Kiss the taxman goodbye

Dubai: It might sound strange to employees in the UAE who live a life without any hassles from the taxman.

But there are workers in the world who feel the need to celebrate when the tight grip of their tax office finally loosens, at least symbolically.

Tax Freedom Day describes the day in a year when an employee has earned enough to pay all government taxes and social security duties. In Norway and Sweden, the two countries with the highest income tax burden, Tax Freedom Day falls on July 29, after citizens have worked for 210 days to pay their taxes and duties at an average rate of 57 per cent of income.

In India it takes 74 days of work until taxes are paid. Thus, Indian workers celebrated their Tax Freedom Day on March 14.

Washington organisation the Tax Foundation said in the US people worked for 99 days to pay their taxes, and set Tax Freedom Day for April 9. In the UK, working for the state stopped after 150 days on May 30.

Apple offers a gadget called Tax Freedom Clock for the US and the UK available at apple.com.