OECD says tax take up in most economies

The average tax revenue-to-output ratio rose in 21 of 30 countries surveyed last year, the Organisation for Economic Co-operation and Development says.

Traders work on the floor of the New York Stock Exchange

The OECD says the average tax revenue-to-output ratio rose in 21 of 30 countries surveyed last year. (AAP)

Tax revenues in the world's top economies rose last year to the highest levels since the global downturn in 2008-2009, the OECD says, suggesting a gradual recovery.

The average tax revenue-to-output ratio in the 30 leading economies measured by the Organisation for Economic Co-operation and Development was 34.6 per cent in 2012, compared to 34.1 per cent and 33.8 per cent in the two years before that.

Tax revenues tend to rise in times of economic recovery as businesses expand, paying more corporate taxes and wages improve, meaning consumers pay more tax to the government.

The tax take ratio rose in 21 of the 30 countries surveyed.

The largest increases occurred in Hungary, Greece, Italy and New Zealand, the OECD said.

The highest "fiscal pressure" among OECD countries was in Denmark where the tax-to-GDP ratio stood at 48 per cent in 2012.


Share

1 min read

Published

Updated

Source: AAP


Share this with family and friends


Get SBS News daily and direct to your Inbox

Sign up now for the latest news from Australia and around the world direct to your inbox.

By subscribing, you agree to SBS’s terms of service and privacy policy including receiving email updates from SBS.

Follow SBS News

Download our apps

Listen to our podcasts

Get the latest with our News podcasts on your favourite podcast apps.

Watch on SBS

SBS World News

Take a global view with Australia's most comprehensive world news service

Watch now

Watch the latest news videos from Australia and across the world