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.
Text and Picture Copyright 2010 AFP. All other Copyright 2010 EUbusiness Ltd. All rights reserved. This material is intended solely for personal use. Any other reproduction, publication or redistribution of this material without the written agreement of the copyright owner is strictly forbidden and any breach of copyright will be considered actionable.