France tops OECD list of most taxed countries

BC-France’s-Tax-Burden-Now-the-Highest-of-Any-OECD-Country

The United States tax level equaled 27.1 percent of GDP in 2017, well below the 36-nation OECD average.

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 a year ago, according to a report published Wednesday. Korea stood ninth in terms of taxes on property, with the tax-to-GDP ratio at 3.1 percent, higher than the OECD average of 1.9 percent.

The French government's tax revenues were equivalent to 46.2% of its economic output, up from 45.5% in 2016 and 43.4% in 2000.

France's high tax burden is a source of resentment among voters. The "yellow jacket" protest started as a peaceful opposition to President Emanuel Macron's plan to increase taxes on gas and diesel fuel by 2.9 cents and 6.5 cents a liter, respectively, which opponents said would disproportionately affect people already disadvantaged by low wages and unemployment. The OECD's analysis includes federal, state and local taxes.

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Overall, tax-to-GDP ratio rose slightly last year to 34.2 percent, compared to 34 percent the year prior - a higher average than any other year since the global policy forum began tracking it, according to the OECD.

Mexico had the lowest overall tax burden at 16.2 percent, the OECD said.

In particular, in the period 2007-17, the increase in taxes in Greece was of the order of 8.2 points of GDP, while during the Memorandums, tax revenues increased from 32% to 39.4% of GDP.

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