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.
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10 countries with highest tax ratio
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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10 countries with highest tax ratio
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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10 countries with highest tax ratio
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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10 countries with highest tax ratio
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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10 countries with highest tax ratio
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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10 countries with highest tax ratio
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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10 countries with highest tax ratio
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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10 countries with highest tax ratio
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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10 countries with highest tax ratio
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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10 countries with highest tax ratio
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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10 countries with highest tax ratio
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
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