Chart on BRIC's Highest Personal Income Tax!

Source: http://www.equitymaster.com/5MinWrapUp/detail.asp?date=10/01/2011&story=1&title=Do-you-invest-on-the-basis-of-AAA-rating

Benjamin Franklin famously quoted that "in this world, nothing is certain but death and taxes." This statement is definitely true for most emerging markets. Today's chart of the day shows the personal income tax rates (at the highest bracket) for countries in the BRICS (Brazil, Russia, India, China, and South Africa) nations. Out of these only Russia is spared, having a flat tax rate of 13% applicable to domestic residents. In India, the highest tax bracket kicks off at Rs 0.8 m, and the maximum income tax rate on income is 30.9%, including an education cess of 3%. In China, the highest income tax rate is a whopping 45%. Both India and China pay taxes at a rate, well above their Asian peers. In the Asian region, the average rate remains at just over 23%.

Data source: KPMG Survey, 2011
*includes educational cess of 3%