Latest Expert Exchange Queries

GST Demo Service software link: https://ims.go2customer.com
Username: demouser Password: demopass
Get your inventory and invoicing software GST Ready from Binarysoft info@binarysoft.com
sitemapHome | Registration | Job Portal for CA's | Expert Exchange | Currency Converter | Post Matrimonial Ads | Post Property Ads
 
 
News shortcuts: From the Courts | News Headlines | VAT (Value Added Tax) | Placements & Empanelment | Various Acts & Rules | Latest Circulars | New Forms | Forex | Auditing | Direct Tax | Customs and Excise | ICAI | Corporate Law | Markets | Students | General | Mergers and Acquisitions | Continuing Prof. Edu. | Budget Extravaganza | Transfer Pricing | GST - Goods and Services Tax
 
 
 
 
Popular Search: TAX RATES - GOODS TAXABLE @ 4% :: ACCOUNTING STANDARDS :: form 3cd :: VAT RATES :: cpt :: ARTICLES ON INPUT TAX CREDIT IN VAT :: TDS :: ICAI offer Get Windows 7,Office 2010 in Rs.799 Taxes :: ACCOUNTING STANDARD :: articles on VAT and GST in India :: due date for vat payment :: list of goods taxed at 4% :: empanelment :: VAT Audit :: Central Excise rule to resale the machines to a new company
 
 
General »
 Income tax department to target senior executives who have US bank accounts
 Exporters file over 10,000 applications for GST refunds
 Government wants RBI rate cut before March: Finance ministry sources
 Govt begins review of tax, other norms for startups
 Fall in tax collection compounds crisis
 Govt sets up task force to review income tax laws
 Tax queries: Contact employer to get Form 16 error rectified
 Finance Ministry may hike monetary limit for filing tax appeals
 Compilation of all notifications issued ON
 Banking transaction tax to have cascading effect: NIPFP
 While filing tax in India, NRIs do not have to state overseas income

Tax burden on wages in rich countries rose again in 2013: OECD
April, 12th 2014

Taxes on wages rose across industrialised countries last year, as governments sought to reduce budget deficits blown out by efforts to tackle years of economic weakness following the financial crash.

The Organisation for Economic Co-operation and Development (OECD), whose members include the world's richest nations, said the total burden of taxes on labour rose to 35.9 per cent in 2013 from 35.7 per cent in 2012.

The United States had the joint second-largest rise in the "tax wedge", which includes income taxes and the taxes employers pay on wages, following the expiry of a cut in payroll taxes last year.

However, the U.S. tax wedge of 31.3 per cent showed the gap between the cost to companies of employing staff and what U.S. workers receive was still lower in than in most other OECD countries.

The higher tax burden comes on top of falling real wages in several countries including the United States and Britain, the OECD said in its annual "Taxing Wages" survey.

The survey is based on a hypothetical individual at the income level of the average worker, rather than the higher earners hit by a 2013 tax rise pushed by President Barack Obama.

The OECD said the growing tax wedge was a disincentive to employment creation.

The Paris-based body believes lifting taxes on property and reducing tax breaks on pension saving for the better off, would be less damaging for employment and growth.

However, data across the OECD showed little correlation between employment and taxes on wages.

Belgium had the highest tax burden at 55.8 per cent, last year but had an unemployment rate just fractionally above the OECD average.

Germany had the second highest tax burden at 49.3 per cent but the fourth lowest unemployment rate, according to data on the OECD website.

OECD statistician Maurice Nettley said the absence of direct correlation was probably due to the fact economies in the group differed so much and many other factors were at play.

Real wages before tax fell in a number of OECD members, most notably Greece, where they fell 6.7 per cent, as the country still struggles to recover from an economic crisis that led to two European Union bailouts.

Better off and poorer earners saw their tax burden increase last year but since 2007 low paid workers with children have seen their burden drop relative to average and higher earners, the OECD said, thanks to targeted government support such as tax credits for the least well off.

 
 
Home | About Us | Terms and Conditions | Contact Us
Copyright 2017 CAinINDIA All Right Reserved.
Designed and Developed by Binarysoft Technologies Pvt. Ltd.
SEO Services SEO LLC e-boost Search Engine Optimization Services Internet Marketing Services Website Placement Services On-site Webs

Transfer Pricing | International Taxation | Business Consulting | Corporate Compliance and Consulting | Assurance and Risk Advisory | Indirect Taxes | Direct Taxes | Transaction Advisory | Regular Compliance and Reporting | Tax Assessments | International Taxation Advisory | Capital Structuring | Withholding tax advisory | Expatriate Tax Reporting | Litigation | Badges | Club Badges | Seals | Military Insignias | Emblems | Family Crest | Software Development India | Software Development Company | SEO Company | Web Application Development | MLM Software | MLM Solutions