New Zealanders and Chileans Face Lowest Tax Burden
April 13, 2017 International Tax Cooperation
The Organization for Economic Cooperation and Development has released its annual Taxing Wages report, detailing the tax burden faced by individual taxpayers across different countries.
The country with the lowest tax burdens for single individuals was found to be Chile, with a tax burden of 7 percent, while the next lowest countries were New Zealand and Mexico with 17.9 percent and 20.1 percent respectively.
The countries with the highest tax burdens were Germany, Hungary and France, with tax burdens of 49.4 percent, 48.2 percent, and 48.1 percent respectively.
The average rate of the tax burden on labour income across all the countries of the OECD dropped for the third year in a row, with the decrease being attributed to continued reforms by many countries to drop the tax burden on labor income.
Greece was the only OECD country to see an increase in its tax burden on individuals’ labor income, with a percentage increase of 1.06 percent.