TAX AS A SHARE of economic output, or GDP, has fallen to its lowest levels since the 1990s across the world, according to the OECD.
The OECD said that the UK is one of only seven countries that has seen its tax burden fall for three consecutive years.
The economic body revealed yesterday that its latest study shows that the tax burden has fallen markedly from35.4% o2007 to 33.7% in 2009.
A staement from the OECD said: “Tax revenues fell in cash terms during 2009 in most OECD countries, driven downward by declining economic activity and tax cuts aimed at cushioning the effects of the recession that followed the financial crisis”
The country with the largest tax burden is Denmark which reached 48.2% in 2009.
Does Darwin's theory apply to taxation? Colin ponders...
The UK tax gap fell in 2014-15 to its lowest-ever level of 6.5%, revealed official statistics published today
Changes to the tax system is urged to support the growth of entrepreneurs, found a report from the Grant Thornton UK, the Institute of Directors, and the Prelude Group
The EC has been instructed to draft a European Union (EU) directive authorising an EU financial transaction tax, which would apply to ten of the EU’s 28 member states