TaxAdministrationTaxes rising in developing world

Taxes rising in developing world

Tax collectors are raiding the developed world's economies for a diminishing slice of national incomes, according to an Organisation for Economic Cooperation and Development study.

Link: EU triggers clash over tax laws

The study claims that rich country public revenues commanded a smaller proportion of GDP on average last year, compared with 2001 (40.5% and 41% respectively).

Its latest Revenue statistics bulletin said that this was the second annual decline following a five-year rise, and could be explained by tax cuts and the global economic slowdown. Britain was one of seven countries seeing tax-take proportions decline by more than 1% (37.3% to 35.9%) alongside Austria, Hungary, Canada, Ireland, Greece and Turkey.

For the full study, see www.oecd.org

Related Articles

HMRC appeal rejected in Tottenham Hotspur case

Administration HMRC appeal rejected in Tottenham Hotspur case

2w Emma Smith, Managing Editor
HMRC issues updated Trusts Registration Service guidance

Administration HMRC issues updated Trusts Registration Service guidance

2w Emma Smith, Managing Editor
New trading allowance: simplicity, but not as we know it

Administration New trading allowance: simplicity, but not as we know it

2m Emma Rawson, ATT Technical Officer
‘Improve rather than lose’ disincorporation relief, tax body urges

Administration ‘Improve rather than lose’ disincorporation relief, tax body urges

2m Austin Clark, Reporter
Are you ready for the Trusts Registration Service?

Administration Are you ready for the Trusts Registration Service?

3m Helen Thornley, ATT Technical Officer
Advisers bullish despite Brexit concerns

Accounting Standards Advisers bullish despite Brexit concerns

1y Fraser Simpson, Reporter
Brexit: Five questions accountants should be asking

Accounting Firms Brexit: Five questions accountants should be asking

1y Fraser Simpson, Reporter
UK votes to leave EU – accountancy profession reacts

Accounting Firms UK votes to leave EU – accountancy profession reacts

1y Fraser Simpson, Reporter