Denmark no longer has OECD's highest tax revenues

Denmark no longer has OECD’s highest tax revenues

France Has Highest Taxes of Any Wealthy Country, Says OECD

France took the top spot away from Denmark in 2017 in the OECD's annual review of taxes in its 36 member countries.

Though up only slightly from 34.0 percent in 2016, the figure was the highest average overall tax take since the global policy forum's records began in 1965, it said.

But if the so-called Yellow Vests movement wants to push now for a full cancellation of the increase, it just got some data to support its case: France had the highest tax burden across the 34 OECD nations past year, according to a report published Wednesday.

Total French tax revenues rose in 2017 to the equivalent of 46.2 percent of economic output, pushing France ahead of Denmark, the most taxed nation in 2016.

High taxes in France have been the source of discontent and unrest among residents. A public rebellion dubbed the "yellow vest" movement erupted in mid-November in anger at high fuel taxes and the punishing cost of living.

French President Emmanuel Macron this week suspended an unpopular increase in fuel taxes to quell protests against the hike. Korea paid relatively less tax on income and profits, with the tax-to-GDP ratio standing at 8.6 percent to finish 25th.

The tax-to-GDP ratio rose in 19 of the 34 OECD countries that provided data for 2017, and the OECD average is higher than ever.

Korea's tax burden is lower than the United States at 27 percent and Japan 30-point-six percent.

Taxes in Korea were found to be relatively less burdensome previous year compared to other OECD countries.

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