We offer a range of high quality accounting, financial and business services in and around Milton Keynes.

OECD suggests tax revenues 'have reached a plateau'

10 Dec 2019

In a new report, the Organisation for Economic Co-operation and Development (OECD) has suggested that tax revenues in advanced economies have 'reached a plateau'.

The OECD stated that the plateau has ended the trend of annual increases in the tax-to-GDP ratio experienced during the 2008 financial crisis. The tax-to-GDP ratio amounted to 34.3% in 2018 – almost unchanged since 2017, when a figure of 34.2% was recorded.

Decreases in tax revenues were experienced across a handful of countries, including Hungary and Israel. A further 19 OECD countries reported increased tax-to-GDP ratios in 2018, including Korea and Luxembourg.

France, Denmark, Belgium and Sweden had tax-to-GDP ratios above 43%, whilst Mexico, Chile, Ireland, the US and Turkey recorded ratios under 25%. The UK's ratio totalled 33.5%.

The report also revealed that corporate tax revenues continued to increase, rising to 9.3% of total tax revenues across the OECD. This marks the first time corporate income tax revenues have exceeded 9% of total tax revenues since 2008.

The OECD's full report can be found here.

Register

Why not register to receive our monthly newswire? This is packed full of essential business news and handy tax tips to help save you money.

Learn more

Tax Calendar

Our handy tax calendar provides an overview of the key tax dates for your diary.

Learn more

Calculators

B2B’s interactive tax calculators can be used to calculate VAT due, the taxable benefits on your company car and how much your savings are worth.

Learn more

Home | About us | Contact us | Logon | Register | Accessibility | Disclaimer | Help | Site map |

© 2020 B2B Business Advisors Limited. All rights reserved.

We use cookies on this website, you can find more information about cookies here.
Chartered Tax Adviser

Registered in England, Company Registration number – 7906656. Registered Office – 58b High Street, Stony Stratford, Milton Keynes, MK11 1AQ. Registered with the Chartered Institute of Taxation as a firm of Chartered Tax Advisers. Registered to carry out audit work and regulated for a range of investment business activities by the Institute of Chartered Accountants in England and Wales.