External Debt of Countries

External Debt

A different statistics is external debt, this the amount of debt a country owes to other countries. It includes both the private and public sector debt. 

List of External Debt by Country

Rank	Country	External debt US dollars		Debt in Per  capita $US	% of GDP
1	United States	14,300,000,000,000		45,097	95
—	EU	13,720,000,000,000		27,864	85
2	UK	8,981,000,000,000		144,338	400
3	Germany	4,713,000,000,000		57,755	142
4	France	4,698,000,000,000		74,619	182
5	Netherlands	3,733,000,000,000		225,814	471
6	Japan	2,441,000,000,000		19,148	45
7	Ireland	2,253,000,000,000		503,914	1,103
8	Norway	2,232,000,000,000		454,768	538
9	Italy	2,223,000,000,000		36,841	108
10	Spain	2,166,000,000,000		47,069	154
11	Luxembourg	1,892,000,000,000		3,746,535	3,443
12	Belgium	1,241,000,000,000		113,603	266
13	Switzerland	1,200,000,000,000		154,063	229
14	Australia	1,169,000,000,000		52,596	95
15	Canada	1,009,000,000,000		29,625	64
16	Sweden	853,300,000,000		91,487	187
17	Austria	755,000,000,000		90,128	200
—	Hong Kong	750,800,000,000		105,420	334
18	Denmark	559,500,000,000		101,084	180
19	Greece	532,900,000,000		47,636	174
20	Portugal	497,800,000,000		46,795	217
21	Russia	480,200,000,000		3,421	33
22	China	406,600,000,000		303	7
23	Finland	370,800,000,000		68,960	155
24	South Korea	370,100,000,000		7,567	37
25	Brazil	310,800,000,000		1,608	15
26	Turkey	270,700,000,000		3,794	36
27	Polan	252,900,000,000		6,639	54
28	India	237,100,000,000		195	15
29	Mexico	212,500,000,000		1,956	20
30	Indonesia	196,100,000,000		837	28
31	Argentina	160,900,000,000		3,971	43
32	Hungary	148,400,000,000		14,821	115
33	UAE	122,700,000,000		24,273	41
34	Romania	108,900,000,000		5,082	67
35	Ukraine	97,500,000,000		2,144	71
36	Kazakhstan	94,440,000,000		6,060	68
37	China	91,410,000,000		3,918	21
38	Israel	89,680,000,000		12,070	42
39	Czech Republic	86,790,000,000		8,260	45
40	Chile	84,510,000,000		4,916	42
41	Saudi Arabia	82,920,000,000		3,176	19
42	Thailand	82,500,000,000		1,292	26
43	South Africa	80,520,000,000		1,613	23
44	Malaysia	72,600,000,000		2,570	31
45	Qatar	71,380,000,000		41,988	55
46	New Zealand	64,330,000,000		14,724	46
47	Philippines	59,770,000,000		636	32
48	Croatia	59,700,000,000		13,519	99
49	Slovakia	59,330,000,000		10,926	68
50	Colombia	57,740,000,000		1,269	20
51	Pakistan	57,210,000,000		343	33
52	Kuwait	56,810,000,000		15,754	43
53	Venezuela	55,610,000,000		1,906	19
54	Iraq	52,580,000,000		1,641	64
55	Slovenia	51,570,000,000		25,555	108
56	Bulgaria	47,150,000,000		6,261	99
57	Sudan	37,980,000,000		946	55
58	Latvia	37,280,000,000		16,584	155
59	Lebanon	34,450,000,000		8,815	88
60	Vietnam	33,450,000,000		379	32
61	Peru	33,290,000,000		1,126	22
62	Cyprus	32,610,000,000		37,812	129
63	Serbia	30,900,000,000		4,178	80
64	Egypt	30,610,000,000		391	14
65	Lithuania	27,600,000,000		8,381	76
66	Estonia	25,130,000,000		18,852	127
67	Belarus	24,800,000,000		2,629	45
68	Bangladesh	24,460,000,000		149	23
69	Morocco	22,690,000,000		712	22
70	Singapore	21,660,000,000		4,194	10
71	Cuba	19,750,000,000		1,780	34
72	Tunisia	18,760,000,000		1,779	42
73	Monaco	16,500,000,000		5,265	260
74	Angola	17,980,000,000		944	21
75	Sri Lanka	17,970,000,000		881	36
76	Guatemala	17,470,000,000		1,216	42
77	Ecuador	14,710,000,000		995	25
78	Bahrain	14,680,000,000		13,261	65
79	Panama	13,850,000,000		3,927	52
80	Congo	13,500,000,000		197	122
81	Uruguay	13,390,000,000		3,989	33
82	Dominican Republic	13,090,000,000		1,326	25
83	Iran	12,840,000,000		170	4
84	Jamaica	12,660,000,000		4,660	92
85	North Korea	12,500,000,000		544	N/A
86	Cote d’Ivoire	11,600,000,000		527	51
87	El Salvador	11,450,000,000		1,953	53
88	Nigeria	11,020,000,000		71	5
89	Oman	8,829,000,000		2,962	16
90	Costa Rica	8,550,000,000		1,874	24
91	Bosnia and Hersegovina	7,996,000,000		2,052	48
92	Kenya	7,935,000,000		200	25
93	Syria	7,682,000,000		373	13
94	Zimbabwe	7,662,000,000		609	103
95	Tanzania	7,576,000,000		183	33
96	Yemen	7,147,000,000		293	23
97	Burma	7,145,000,000		117	17
98	Ghana	6,483,000,000		274	21
99	Libya	6,378,000,000		972	9
100	Malta	5,978,000,000		14,233	72

