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10 countries with highest tax ratio

Last updated on: September 13, 2011 09:42 IST

10 countries with highest tax ratio

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While some countries, mainly in Europe, have high taxes, there are some that have low tax-GDP ratio.

Let us have a look at top 10 countries with highest tax-GDP ratio.

The rankings are NOT based on just income tax or corporate tax, but on overall share of taxes in the country's GDP.

The Organization for Economic Cooperation and Development looks at internationally comparative data based on public revenue from tax contributions as a percentage of gross domestic product for each country, then ranks them based on the highest and lowest overall tax rates.

Click NEXT to see where India stands...


Image: Taxes vary across the world.

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India

Tax rate as percentage of GDP: 10

GDP: $1.53 trillion

Total population: 1.2 billion

Life expectancy: 66.8

Unemployment: 9.4 per cent

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Image: India has a tax-GDP ratio of little above 10 per cent.

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1. Denmark

Tax rate as percentage of GDP: 48.2

GDP: $309.60 billion

Total population: 5.5 million

Life expectancy: 79

Unemployment: 3.3 per cent

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Image: Denmark has the highest tax-GDP ratio.

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2. Sweden

Tax rate as percentage of GDP: 46.4

GDP: $406.07 billion

Total population: 9.3 million

Life expectancy: 81

Unemployment: 6.2 per cent

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Image: Sweden has a population of 9.3 million.

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3. Italy

Tax rate as percentage of GDP: 43.5

GDP: $2.30 trillion

Total population: 60.2 million

Life expectancy: 82

Unemployment: 6.7 per cent

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Image: Tax rate as percentage of GDP in Italy is 43.5.

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4. Belgium

Taxes as percentage of GDP: 43.2

GDP: $471.16 billion

Total population: 10.8 million

Life expectancy: 80

Unemployment: 7.0 per cent

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Image: Life expectancy in Belgium is 80.

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5. Finland

Tax rate as percentage of GDP: 43.1

GDP: $237.99 billion

Total population: 5.3 million

Life expectancy: 80

Unemployment: 6.4 per cent

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Image: Unemployment in Finland is 6.4 per cent.

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6. Austria

Tax rate as percentage of GDP: 42.8

GDP: $381.08 billion

Total population: 8.4 million

Life expectancy: 80

Unemployment: 3.8 per cent

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Image: Tax rate as percentage of GDP in Austria is 42.8.

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7. France

Tax rate as percentage of GDP: 41.9

GDP: $2.85 trillion

Total population: 62.6 million

Life expectancy: 82

Unemployment: 7.4 per cent

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Image: Total population of France is 62.6 million.

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8. Norway

Tax rate as percentage of GDP: 41.0

GDP: $381.77 billion

Total population: 4.8 million

Life expectancy: 81

Unemployment: 2.6 per cent

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Image: Tax rate as percentage of GDP in Norway is 41.0.

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9. Hungary

Tax rate as percentage of GDP: 39.1

GDP: $128.96 billion

Total population: 10.0 million

Life expectancy: 74

Unemployment: 7.8 per cent

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Image: Life expectancy in Hungary is 74.

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10. Slovenia

Tax rate as percentage of GDP: 37.9

GDP: $48.48 billion

Total population: 2.0 million

Life expectancy: 79

Unemployment: 4.4 per cent


Image: GDP of Slovenia is $48.48 billion.

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