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United Kingdom vs Venezuela
Tax Rate Comparison

Enter your income below for a personal tax estimate, then scroll down for full rate breakdowns.

πŸ‡¬πŸ‡§ United Kingdom
vs
πŸ‡»πŸ‡ͺ Venezuela
Tax Year:

πŸ’° Personal Income Tax Calculator

Enter your income to see your estimated annual tax liability in each country β€” side by side.

Enter your annual income above to see your personal tax comparison β†’
Individual Income Tax (Top Marginal Rate)
Top Income Tax Rate
0–45%
Thresholds remain frozen; fiscal drag continuing
No change
6–34%
34% top; dollarized economy stabilizing tax base
No change
VAT / GST / Sales Tax
VAT / GST / Sales Tax
0–20%
Standard 20% maintained
No change
16%
16% IVA maintained
No change
Corporate Tax Rate
Corporate Tax Rate
19–25%
25% main rate; possible future reform discussions
No change
15–34%
15–34%; oil sector investment incentives
No change
Capital Gains Tax
Capital Gains Tax
18–24%
Post-Oct 2024 rates in full effect
No change
34%
34% as income
No change
Social Security & Payroll
Social Security / Payroll
~28.3%
15% employer NI; lower secondary threshold remains
No change
~20%
IVSS reform needed; formal sector growing slowly
No change
State, Regional & Local Taxes

πŸ‡¬πŸ‡§ United Kingdom β€” Devolved, Council & Business Rates

Scotland sets its own income tax bands (six bands; top rate 48%). Wales has limited income tax-varying powers. Northern Ireland follows UK rates. All residents pay Council Tax to local authorities (typically Β£1,200–£4,000+/year). Business rates are set nationally but collected locally. SDLT applies to property purchases (LBTT in Scotland, LTT in Wales).

πŸ‡»πŸ‡ͺ Venezuela β€” Municipal & State Taxes

Venezuela's 23 states and Caracas Capital District have constitutionally defined taxing powers. States levy taxes on minerals, hydrocarbons (petrΓ³leo royalties), and salinas. Municipalities levy the Impuesto sobre Actividades EconΓ³micas (IAE) β€” a gross receipts tax β€” at 0.5%–10% on businesses, varying dramatically by municipality. The SENIAT (tax authority) administers national taxes. Hyperinflation (2017–2021) destroyed the bolΓ­var and most formal taxation. Dollarization and new strong bolΓ­var (VES) partially stabilized the system. Significant informal economy.

⚠️ Disclaimer: Rates shown are standard top/headline rates for informational purposes. Actual tax liability depends on income level, residency, deductions, and tax treaties. 2025–2026 data reflects announced or enacted rates and may be subject to change. Not financial or legal advice.

United Kingdom vs Venezuela: Key Tax Differences (2026)

πŸ’° Income Tax: πŸ‡¬πŸ‡§ United Kingdom has a higher top income tax rate (0–45% vs 6–34%). πŸ‡»πŸ‡ͺ Venezuela is more favourable for high earners.

πŸ›’ VAT/Sales Tax: United Kingdom has a higher consumption tax (0–20% vs 16%).

🏒 Corporate Tax: πŸ‡¬πŸ‡§ United Kingdom offers a lower corporate rate (25% vs 34%), which can influence business location decisions.

πŸ“ˆ Capital Gains: πŸ‡¬πŸ‡§ United Kingdom taxes investment gains at a lower rate (24% vs 34%), benefiting investors.

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