New figures show European tax rates far above US, Japan

(BRUSSELS) - New figures released on Monday showed that European Union citizens are taxed far more heavily than US or Japanese counterparts.

The overall tax-to-GDP ratio for 2008, the first year of the financial crisis, was 39.3 percent, a slight fall on the previous year, Eurostat said.

That compared with 26.9 percent in the United States, using 2007 figures, and a provisional estimate of 28.3 percent in Japan.

However, the rates vary widely within Europe -- ranging from 28 percent in Romania to 48.2 percent in Denmark.

Further details - Eurostat