Source: www.economicshelp.org

WHY TO FILE INCOME TAX RETURNS ???

File Your Income-Tax Returns in Time to Enjoy a Host of Benefits

Individuals, especially the salaried class, always ask: why should I file my income tax returns when all taxes have been already deducted from my salary?
Many assume that the filing of tax returns is a harrowing experience. There are some myths associated with these filings. A common fear is that the taxman comes knocking at the door if the tax returns is filed. The fact remains that each individual having taxable income has an obligation to file his/her incometax returns for the relevant financial year. The finance minister recently indicated that salaried employees earning below . 5 lakh and not having any other sources of income would be exempt from filing the income-tax returns.
The due date for filing tax returns by individuals depends on the category one belongs to. In case of individuals whose accounts are required to be compulsorily audited, the return is to be filed by 30 September. For the rest, July 31 is the due date.
BENEFITS OF TAX FILING Filing of tax returns ensures that the individual is compliant with the tax laws.
There are other benefits also. By staying within the time lines, the individual would be able to manage his financial affairs effectively. For instance:
    The acknowledgment for filing the tax returns would come in handy in case a visa is required to be obtained; the document would serve as proof of the financial soundness of the individual.
    If a loan is required to be obtained from a financial institution, the tax returns would be required to prove the ability of the person to repay the loan
    Excess taxes paid by an individual either by way of tax deduction or advance/self-assessment tax can be refunded only by filing tax returns.
CONSEQUENCES OF NON- FILING A default in complying with the regulations with respect to tax returns leads to interest liabilities and in some cases penalty as well. The default may be with respect to delayed filing, non-filing, incorrect income disclosure, etc. The individual is exposed to notices from the tax office, dealing with which could be a harrowing experience.
Consequences that are normally disregarded till too late deserve a special mention. An individual may lose out on an opportunity to revise the tax return if the return is not filed in time. Further, if an individual has a loss under one head of income, which cannot be set off against another, he may carry for

ward such losses to the subsequent financial years for future set-off. For instance, if the individual has loss from house property which could not be set off against any income during a financial year, he could declare the loss in the tax returns and carry forward the same to the following year.
In the succeeding year, if he has any income from house property, the loss may be utilised to set off against such rental income. The individual would lose this benefit if he has not filed the tax returns declaring such losses within the due date. This would have an impact on the tax liability as well.