Venezuela vs United Kingdom
Tax Rate Comparison
Enter your income below for a personal tax estimate, then scroll down for full rate breakdowns.
๐ฐ Personal Income Tax Calculator
Enter your income to see your estimated annual tax liability in each country โ side by side.
๐ป๐ช Venezuela โ Municipal & State Taxes
Venezuela's 23 states and Caracas Capital District have constitutionally defined taxing powers. States levy taxes on minerals, hydrocarbons (petrรณleo royalties), and salinas. Municipalities levy the Impuesto sobre Actividades Econรณmicas (IAE) โ a gross receipts tax โ at 0.5%โ10% on businesses, varying dramatically by municipality. The SENIAT (tax authority) administers national taxes. Hyperinflation (2017โ2021) destroyed the bolรญvar and most formal taxation. Dollarization and new strong bolรญvar (VES) partially stabilized the system. Significant informal economy.
๐ฌ๐ง United Kingdom โ 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 ยฃ1,200โยฃ4,000+/year). Business rates are set nationally but collected locally. SDLT applies to property purchases (LBTT in Scotland, LTT in Wales).
Venezuela vs United Kingdom: Key Tax Differences (2026)
๐ฐ Income Tax: ๐ฌ๐ง United Kingdom has a higher top income tax rate (6โ34% vs 0โ45%). ๐ป๐ช Venezuela is more favourable for high earners.
๐ VAT/Sales Tax: United Kingdom has a higher consumption tax (16% vs 0โ20%).
๐ข Corporate Tax: ๐ฌ๐ง United Kingdom offers a lower corporate rate (25% vs 34%), which can influence business location decisions.
๐ Capital Gains: ๐ฌ๐ง United Kingdom taxes investment gains at a lower rate (24% vs 34%), benefiting investors.