Latest Expert Exchange Queries
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) | Service Tax | Sales Tax | Placements & Empanelment | Various Acts & Rules | Latest Circulars | New Forms | Forex | Auditing | Direct Tax | Customs and Excise | ICAI | Corporate Law | Markets | Students | General | Indirect Tax | Mergers and Acquisitions | Continuing Prof. Edu. | Budget Extravaganza | Transfer Pricing
 
 
 
 
Popular Search: ACCOUNTING STANDARD :: list of goods taxed at 4% :: Central Excise rule to resale the machines to a new company :: ACCOUNTING STANDARDS :: VAT RATES :: cpt :: ARTICLES ON INPUT TAX CREDIT IN VAT :: articles on VAT and GST in India :: TDS :: TAX RATES - GOODS TAXABLE @ 4% :: due date for vat payment :: form 3cd :: ICAI offer Get Windows 7,Office 2010 in Rs.799 Taxes :: VAT Audit :: empanelment
 
 
« General »
 Supreme Court agrees to hear plea on imposition of service tax on lawyers
 India's tax department signs 3 advance pricing agreements
 Income Tax Dept to probe deeper into suspicious bank accounts
 Modi may lower taxes to spur demand in his budget sops
 Tax breather for foreign investors: All you need to know
 What the increase in tax collections does not tell us about Indian economy post demonetisation
 India’s crazy retrospective tax on foreign funds will tarnish country’s reputation
 How tax related, PAN grievances can be resolved through E-Nivaran
 Tackling income tax exemptions for equities and agriculture
 Amfi wants tax benefits for retirement plans
 Top five factors which could chart market direction in the coming week

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