Malta reg­is­ters fourth high­est in­crease in tax­a­tion in EU

The Malta Business Weekly - - FRONT PAGE - Noel Grima

Com­pared with 2016, the tax-to-GDP ra­tio in­creased in fif­teen Mem­ber States in 2017, with the largest rise be­ing ob­served in Cyprus (from 32.9% in 2016 to 34.0% in 2017), ahead of Lux­em­bourg (from 39.4% to 40.3%), Slo­vakia (from 32.4% to 33.2%) and Malta.

In con­trast, de­creases were recorded in thir­teen Mem­ber States, no­tably in

(from 39.3% in 2016 to 38.4% in 2017), Ro­ma­nia (from 26.5% to 25.8%) and nia (from 33.8% to 33.0%).

The over­all tax-to-GDP ra­tio, mean­ing the sum of taxes and net so­cial con­tri­bu­tions as



a per­cent­age of Gross Do­mes­tic Prod­uct, stood at 40.2% in the Euro­pean Union in 2017, an in­crease com­pared with 2016 (39.9%). In the euro area, tax rev­enue ac­counted for 41.4% of GDP in 2017, slightly up from 41.2% in 2016.

Newspapers in English

Newspapers from Malta

© PressReader. All rights reserved.