Tax Facts

July 18th is when the Swedish taxpayers celebrated their Tax Freedom Day in 2018 according to the Swedish Taxpayers Association.

According to Asociación de Contribuyentes del Perú, the taxpayers in Peru are working 135 days to pay for the income tax, value-added tax, social security contributions and other local taxes.

Income tax and social security contributions declined slightly for the average worker across the OECD in 2018, driven by major reforms in a handful of countries, according to Taxing Wages OECD’s report.

The Tax Foundation recently released its report on Tax Freedom Day. Tax Freedom Day is a significant date for taxpayers and lawmakers because it represents how long Americans as a whole have to work in order to pay the nation’s tax burden. This year, Tax Freedom Day falls on April 16, or 105 days into the year.

Tax Foundation’s latest study compares corporate tax rates around the world.

The International Tax Competitiveness Index is a powerful tool that can help you identify strengths and weaknesses with your country’s tax code, and develop a road map towards positive reforms.

New analysis by the TaxPayers’ Alliance shows that the bottom 10 per cent of earners in Britain are paying half of their income in tax, which is a dramatic increase on the previous year.

Scott Hodge, president of the Tax Foundation acknowledges that “although there is no empirical standard for what constitutes a “fair share” of the tax burden, tax fairness is often used by leading international organizations, such as the European Commission, and non-governmental organizations (NGOs) such as the Tax Justice Network, to justify higher taxes on businesses and corporations”.

The OECD published a new paper on statutory rates on capital income. 

Tax Freedom Day will be three days earlier than it was in 2017.