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France tops OECD list of most taxed countries

08 December 2018

Just as protests in Paris were starting to quiet down, the Organization for Economic Cooperation and Development released new research showing that France won first place in its ranking of wealthy countries by tax rate.

With an overall tax revenue of 46.2 percent of GDP, France moves above Denmark, which has a corresponding figure of 46.0 percent of GDP - down from 46.2 percent the previous year.

In the total tax burden, in 2017 Greece scores 39.4% of GDP when the OECD average is 34.2% of GDP.

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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.

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.

High taxes in France have been the source of discontent and unrest among residents. French Prime Minister Edouard Philippe on Tuesday postponed a proposed hike in the country's tax on gas and diesel fuel, meant to encourage more usage of electric vehicles.

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Mexico had the lowest overall tax burden at 16.2 percent, the OECD said.

In the years 2016-2017, Greece ranked seventh in tax hikes, with taxes on incomes and corporate profits reaching 9 percent of GDP and accounting for 22.8 percent of all state revenues.

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France tops OECD list of most taxed countries