Monday, 10 December, 2018

Denmark no longer has OECD's highest tax revenues

France Has Highest Taxes of Any Wealthy Country, Says OECD France tops OECD list of most taxed countries
Jean Garcia | 08 December, 2018, 20:16

According to a research by the organization showing annual review of taxes in 2017, Korea's tax-to-GDP ratio marked 26-point-9 percent, . lower than the OECD average of 34-point-2 percent.

The OECD on Wednesday released preliminary 2017 data on its 36 member countries' tax revenue in comparison to gross domestic product (GDP).

Though up only slightly from 34.0 percent in 2016, the figure was the highest average overall tax take since the worldwide policy forum's records began in 1965, it said. French Prime Minister Edouard Philippe on Tuesday postponed a proposed hike in the country's tax on gas and diesel fuel, meant to encourage more usage of electric vehicles. Countries with high income and profit taxes included Denmark (29.1 percent) and Iceland (18.6 percent), while those with low taxes were Turkey (5.3 percent) and Lithuania (5.4 percent).

With an overall tax revenue of 46.2 percent of GDP, France moves above Denmark, which has a corresponding figure of 46.0 percent of GDP - down from 46.2 percent the previous year.

Lingard insists Man Utd squad good enough for top 4
Lucas Torreira is an example for Arsenal players due to his high level of physical condition , according to Unai Emery. Dalot's quick adaptation to life in Manchester has no doubt been aided by his near-flawless English.

In particular, in the period 2007-17, the increase in taxes in Greece was of the order of 8.2 points of GDP, while during the Memorandums, tax revenues increased from 32% to 39.4% of GDP.

The United States saw the second-biggest increase in 2017 - 1.3 percentage points to 27.1 percent of GDP, which the OECD said was partly due to a one-off repatriation of tax on companies' foreign earnings.

Mexico had the lowest overall tax burden at 16.2 percent, the OECD said.

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