Tax revenues fell across the OECD for the first time in a decade during 2019, but a much larger decrease is expected in 2020 as the COVID-19 pandemic drives down economic activity and consumption tax revenues, according to new OECD research published today.
The 2020 edition of the OECD’s annual Revenue Statistics publication shows that the average tax-to-GDP ratio has fallen to 33.8% in 2019, a decrease of 0.1 percentage points since 2018. This was due to decreases in 15 OECD countries that were larger, on average, than the increases in the 20 remaining countries for which 2019 data were available.
Source OECD
