Thread by @Bereznyak

I did a comparison of tax systems in Europe/USA for in near venture/startup community of @aabulkhairov (uklad.vc).

Useful when you're doing a global #startups
A few highlights in the thread!

First, the salaries themselves vary greatly between continents 🚀

For the U.S. I used #California median salaries (source @talentdotcom), and for Europe I used Portuguese salaries (median too from google first). In Europe, salaries are the same for ease of comparison taxes.

#salary #startups

— Residency is implied everywhere
— Also Single for US (different income tax for married)
— Typical staffing for #salary dispersion

In #Austria it is specified for new residents (personal income tax 20% fixed) for 10 years, otherwise progressive, i.e. more

With Income tax everywhere has its own peculiarities what to include in the tax base (tax base = salary minus social taxes)

In Austria only 12 out of 14 salaries are taxed with personal income tax (Christmas and Vacation only social taxes), for other countries it is considered as 12 salaries/year — i.e. all salaries are taxed

I couldn't find any mention in the documents about the 13th salary.

#Taxes include both what the company pays for the employee and what the employee pays himself, because this money will somehow be paid to the state.

So, no matter how much taxation is criticized in the U.S., taxes there are very good. But the standard of living is also different.
Net salary — salary before taxes minus all taxes.

Taxes are small in the U.S., but salaries are very high. It varies from state to state, of course. Silicon Valley is probably the biggest.

Cyprus is not a bad solution for location 💁🏻‍♂️