France Has Highest Taxes of Any Wealthy Country, Says OECD

08 Décembre, 2018, 20:17 | Auteur: Auguste Feret
  • Chart of the Day The Most Taxed Countries                 

     

     Wikimedia Commons

France overtook Denmark as the most taxed country in 2017 as government tax revenues in developed countries hit a record high, the OECD said, data which may do little to help President Emmanuel Macron placate protesters angered over living costs.

Another interesting element is that most countries in the world have been reducing their tax rates since 2014, in terms of both direct and indirect taxation, maintaining high revenues. At the same time, taxes on goods and services reached 15.4% of GDP or 39.1% of total taxes.

Therefore, in Greece, especially in the period from 2015 to 2017 - and against the global trend - taxes and social security contributions increased disproportionately, making Greece the country with the steepest tax increase in that period, from 35.7 to 39.4 percent of GDP.

Israel saw the biggest increase - 1.4 percentage points to 32.7 percent of GDP - due to a number of policy changes affecting taxes on income and profit.

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South Korea ranked 32nd out of the 36 nations with a tax to GDP ratio of 26-point-nine percent, lower than the OECD average of 34-point-two.

Beyond that, in 2010 real estate taxes accounted for only 0.2% of GDP or close to Euro 600 million. The latest data for 2017 shows real estate taxes six times over in absolute terms, at Euro 3.7 billion.

But if the so-called Yellow Vests movement wants to push now for a full cancellation of the increase, it just got some data to support its case: France had the highest tax burden across the 34 OECD nations previous year, according to a report published Wednesday. Twenty years later, in 1995, it was again below the average of the 34 OECD countries (25.2% vs. 31.9%).

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