Under the yearly cycle of economic policy coordination set up by the European Commission (the ‘European Semester’), the Annual Growth Survey makes the following recommendations for ‘growth friendly’ tax reforms:
broadening tax bases and removing ill-targeted exemptions;
shifting the tax burden away from labour, in particular for low skilled and young workers, towards tax bases linked to consumption, property and pollution; and
improving tax compliance through fighting tax evasion, coordinated action to tackle aggressive tax planning and tax havens, ensuring greater efficiency of tax administration and simplifying tax compliance procedures.
Eurostat, the statistical office of the European Union, has published a report on the taxation trends in the EU.
The report finds that that overall tax-to-GDP ratio has gone up from 38% in 2011 to 39.4% in 2012. The tax burden varies significantly between member states ranging from less than 30% of GDP in Lithuania, to 35.8% in the UK (representing a fall of 0.4% since 2011), 45% in France and 48.1% in Denmark.
The largest source of tax revenue in the EU remains labour taxes, representing more than half of total receipts in 2012 (51%), followed by consumption taxes (28.5%) and taxes on capital (20.8%).
Eurostat, the statistical office of the European Union, has published a report on the taxation trends in the EU. The report finds that that overall tax-to-GDP ratio has gone up from 38% in 2011 to 39.4% in 2012. The tax burden varies significantly between member states ranging from less than 30% of GDP in Lithuania, to 35.8% in the UK (representing a fall of 0.4% since 2011), 45% in France and 48.1% in Denmark.
The largest source of tax revenue in the EU remains labour taxes, representing more than half of total receipts in 2012 (51%), followed by consumption taxes (28.5%) and taxes on capital (20.8%).
Under the yearly cycle of economic policy coordination set up by the European Commission (the ‘European Semester’), the Annual Growth Survey makes the following recommendations for ‘growth friendly’ tax reforms:
broadening tax bases and removing ill-targeted exemptions;
shifting the tax burden away from labour, in particular for low skilled and young workers, towards tax bases linked to consumption, property and pollution; and
improving tax compliance through fighting tax evasion, coordinated action to tackle aggressive tax planning and tax havens, ensuring greater efficiency of tax administration and simplifying tax compliance procedures.
Eurostat, the statistical office of the European Union, has published a report on the taxation trends in the EU.
The report finds that that overall tax-to-GDP ratio has gone up from 38% in 2011 to 39.4% in 2012. The tax burden varies significantly between member states ranging from less than 30% of GDP in Lithuania, to 35.8% in the UK (representing a fall of 0.4% since 2011), 45% in France and 48.1% in Denmark.
The largest source of tax revenue in the EU remains labour taxes, representing more than half of total receipts in 2012 (51%), followed by consumption taxes (28.5%) and taxes on capital (20.8%).
Eurostat, the statistical office of the European Union, has published a report on the taxation trends in the EU. The report finds that that overall tax-to-GDP ratio has gone up from 38% in 2011 to 39.4% in 2012. The tax burden varies significantly between member states ranging from less than 30% of GDP in Lithuania, to 35.8% in the UK (representing a fall of 0.4% since 2011), 45% in France and 48.1% in Denmark.
The largest source of tax revenue in the EU remains labour taxes, representing more than half of total receipts in 2012 (51%), followed by consumption taxes (28.5%) and taxes on capital (20.8%).
.jpg?sfvrsn=335a554c_0 "300 x 250 (MPU)")