The Belgian standard VAT rate is 21.0%, which is above the OECD average. The average VAT/GST¹ standard rate in the OECD was 19.3% as of 1 January 2019. The previous standard VAT rate in Belgium was 20.5% in 1995. It changed to the current level in 1996. Belgium applies reduced VAT rates of 0%, 6% and 12% to a number of goods and services.

This country note explains how Belgium taxes energy use. The note shows the distribution of effective energy tax rates across all domestic energy use. It also details the country-specific assumptions made when calculating effective energy tax rates and matching tax rates to the corresponding energy base.

The tax wedge for the average single worker in Belgium decreased by 0.5 percentage points from 52.7 in 2018 to 52.2 in 2019. The OECD average tax wedge in 2019 was 36.0 (2018, 36.1). In 2019 Belgium had the highest tax wedge among the 36 OECD member countries, occupying the same position in 2018.

This country note explains how Indonesia taxes energy use. The note shows the distribution of effective energy tax rates across all domestic energy use. It also details the country-specific assumptions made when calculating effective energy tax rates and matching tax rates to the corresponding energy base.

The Sales Tax Rate in Isle Of Man stands at 20 percent. In Isle Of Man, the sales tax rate is a tax charged to consumers based on the purchase price of certain goods and services. The benchmark we use for the sales tax rate refers to the highest rate. Revenues from the Sales Tax Rate are an important source of income for the government of Isle Of Man. This page provides - Isle Of Man Sales Tax Rate | VAT - actual values, historical data, forecast, chart, statistics, economic calendar and news.

The Corporate Tax Rate in Isle of Man stands at 0 percent. In Isle of Man, the Corporate Income tax rate is a tax collected from companies. Its amount is based on the net income companies obtain while exercising their business activity, normally during one business year. The benchmark we use refers to the highest rate for Corporate Income. Revenues from the Corporate Tax Rate are an important source of income for the government of Isle of Man. This page provides - Isle of Man Corporate Tax Rate - actual values, historical data, forecast, chart, statistics, economic calendar and news.

The Personal Income Tax Rate in Isle of Man stands at 20 percent. Personal Income Tax Rate in Isle of Man averaged 19.29 percent from 2004 until 2020, reaching an all time high of 20 percent in 2010 and a record low of 18 percent in 2005. In Isle of Man, the Personal Income Tax Rate is a tax collected from individuals and is imposed on different sources of income like labour, pensions, interest and dividends. The benchmark we use refers to the Top Marginal Tax Rate for individuals. Revenues from the Personal Income Tax Rate are an important source of income for the government of Isle of Man. This page provides - Isle of Man Personal Income Tax Rate - actual values, historical data, forecast, chart, statistics, economic calendar and news.

This country note explains how India taxes energy use. The note shows the distribution of effective energy tax rates across all domestic energy use. It also details the country-specific assumptions made when calculating effective energy tax rates and matching tax rates to the corresponding energy base.

The Sales Tax Rate in Cyprus stands at 19 percent. Sales Tax Rate in Cyprus averaged 16 percent from 2000 until 2020, reaching an all time high of 19 percent in 2014 and a record low of 10 percent in 2001. In Cyprus, the sales tax rate is a tax charged to consumers based on the purchase price of certain goods and services. The benchmark we use for the sales tax rate refers to the highest rate. Revenues from the Sales Tax Rate are an important source of income for the government of Cyprus. This page provides - Cyprus Sales Tax Rate | VAT - actual values, historical data, forecast, chart, statistics, economic calendar and news.

Indonesia has improved its macro-economic and structural policies over the last 15 years. Its economy, with strong and stable growth rates of 5–6.6%, is catching up with other countries in the region and allowing Indonesia to focus on its development agenda.

Extensive structural reforms since the early 1990s have strengthened the resilience of the Swedish economy to shocks.

Income inequality in Colombia has declined since the early 2000s but remains very high by international standards. While most of the inequality originates from the labour market, wealth – and thus capital income – is also highly concentrated and the tax and transfer system has little redistributive impact.

The Colombian economy has done remarkably well over the last decade, consistently ranking among the fastest-growing countries in Latin America, but a comprehensive tax reform that promotes investment and diversifies the economy is now needed to put the country on a path toward stronger, sustainable and inclusive growth, according to the latest OECD Economic Survey of Colombia.

A UK exit from the EU would immediately hit confidence and raise uncertainty which would result in GDP being 3% lower by 2020, which equates to £ 2200 per household. The OECD states that such costs are already piling up in a new study released today.

Leaving Europe would impose a "Brexit tax" on generations to come. Instead of funding public services, this tax would be a pure deadweight loss, with no economic benefit, said OECD Secretary-General in London.

Governments should use tax policy to drive forward economic agendas that seek to boost growth while sharing the benefits more evenly within society, according to a new OECD report.

Indonesia has undergone an extraordinary transformation over the past two decades, benefiting from strong growth that has lifted millions out of poverty and allowed important progress in areas such as health and education. But low levels of public spending and tax revenue are undermining the quality of social services and exacerbating infrastructure gaps, according to the OECD.

Promoting inclusive growth in India requires improving social and physical infrastructure.

A combination of market-based policies and a redistributive welfare state have boosted Belgium’s per-capita GDP to well above the average of OECD countries and raised well-being, according to a new OECD report.

The personal tax system has a large influence on incentives to work, save and invest and hence growth. At the same time it is a key policy lever for income redistribution.

Can reforms that shift the balance among different taxes in the revenue mix lastingly influence the overall prosperity of an economy and the distribution of income across households?

Redistribution is quantified as the relative reduction in market income inequality achieved by personal income taxes, employees’ social security contributions and cash transfers, based on household-level micro data.

