The Country with the Highest Taxes in the World Plans to Reduce Them

World | August 30, 2017, Wednesday // 12:39| Views: | Comments: 0
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Bulgaria: The Country with the Highest Taxes in the World Plans to Reduce Them Source: Pixabay

Denmark, the country with the highest tax burden in the world, is looking for ways to cope with labor shortages. For this purpose, a reduction of the levies in support of the economic growth is planned, writes Profit.bg.

"It has to be cheaper to be a Danish," Danish Finance Minister Christian Jensen said in a statement, quoted by CNN. There is a planned shrinking in insurance rates for pension and motor vehicle tax rates.

Denmark is the country with the highest taxes among the developed countries in terms of GDP per capita, according to data from the Organization for Economic Co-operation and Development. The average Danish worker is facing a net tax burden of 36% in 2016, which is significantly higher than the average level of 25.5% for the OECD member countries, Denmark is enjoying low unemployment, but that goes hand in hand with the lack of sufficient staff, and the Danish government believes that reducing the tax burden will provoke more people to work, which would compensate labor shortages.

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