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...
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
Click NEXT to see the top 10 countries...
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
...
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
...
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
...
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
...
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
...
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
...
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
...
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
...
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
...
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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