Many OECD countries have been facing a prolonged period of low growth and stagnating income of the poorest. This challenges governments’ fiscal redistribution, all the more so in a context where new forms of work are calling into question the effectiveness of traditional social safety nets and population ageing is putting pressure on public finances.

Finland raises a large amount of taxes to finance high-quality public services and redistribute income.

Slow productivity growth in advanced economies holds back income gains and therefore improvements in well-being.

Tax revenues in Latin American countries are lower as a proportion of their national incomes than in most OECD countries, but are rising slowly. Revenue Statistics in Latin America shows that the average tax revenue to GDP ratio in the 15 Latin American countries covered by the report increased from 19% in 2009 to 19.4% in 2010, after falling from a high point of 19.7% in 2008.

The Global Forum on Transparency and Exchange of Information for Tax Purposes has released peer review reports assessing the tax systems of 13 jurisdictions for information exchange.

Carbon taxes and emission trading systems are the most cost-effective means of reducing CO2 emissions, and should be at the centre of government efforts to tackle climate change,according to a new OECD study.

Tax revenues in Latin American countries continue to rise but are lower as a proportion of their national incomes than in most OECD countries. Revenue Statistics in Latin America 2012 shows that Argentina and Brazil have the highest tax revenue to GDP ratio, while Guatemala and Dominican Republic stand at the lower end.

Taxes on wages have risen by about 1 percentage point for the average worker in OECD countries between 2010 and 2014 even though the majority of governments did not increase statutory income tax rates, according to a new OECD report.

As part of continuing efforts to boost transparency by multinational enterprises (MNEs), Brazil, Guernsey, Jersey, the Isle of Man and Latvia signed today the Multilateral Competent Authority Agreement (MCAA) for the automatic exchange of Country-by-Country reports, bringing the total number of signatories to 49.

This note describes the taxation of energy use in Brazil. It contains the country’s energy tax profiles, followed by country-specific information to complement the general discussion in Taxing Energy Use 2018 (OECD, 2018).

The OECD and Brazil today launched a joint project to examine the similarities and gaps between the Brazilian and OECD approaches to valuing cross-border transactions between associated firms for tax purposes. The project will also assess the potential for Brazil to move closer to the OECD’s transfer pricing rules, which are a critical benchmark for OECD member countries and followed by countries around the world.

The 2017 OECD R&D tax incentive country profiles provide detailed information on the design features and cost of tax provisions used by countries to incentivise R&D performance by businesses, reporting on both long-term and recent trends.

This country note explains how Brazil taxes energy use. The note shows the distribution of effective energy tax rates across all domestic energy use. It also details the country-specific assumptions made when calculating effective energy tax rates and matching tax rates to the corresponding energy base.

Indonesia has improved its macro-economic and structural policies over the last 15 years. Its economy, with strong and stable growth rates of 5–6.6%, is catching up with other countries in the region and allowing Indonesia to focus on its development agenda.

Indonesia has come a long way in improving its tax system over the last decade, both in terms of revenues raised and administrative efficiency. Nonetheless, the tax take is still low, given the need for more spending on infrastructure and social protection.

Taxes and cash transfers reduce income inequality more in France than elsewhere in the OECD, because of the large size of the flows involved. But the system is complex overall. Its effectiveness could be enhanced in many ways, for example so as to achieve the same amount of redistribution at lower cost.

The tax burden in Switzerland is low in international comparison, largely reflecting the substantial non-tax compulsory contributions towards the health and pension systems which are managed by private institutions. Taxation of personal income and labour earnings is relatively high, whereas the taxation of consumption is low.

Ensuring tax and transfer systems bring sufficient revenue to reach macroeconomic fiscal targets, address societal goals in re-distribution and social welfare, recognise the influence taxation has on businesses’ competitiveness and adequately address environmental externalities is a tough challenge, arguably more so in Israel than in many other OECD countries.

This study analyses the economic rent generated by the exploitation of a non-renewable resource, and the taxation of this rent.

This paper estimates the elasticities of government revenue and expenditure items with respect to the output gap for European Union (EU) countries. These elasticities are used by the European Commission, as part of the EU fiscal surveillance process, to calculate the semi-elasticity of the budget balance as a percentage of GDP with respect to the output gap.

This review particularly recommends shifting away from income taxation to indirect taxation, for instance by raising more revenue from the Goods and Services Tax.

The Colombian corporate tax system is highly complex and distortive. The effective tax burden on businesses is very high due to the combined effect of the corporate income tax, the corporate surtax introduced in 2012 (CREE), the net wealth tax on business assets and the value added tax (VAT) on fixed assets.

The tax on immovable property recently started to regain its former significance, but the tax yield still remains low, with slightly more than 1% of GDP and wide variation across countries.

Colombia needs a comprehensive tax reform that boosts revenues and shifts the tax burden to support more inclusive and green growth. Tax loopholes and exemptions that reduce the tax base and favour mainly the rich should be reduced significantly.

This paper contributes to the scarce literature on the macroeconomic effects of property taxes, in particular on the relationships between property taxes, house prices and the wider economy.

This paper analyses income inequality in Ireland using a new panel dataset based on the administrative tax records of the Revenue Commissioners for Ireland.

TThe economic literature suggests that a revenue-neutral shift of tax revenues from income taxes to property taxes would increase GDP per capita in the medium term. This paper analyses for Ireland the consequences of such a shift in the tax mix.

This paper re-estimates the elasticities of government revenue and expenditure items with respect to the output gap for OECD countries. These elasticities are used by the OECD to calculate cyclically adjusted fiscal balances. The study updates the earlier 2005 study using the most recent datasets and tax codes, the coverage being confined in this paper to 35 countries, the 34 OECD member states and Latvia.