Importance of VAT in OECD Countries: Trends and Statistics Revealed in 2024 Report

• OECD report shows that revenue from consumption taxes in OECD countries remained stable at 9.9% of GDP in 2022
• VAT generated 20.8% of total revenue in OECD countries in 2022
• Consumption tax-to-GDP ratios declined in 12 out of 38 OECD countries between 2020 and 2022
• VAT revenues slightly increased in OECD countries between 2020 and 2022
• Standard VAT rates across OECD countries slightly increased in 2024 to 19.3% on average

Source: michaelamerz.org

Note that this post was (partially) written with the help of AI. It is always useful to review the original source material, and where needed to obtain (local) advice from a specialist.

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