Increase in amount of total tax revenues in comparison to GDP in the developed countries is registered in 25 out of 32 OECD countries under analysis. It is noteworthy that for the remaining 7 countries the share of tax revenue as percentage of GDP fell.
Nowadays, the European countries have the highest tax revenues: Denmark (46.6%), France (45.5%), Belgium (44.8%), Finland (44%), and Austria (43.5%).
Besides the five mentioned above leaders, the top 10 OECD countries with the biggest tax revenues include: Italy and Sweden (43.3%), Hungary (39.4%), Norway (38.1%), the Netherlands (37,8%), Iceland (37.1%).
However, these countries are not in financial distress: the biggest tax burdens were registered in Greece - by 5.6 points (due to the crisis and, as a consequence, reduce of the country's GDP), Mexico (2,3 points) and Turkey (1,5 points).
Ireland's total tax revenue as a percentage of GDP declined by 5.1 points. Experts link this to the development of the economy as a result of the transition of intangible assets of such international companies like Apple and Facebook to the state jurisdiction.
This year, the top 5 OECD countries with the biggest income tax as a percentage of GDP are: Denmark (29.2%), New Zealand (18.1%), Iceland (17.5%), Belgium (16%) and Sweden (15.5%).
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