Unlike the OECD, the IMF does not classify social security contributions as a tax. These estimates are not directly comparable to OECD statistics. Estimates for China, Hong Kong and Singapore have been prepared using the IMF’s Government Finance Statistics, while estimates for India have been prepared using the CMIE database. Note: Taxes on income are based on the OECD (series 1000) and IMF classifications (series 11). Total tax revenue as a percentage of GDP, OECD and selected Asian economies, 2012Ĭhart 2.3 Taxes on corporate and personal income as a percentage of total taxation, OECD and selected Asian economies, 2012 The six non-OECD Asian economies listed had a lower tax to GDP ratio than Australia. Mexico, Chile, United States, South Korea and Switzerland had lower tax to GDP ratios than Australia and Ireland had a similar tax to GDP ratio as Australia. Of the OECD countries, Australia has the equal sixth lowest tax to GDP ratio (27.3 per cent). ![]() This chart shows total taxation (including social security contributions) as a ratio of GDP across the 34 OECD countries and six other Asian economies (China, Malaysia, India, Singapore, Hong Kong and Indonesia) in 2012. Source: OECD 2014, Revenue Statistics 2014, OECD Publications, Paris OECD 2014, Revenue Statistics in Asian Countries: Trends in Indonesia and Malaysia, OECD Publications, Paris International Monetary Fund (IMF) 2014, Government Finance Statistics Yearbook, viewed 21 January 2015. Statistics for China are for 2011 and for India are for 2011-12. To improve comparability with OECD statistics, tax-to-GDP ratios for China, Hong Kong, Singapore and India are calculated using IMF data but inclusive of social security contributions. ![]() Note: Tax-to-GDP statistics for China, Hong Kong, Singapore and India have been prepared using the IMF’s Government Finance Statistics and are not directly comparable to OECD statistics. Taxes on goods, services and activities ($billion)Ĭhart 2.2 Total tax revenue as a percentage of GDP, OECD and selected Asian economies, 2012 Income, labour and payroll taxes ($billion) State and local government taxation was comprised of property taxes ($36 billion), payroll taxes ($21 billion) and taxes on goods, services and activities ($21 billion).Ĭomposition of Australia’s Commonwealth and State and local taxes, 2012-13 Commonwealth Government taxation was largely comprised from income taxes ($242 billion out of $338 billion). This chart shows that Commonwealth tax revenue was over four times higher than state and local government tax revenue in 2012-13 (the latest year of data available). Source: Australian Bureau of Statistics (ABS) 2014, Taxation Revenue, Australia, 2012-13, cat. ![]() Federal ‘Taxes on goods, services and activities’ includes the goods and services tax revenue. Note: Under the Australian System of Government Financial Statistics,6 royalty income is not a form of taxation and is included in the property income category along with interest income and dividends. Chart 2.1 Composition of Australia’s Commonwealth and State and local taxes, 2012-13
0 Comments
Leave a Reply. |
AuthorWrite something about yourself. No need to be fancy, just an overview. ArchivesCategories |