OECD Publication Shows Increasing Tax Revenues, Shift Towards Corporate and Consumption Taxes

OECD Publication Shows Increasing Tax Revenues, Shift Towards Corporate and Consumption Taxes: According to the 2018 edition of the Revenue Statistics publication released by the Organization for Economic Co-operation and Development (OECD), tax revenues in advanced economies have continued to increase, with taxes on companies and personal consumption representing an increasing share of total tax revenues. The publication indicates that the OECD average tax-to-GDP ratio rose slightly in 2017, to 34.2%, compared to 34.0% in 2016. The OECD average is now higher than at any previous point, including its earlier peaks of 33.8% in 2000 and 33.6% in 2007.