FX.co ★ Russia outstrips Saudi Arabia in taxes for the rich

Well-off Russians have to endure a heavier tax burden than their peers from Saudi Arabia, BBC News informed on February 25 citing PricewaterhouseCoopers.
Surveying taxes in G20 countries, PwC estimated how much money an employee would have for himself after paying his duties to the state, assuming that the average wage in is $400,000, the employee has a $1.2 billion mortgage, he is married and raises two children with one of them being under 6.
Thus, it was found that a Russian will have 87% of $400,000, and a citizen of Saudi Arabia will enjoy 96.86% of this sum. Yet, there are less lucky countries. The ranking of high taxes is topped by Italy, where a taxpayer making $400,000 wage will get mere $202.36 thousand, i.e. 50.59% of his wage. The third position is taken by Great Britain. A Briton eventually has 57.28% of the total wage. Living in the United States, you can only count on 60.45% of your wage, and Germany will offer you some 61.60% of what you actually made. In most developed countries, a tax bearer receives $230-280 thousand left from the wage of $400 thousand. Experts note that the application of the income tax upper limit varies depending on the country. In Great Britain, earnings over $250 thousand are levied 45%, whereas Italy has a 43% threshold for amounts exceeding $125 thousand.
The tax rate in Russia is flat. Russians basically pay 13%, however there is a higher rate for lottery prizes and bank deposits running over the set limits.