22.1 C
Bucharest
September 24, 2021
BUSINESS

Eurostat: Romania has largest decrease, second-lowest level of taxes share in GDP

Lithuania and Romania held, in 2013, the last places in the European Union in terms of share of tax revenues (including social contributions) in their Gross Domestic Product, 27.2 percent of GDP in the case of Lithuania and 27.4pct in Romania, about half the 40.1pct EU average and 41.2pct in the Eurozone, according to data released on Friday by the European Statistics Office (Eurostat).

In contrast, the countries where tax revenues had in 2013 the largest share in GDP were Denmark (48.6pct), Belgium (47.8pct) and France (47.3pct).

Eurostat also informs that, between 2012 and 2013, decreases in the share of taxes in GDP were recorded in nine member states, and the largest decrease was registered in Romania (minus 0.7 percentage points from 28.1pct of GDP in 2012 to 27.4pct of GDP in 2013).

However, in absolute terms, between 2012 and 2013, a decrease in tax and social contribution revenues was recorded in only five member states (Czech Republic, Greece, Italy, Cyprus and Great Britain), while in the remaining 23 member states ( including Romania), these revenues went up. In Romania’s case, the rise was from 58.734 billion euros in 2012 to 63.714 billion euros in 2013.

In 2013, tax revenues in the EU 28 remained relatively equally distributed between net social contributions (13.5pct of GDP), taxes on production and imports (13.5pct) and taxes on income, assets etc (12.9pct).

 

Related posts

Over 6,500 companies became insolvent from January to July

Nine O' Clock

Visa launches comprehensive platform including advice, solutions and special offers to support the digitalisation of small and medium businesses in Romania

NINE O'CLOCK

Romanian auto market’s drop, steeper than the EU one

Nine O' Clock