Did you know?... - FCHAIN

There is different information about the historical roots of taxation. One of them  goes to Sumeria, in southern Mesopotamia, a part of modern Irag and the first tax records date from around 3300 BC. Another one is that the first taxation record comes from Ancient Egypt around 3000 BC.

The word “tax” appeared in English in the XIV century meaning “to assess”. But it does not mean that taxation did not exist until XIV century in England, because taxation is as old as the world itself.

So what is tax? Tax is money demanded by a government we have to pay for the support of government, some services we are delivered to. Sometimes we are not pleased with paying taxes, but we shouldn’t forget that paying taxes means that we are employed. And the more we pay taxes the more we earn. So, don’t worry while paying more taxes and be happy with getting a chance of paying taxes, i.e being employed.

There is a wide variation in the tax rates in the world. The highest taxation is in Portugal, Sweden, India, Hungary, Denmark , Norway  and Sweden, while Hong Kong, Montenegro, Canada, Campodia, Namibia, Luxemburg, Croatia, Singapore, Georgia, United Arab Emirates , Zambia, Saudi Arabia, Lesotho, Bahrain, Kuwait, Qatar, Macedonia have low rates of taxation.  But some countries, the number of which is 15, the Bahamas, Bahrain, Brunei, Cayman Islands, Kuwait, Maldives, Monaco , Nauru, Oman, Qatar, Somalia,  United Arab Emirates,  Vanuatu, Western Sahara have no income tax.

And now let’s view personal income tax rate in Azerbaijan. It is as follows:

(Source: TRADINGECONOMICS.COM|MINISTRY OF TAXES)

This is short and general information about taxation in the world.

There are strange, unusual, even funny facts in the history of taxation. So, if you want to know which country placed a tax on urine, cooking oil, hats, wigs and so on, then  just follow us, please.

Article prepared by
Nargiz Mammadova
Public Relations Manager