Greece records third highest tax ratio increase in OECD
ANA/MPA – Greece recorded the third highest tax ratio increase among OECD countries in the 2013-2014 period, with an 1.5 percentage point increase, following Denmark (3.3 percentage points) and Icreland (2.8 percentage points), 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 pct to 35.9 pct between 2007 and 2014. Two other countries; Denmark and Turkey showed increases of more than 4 percentage points over the same period. The largest falls were in Norway (1.4 percentage points) and Czech Republic (0.8 percentage points). Luxembourg and Turkey showed falls of 0.6 percentage points.
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 pct to 2.8 pct of gross domestic product (GDP) over the 2007-14 period. Revenues from individual income tax grew from 8.8 pct to 8.9 pct and VAT revenues grew from 6.5 pct to 6.8 pct over the same period.