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How Much Taxes Do Europeans Pay?

Economy | January 21, 2016
Excel Sheet

Just the mere mention of the word causes most people’s eyes to glaze over or brings them out in hives. If you feel like you’re paying too much to the state just consider Denmark. Eurostat noted that the highest share of taxes and social contributions in percentage of GDP in 2014 was in Denmark (50.8%), followed by Belgium and France (both 47.9%). Instead of saying ‘you drink like a Dane’, soon we’ll be saying  ‘you pay like a Dane’. 

At the opposite end of the scale, Bulgaria and Romania with over 27%  had the second lowest tax-to-GDP ratio in the EU in 2014.The Czech Republic, with 34.1%,  falls within the lower tax-to-GDP ratio countries.

The tax-to-GDP ratio varies significantly among EU countries. Overall tax-to-GDP ratio, meaning the sum of taxes and net social contributions as a percentage of GDP, was 40% in the EU in 2014. The average European tax burden trend  increased slightly every year from 2010 when it was 38.5%.