by international standards. 

Dubai is one of the most interesting places to work abroad with multiple financial opportunities.

Yet, there is one more adjustment to take into account – benefits that a company pays to expat professionals – accommodation, education, utilities, a car, etc.

In some countries accommodation, health insurance and educating children in international schools can cost a fortune. The UK is a typical example: take the benefits out of the after-tax salary – and the average middle manager expat cash salary will be around $75,000 a year.

So when considering which country will be more beneficial for you in financial terms, it is worth looking into taxation and the cost of living in different countries. It is also important to try and negotiate with your employer the best benefits package you can get.

Thanks for reading. I hope this article will help you to find your dream country to travel to for work. Say something about it

Content created and supplied by: Goodnewsafrica (via Opera News )

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