Bulgaria Lags Behind in Tax Collection
Bulgaria is among the EU countries with lowest tax collection rate, according to Eurostat.
The data shows that in 2011, the relationship of tax collection and GDP in Bulgaria was 27.2%.
Behind Bulgaria is Lithuania with 26.7% and ahead of Bulgaria is Latvia with 27.7%.
The highest ratio between tax revenues and GDP was achieved in Denmark (48.6%), Belgium (46.7%) and France (45.9%).
According to Eurostat, in 2011, tax revenues in the EU increased both in absolute terms and as a ratio to GDP.
As a ratio of GDP, tax revenues (including social contributions) accounted for 40 % of GDP in the European Union and 40.8 % of GDP in the euro area.
In 2011, tax revenues made up just under than 90 % of total general government revenue in the European Union. Taxes on production and imports accounted for 13.4 % of GDP and current taxes on income, wealth, etc. 12.6 % of GDP.
The share of current taxes on income, wealth, etc. has decreased from 2007 to 2010, but a slight increase is noted in 2011.
The share of social contributions increased noticeably from 2008 to 2009, but went on to decrease further in 2010.
- » Fitch Affirms Bulgaria's BBB- Rating
- » S&P Confirms 'Junk' Status of Bulgaria
- » European Parliament Approves EU Budget for 2017
- » BSP Threatens To Refer Budget 2017 to Constitutional Court
- » Annual Subsidy for Bulgarian Parties To Remain BGN 11 Per Valid Vote
- » Bulgarian Academy of Sciences Not To Receive Additional Funding
Well, there seems to be a correlation between low taxes and low debt to GDP.
Me thinks that is good. Belgium, France and Denmark can tax what they want, their hunger for money is that big that they not only have the highest taxes but that they also have the highest debts to GDP.
Now choose, where would you want to live?
Other question, where people are ripped off?