Expats looking to minimize their income-tax bill may want to pack up and move to Bulgaria.
While there’s no such thing as tax-free living, some places have better tax structures for expats than others—and the tiny Balkan nation is one of them.
A new report from AIRINC, a firm that collects and analyzes data on international mobility that’s based in Cambridge, Mass., shows certain countries offer distinct advantages when it comes to expats paying taxes.
The results: The best tax locations are Bulgaria and Kazakhstan, both with a flat income-tax rate of 10%. The worst country was Slovenia, with a 61.10% marginal rate for married taxpayers, followed by Belgium, with a 59.60% marginal rate.
In Slovenia, the income tax rate is 50%–on top of that, employees pay a deductible social-security contribution of 22.1%, explains Patrick Jurgens, director of global tax research and consulting at AIRINC.