Luxembourg workers net the biggest slice of pay

from Luxembourg, France and Spain earn the highest net salaries in Europe,
according to a new survey.

report, by AGN Shipleys, the accountancy arm of the Accountants Global Network
(AGN), looked at 14 European Union countries, analysing what individuals,
earning the same amount in each country, could expect to keep as net pay (the
survey uses a base salary of 100,000 euros).

survey found:

Luxembourg citizens have the highest take home salary, clearing 73 per cent of
their gross salaries

Swedes pay the highest level of income tax at 48 per cent of their total salary

The Danes pay the highest combined level of contributions (income tax and
social security contributions) totalling 54.6 per cent

France is the most expensive country in the EU when it comes to employing
people – French employers pay an additional 44 per cent on top of the original
salary (UK employers pay just 12.6 per cent extra).

at the highest levels of net income, the French come in second to Luxembourg
(on 73,000 euros) and can expect a net salary of 68,027 euros. Third come the
Spanish with a net salary of 67,799 euros. The Finnish and the Danes take home
the lowest net salaries from 100,000 Euros, expecting a salary of 48,682 and
45,400 Euros respectively. Britons come in at number five, with 61,719 euros.

it comes to income tax, the Swedish pay the most in Europe, with 48 per cent,
but this is offset by low social security contributions. Income tax is the
lowest in France, but the French compensate by paying the highest social
security contributions in Europe.

employers, France is Europe’s most expensive place to employ people, with a
total cost to the employer of 144,016 euros per employee on a salary of 100,000
euros. Belgium is the second most expensive place for employers, costing 34,500
euros per employee and Sweden is third on 32,820 euros. UK employers fair
pretty well, in ninth position with 12,634 euros.

By Quentin Reade

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