Today, if you are a person with sources of income or homes in several countries, you should be aware that your tax liability depends on your status. You can therefore calculate your tax liability according to your source(s) of income and your marital status. If you want to know more about your income tax rate, you can read this article.
Calculating the income tax rate
For each country, there is a tax schedule that allows you to calculate your tax yourself. You should know that this depends on your age bracket, your marital status and mainly on your tax rate. In three steps you can calculate the amount of your tax yourself. First of all, you have to calculate the ratio of your net income to the number of family allowance brackets. Then you combine this result with the result of the progressive scale and finally you multiply this answer with the number of family quota shares. To find out more about these tax rates, you can search the official statement of the country that concerns you.
The amount of tax you pay depends on things like the top tax bracket. There are several forms of tax rate. These include the progressive tax rate, the average tax rate, the marginal tax rate and the withholding tax rate. With the progressive tax rate, the amount of tax increases with the bracket. With the average tax rate, the tax price is divided by the amount of income. For the marginal tax rate, the final bracket rate is used. And finally, for the tax rate with deduction at source, the tax is deducted at source from the beginning of the month.