OECD report tax take rise
Tax revenues derived from personal and corporate taxes has shot up in developed countries reflecting strong economic growth, according to new research by the Organisation for Economic Co-operation and Development.
Reversing a declining trend from 1990 to 1996, the OECD average in tax take increased from 13.2% in 1997 to 13.5% in 1998. From 1997 to 1998 17 of the 29 OECD countries saw a rise in the share of these taxes in GDP.
The rise in revenues from income taxes was the main factor behind an increase in the OECD average ratio of total tax revenue to GDP from 36.8% in 1996 and 1997 to 37.0% in 1998, according to the OECD’s report, Revenue Statistics.
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