Tax equivalent to GDP in developed countries has reached a new high

                                                                                    INQUIRY

      The Organisation for Economic Co-operation and Development (OECD) said that tax revenue in developed countries hit a record high in 2017, with France taking the place of Denmark as the top country; the data could hardly help French President Mark Long to calm protestors'anger over the rising cost of living.
The OECD said Wednesday that the overall average government tax equivalent to gross domestic product reached 34.2% in 34 member countries last year.
This is only slightly higher than 34.0% in 2016, but the OECD says it is the highest since records began in 1965.
France's tax revenue rose to 46.2% of GDP, surpassing Denmark's, which dropped to 46.0%.
France's high tax burden is one of the reasons why voters complain. In mid-November, the country's "yellow vest" protests were aimed at fighting high fuel taxes and heavy cost of living. Protests sometimes turned violent, especially in Paris.
On Tuesday, the French President Markon's government announced a suspension of plans to raise fuel taxes for at least six months in an attempt to calm the escalating crisis.
According to the OECD, the share of government revenue in 19 member countries rose last year, while that in 16 member countries declined.
Israel's share grew the most, rising 1.4 percentage points to 32.7% of GDP, attributable to a series of policy adjustments affecting income and profit taxes.
The United States ranked second with a rise of 1.3 percentage points to 27.1% of GDP, which OECD said was partly attributed to a one-time tax on returned profits.
According to the OECD, Mexico has the lightest overall tax burden, accounting for only 16.2%.


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