Who pays the most income tax in the world?

1. Aruba
Highest income tax rate: 58.95%
Average 2010 income: N/A

Aruba, a Dutch territory, has the highest income tax rate in the world. It is also the only country in the Americas to make the top 10 list.

The tax rate used to be as high as 60 percent before 2007. The current top marginal rate of 59 percent kicks in at around $165,000. Married individuals have a lower maximum rate of 55.85 percent, compared with single taxpayers at 58.95 percent. ... more 

1. Aruba
Highest income tax rate: 58.95%
Average 2010 income: N/A

Aruba, a Dutch territory, has the highest income tax rate in the world. It is also the only country in the Americas to make the top 10 list.

The tax rate used to be as high as 60 percent before 2007. The current top marginal rate of 59 percent kicks in at around $165,000. Married individuals have a lower maximum rate of 55.85 percent, compared with single taxpayers at 58.95 percent. Other notable taxes include a capital gains tax of 25 percent, along with health, pension and accident insurance premiums. With an array of social security taxes, Aruba is known to have one of the highest living standards in the Caribbean.

The small island’s exceptionally high tax rate is also much higher than the Caribbean average of 26.7 percent. Islands like the Bahamas, Bermuda and Cayman Islands have no personal income taxes. The closest to Aruba in terms of income tax rates are neighboring South American countries Argentina, Colombia, Ecuador, Guatemala and Venezuela, which have maximum tax rates ranging between 31 percent and 40 percent, according to KPMG.

Pictured: Oranjestad, Aruba -- Best Countries For Long-Term Growth less