The 5 Most Attractive European Union Countries with Low Taxes!
As the world is continuously moving towards globalisation, more people are seeking the ideal combination of financial prosperity and great sunny weather, especially people from countries with gloomy weather.
From the Mediterranean shores to Eastern Europe, there are several countries that have the best outcome for people to save their money while also enjoying sunny days, which is particularly attractive for expatriates and investors.
Here is a list of sun-kissed tax havens for people who are looking for a brighter future.
Cyprus
This island is a spot-on destination to have a great time while also saving up money. Every third person that has moved to Cyprus, has done so for taxes and weather. And not to mention the divine beauty that this coastal country offers.
According to HSBC Expat, the national tax rates start applying for all income that exceeds €19,500, starting at 20 per cent, while all income that surpasses €28,001, is charged 25 per cent. This amount increases to 30 per cent for amounts between €36,301 and €60,000.
Bulgaria
Tax rates for Bulgarians are ten per cent, regardless of their income and whether they live and work in Bulgaria or abroad. The same charges apply to self-employment income while non-resident individuals are taxed only on their income from sources in Bulgaria.
The country has a lovely weather, great beaches and the people are very friendly. A true haven for those who want to save up money and live a worrisome life.
Romania
Similarly to Bulgaria, its neighbouring country of Romania is a lovely country to enjoy sunny days as well as take care of your income, as the tax rates are considerably lower than in other European countries.
The personal income tax rate is around ten per cent, while corporate income tax rates reach 16 per cent. In addition, the value-added tax rate is around 19 per cent for, the standard rate and five per cent for the reduced rates.
Malta
This Mediterranean island is absolutely stunning and especially summer is the best time to be staying there. However, the beauty of Malta does not stand only on its weather but also in favourable tax rates, which are considerably affordable.
Tax rates are applicable to annual chargeable income of up to €10,500 – 15 per cent, while this rate is 25 per cent for amounts between €15,800 and €60,000.
Andorra
The small country has great weather, like Spain, but not similar tax rates. Residents and companies have to pay a ten per cent income and there is no sales tax, but there is a 4.5 per cent VAT.
