The OECD stresses the importance of its BEPS project, as latest figures show corporate tax revenues falling since the financial crisis, while individual taxpayers are put under greater pressure through higher income taxes, social security contributions and VAT to ensure that governments meet fina
The OECD stresses the importance of its BEPS project, as latest figures show corporate tax revenues falling since the financial crisis, while individual taxpayers are put under greater pressure through higher income taxes, social security contributions and VAT to ensure that governments meet financing requirements.
Average revenues from corporate incomes and gains fell from 3.6% to 2.8% of GDP over the 2007–14 period. Revenues from individual income tax grew from 8.8% to 8.9% and VAT revenues grew from 6.5% to 6.8% over the same period. The OECD average standard VAT rate has increased to a record high, rising from 17.7% in 2008 to 19.2% in 2015.
Pascal Saint-Amans, director of the OECD Centre for Tax Policy and Administration said: ‘Corporate taxpayers continue finding ways to pay less, while individuals end up footing the bill. The great majority of all tax rises seen since the crisis have fallen on individuals through higher social security contributions, value added taxes and income taxes. This underlines the urgency of efforts to ensure that corporations pay their fair share.’
The OECD stresses the importance of its BEPS project, as latest figures show corporate tax revenues falling since the financial crisis, while individual taxpayers are put under greater pressure through higher income taxes, social security contributions and VAT to ensure that governments meet fina
The OECD stresses the importance of its BEPS project, as latest figures show corporate tax revenues falling since the financial crisis, while individual taxpayers are put under greater pressure through higher income taxes, social security contributions and VAT to ensure that governments meet financing requirements.
Average revenues from corporate incomes and gains fell from 3.6% to 2.8% of GDP over the 2007–14 period. Revenues from individual income tax grew from 8.8% to 8.9% and VAT revenues grew from 6.5% to 6.8% over the same period. The OECD average standard VAT rate has increased to a record high, rising from 17.7% in 2008 to 19.2% in 2015.
Pascal Saint-Amans, director of the OECD Centre for Tax Policy and Administration said: ‘Corporate taxpayers continue finding ways to pay less, while individuals end up footing the bill. The great majority of all tax rises seen since the crisis have fallen on individuals through higher social security contributions, value added taxes and income taxes. This underlines the urgency of efforts to ensure that corporations pay their fair share.’
