Ready to put some of that hard earned cash back into your bank account? We are. While we agree taxes are a necessary evil in life, we hate watching we hate watching a huge chunk of it go right out the window before it even lands in our bank account.
Here are the most tax-friendly cities from around the globe. Taken from a comprehensive study of global tax burdens, prepared by KPMG, these are the top cities frmo around the world with the smallest tax burdens. So perhaps its time to pack your bags and see if your company has an office in one of these cities.
Using the Total Tax Index (TTI), which compares tax burdens by comparing the total actual tax cost in each location, the U.S. serves as a baseline, with a TTI of 100. With a TTI of 49.7, India is by far the most tax-friendly city in the world. Chennai and Mumbai are among the five cities in the world with the lowest TTI. According to Numbeo, the average monthly disposable salary after tax is equivalent to $694.00 USD and an average gallon of milk in Mumbai costs only $2.77.
Toronto has the second-lowest TTI, coming in at 59.1 and Toronto is the fifth tax-friendliest city in the entire world. Average monthly disposable income after taxes is at $2,599.00 and a gallon of milk will cost you just over $6.00.
Saint Petersburg, Russia
Russian ranks 5th in terms of counties for taxes. With a score of 67.8, St. Petersburg is the tax-friendliest of all the Russian cities. Milk costs about $4.00 per gallon and citizens have about $625.00 in spending cash each month.
China is the 3rd most friendly place, tax-wise in the world with a TTI of 68. In Shanghai, the average cost of a gallon of milk is a bit steeper at $10.00, and the average monthly disposable income is about $1,465.00 after taxes.
Manchester, United Kingdom
Manchester comes in with a 68.8 TTI and is the 9th friendliest city on your wallet for taxes. On average a gallon of milk costs about $5.00 and your disposable salary equates to $2,150.00 each month.
Atlanta, United States
Atlanta is by far the most tax-friendly city in the US with a ranking of 86.7 TTI, and 19th on the planet. On average a gallon of milk costs about $3.00 and most people have a disposable after tax salary of $2,817.00
Mexico City, Mexico
Mexico boasts two of the most tax-friendly cities in the world, Monterrey and Mexico City. In Mexico City with an average TTI of 64.2 your disposable income after taxes is $677.00 and a gallon of milk comes in just under $4.00.
Tax-friendly Amsterdam has a TTI of 76.9 and a gallon of milk will cost you around $3.72. Your disposable income after taxes will come in at about $2,576.00
So have we convinced you a change of scenery might be in order?