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Greece Records Third Highest Tax Ratio Increase in OECD

taxesGreece recorded the third highest tax ratio increase among OECD countries in the 2013-2014 period, with an 1.5% increase, following Denmark (3.3%) and Iceland (2.8%), the Organization for Economic Cooperation and Development said on Thursday.
In its annual Revenue Statistics publication, the Paris-based organization said that the tax burden in Greece increased from 31.2% to 35.9% between 2007 and 2014. Two other countries; Denmark and Turkey showed increases of more than 4% over the same period. The largest falls were in Norway (1.4%) and Czech Republic (0.8%). Luxembourg and Turkey showed reductions of 0.6%.
Corporate tax revenues have been falling across OECD countries since the global economic crisis, putting greater pressure on individual taxpayers to ensure that governments meet financing requirements, according to new data from the OECD’s annual publication.
Average revenues from corporate incomes and gains fell from 3.6% to 2.8% of gross domestic product (GDP) over the 2007-14 period. Revenues from individual income tax grew from 8.8% to 8.9% and VAT revenues grew from 6.5% to 6.8% over the same period.
(Source: ANA-MPA)

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