Countries with lower taxes and a better quality of living?
I’m currently stuck in Denmark, and it feels like I’m in a never ending financial tug of war with the government, saying goodbye to 50% of my hard earned cash each month. Add a 25% VAT on everything and throw in some hefty taxes on utilities, electricity etc, and you’ve got a situation that has me questioning if this is the life I signed up for.
Living in a place where the cold weather feels like an extra tax on happiness, I’m craving a change.
I’m all about individualism, self-sufficiency, and independence. So here’s the big question: Where in the world are you guys finding that sweet spot between low taxes and a great quality of life?
As I contemplate my escape plan, Cyprus, Portugal, and Dubai are on my radar. I dream of living in a country where taxes don’t feel like daylight robbery. But, and it’s a big ‘but,’ my online income isn’t quite flexing its muscles enough for a move to the streets of Dubai just yet.
So, where are you residing? What’s the tax scene like in your corner of the world? Are you doing a happy dance every payday, or are you, like me, wistfully staring at your bank statement, wondering where all your money went?
And let’s not forget the living conditions. On a scale of 1 to 10, how would you rate your overall quality of life?
I’m not just asking for my benefit, this is a collective quest for a better lifestyle.
Your input is greatly appreciated!
(Just to be crystal clear, I’m not fishing for a lecture on why I should be grateful for my current Danish situation or any unrelated personal opinions. If your input doesn’t contribute constructively, save it for another time.)
Spain, Spain, Spain. Reasonable tax pressure and great quality of life. I live in the North where I can surf all year long. Temperatures are good even in summer. Eating and drinking out is pretty cheap
I love Spain (I live here) but I would not say that it has a reasonable tax pressure, unless you maybe get the Beckham Law. You get taxed really early on (not much tax free allowance) and it climb pretty high. And the structure as an autonomous sucks.
As an employee, earning 50k, you’ll pay 22.5% tax, so net will be 35.6k. On 100k you’ll pay 32.5%, net 64.3k.
And tax on buying property is pretty high, 11% here in Catalunya.
I’m still here so clearly I think it’s acceptable, and quality of life is really high, but it’s by no means a low tax country.
Love you username btw!
I see your point! It's definitely not a tax haven, but I think you get a lot of bang for your money here. Outside the major cities, with 50k you can live a really good life without the discomfort of being in an underdeveloped country
Is the 22.5% tax on 50k salary including social security taxes?
Yes, you can see it yourself here https://cincodias.elpais.com/herramientas/calculadora-sueldo-neto/#tabla_resultados
Which area? Wanted to go for a month and the rent was like 70$ a night! If you can recommand affordable regions in north for sufr, work & chill i would much appriciate it :)