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How Would House Dems’ Tax Plan Change Competitiveness of U.S. Tax Code?
The legislation put forward by Democratic members of the House of Representatives would reverse many of the 2017 reforms while increasing burdens on businesses and workers.
2 min read![Israel income tax system, Taxes in Israel](https://taxfoundation.org/wp-content/uploads/2020/08/Tel-Aviv-Israel-300x225.jpg)
Movers and Shakers in the International Tax Competitiveness Index
The Index provides lessons for policymakers when they are thinking of ways to remove distortions from their tax systems and remain competitive against their peers. The further up a country moves on the Index, the more likely it is to have broader tax bases, relatively lower rates, and policies that are less distortionary to individual or business decisions. Going the other way reveals a policy preference for narrow tax bases, special tax policy tools, and rules that make it difficult for compliance.
5 min read![2021 International Tax Competitiveness Index Rankings in Europe, 2021 Global Tax Competitiveness Rankings, 2021 Global Tax Rankings in OECD Global Tax](https://taxfoundation.org/wp-content/uploads/2021/10/ITCI-front-page-and-featured-image-2021-01-01-300x188.jpg)
International Tax Competitiveness Index 2021
A well-structured tax code (that’s both competitive and neutral) is easy for taxpayers to comply with and can promote economic development while raising sufficient revenue for a government’s priorities.
40 min read![EU fiscal fairness economic fairness and tax fairness Testimony before the EU Parliament’s Subcommittee on Tax Matters Public hearing on “The impact of national tax reforms on the EU economy”](https://taxfoundation.org/wp-content/uploads/2021/10/Testimony-before-the-EU-Parliament-Subcommittee-on-Tax-Matters-hearing-on-the-impact-of-national-tax-reforms-on-the-EU-economy-Tax-Foundation-e1633723852731-300x200.jpeg)
Testimony: EU Parliament Subcommittee on Tax Matters Hearing on the Impact of National Tax Reforms on the EU Economy
Tax Foundation testimony on the diversity of tax systems within the EU, three important ways to consider reforms by Member States, and several recommendations for the EU Parliament’s Subcommittee on Tax Matters to consider.
10 min read![emergency savings accounts retirement savings accounts Build Back Better plan inflation Build Back Better plan deficit carbon tax reconciliation hr3 tax prescription drugs tax help pay for reconciliation, revenue for federal government retirement savings federal reform proposals SECURE Act Securing a Strong Retirement Act of 2021](https://taxfoundation.org/wp-content/uploads/2021/06/Capitol_money_adobe_trekandphoto_optimized-e1623769427516-300x200.jpeg)
Carbon Tax: Weighing the Options for Financing Reconciliation
A carbon tax would be a less economically harmful pay-for than either personal or corporate income tax hikes and a more efficient way to reduce carbon emissions than green energy tax credits, but would come with other trade-offs.
4 min read![EU tobacco tax directive EU cigarette tax rates 2021 VAT EU reforms](https://taxfoundation.org/wp-content/uploads/2021/09/Europe-global-map-3-300x183.jpg)
A 15 Percent VAT Rate Is Possible by Scrapping Reduced Rates
A VAT tax reform that eliminates VAT reduced rates would decrease compliance costs and allow for a more rapid economic recovery. Policymakers should focus on simplifying VAT rules and making them more efficient and neutral by broadening their tax bases and eliminating reduced rates and unnecessary tax exemptions.
4 min read![Biden estate tax Biden tax wealth tax Biden capital gains tax Biden wealth tax unrealized capital gains at death American Families Plan tax proposals American Family Plan Details and Analysis Biden American Families Plan Senate American Rescue Plan direct payments stimulus checks federal covid relief American Rescue Plan tax american rescue plan stimulus payments Tracking the 2021 Biden Tax Plan](https://taxfoundation.org/wp-content/uploads/2021/06/AdobeStock_132080413-e1623777912473-300x150.jpeg)
Comparing Three Financing Options for President Biden’s Spending Proposals
While Congress continues to debate how to pay for President Biden’s spending proposals in the fiscal year 2022 budget, it is useful to consider the economic impact of a range of financing options in addition to the President’s proposed tax increases.
3 min read![Asian pacific countries revenue loss. Tax revenue Africa. Tax revenue Asia. Tax revenue Latin America. 2021](https://taxfoundation.org/wp-content/uploads/2021/07/Tokyo-olympics-tax-revenue-Asian-pacific-countries-revenue-loss.-Tax-revenue-Africa.-Tax-revenue-Asia.-Tax-revenue-Latin-America.-2021-300x225.jpg)
Asian and Pacific Countries Faced Revenue Loss Prior to COVID-19 Outbreak
As economies are starting to recover and growth is expected to rebound in the region during 2021, Asian and Pacific countries should start exploring changes to their fiscal tax policies while carefully evaluating the optimal time for eliminating fiscal stimulus and temporary tax relief.
4 min read![](https://taxfoundation.org/wp-content/uploads/2017/01/new-hampshire-300x201.jpg)
New Hampshire Closes in on Tax Cuts to Enhance State’s Competitive Advantage
New Hampshire lawmakers are scheduled to take up a budget conference report which contains several tax reforms negotiated by both chambers that would ultimately make New Hampshire the ninth state to impose no tax on individual income. These reforms floated at the beginning of the 2021 session found their way into HB 2, including rate reductions in the Business Profits Tax (BPT) and Business Enterprise Tax (BET) and a phaseout of the interest and dividends tax.
4 min read![value added tax bases in Europe VAT bases in Europe 2021 vat revenue ratio rate on final consumption](https://taxfoundation.org/wp-content/uploads/2021/06/value-added-tax-bases-in-Europe-VAT-bases-in-Europe-2021-vat-revenue-ratio-rate-on-final-consumption-300x290.png)
VAT Bases in Europe
As economic activity resumes and the task of accounting for the deficits incurred in navigating the crisis of the past year becomes the focus of fiscal policy deliberations, a greater reliance on VAT could be an important tool in ensuring fiscal stability going forward. Countries should use this as an opportunity to improve VAT systems by re-examining carveouts in the form of exemptions and reduced rates.
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A Comparison of the Tax Burden on Labor in the OECD, 2021
Governments often justify higher tax burdens with more extensive public services. However, the cost of these services can be more than half of an average worker’s salary.
21 min read![2021 corporate tax collections 2021 corporate tax revenue estimates pandemic 2021 federal tax collections](https://taxfoundation.org/wp-content/uploads/2021/05/us_treasury_dolloar_money_3_optimized1-e1621373851315-300x200.jpeg)
Reviewing Options to Raise Tax Revenue and the Trade-offs for Economic Growth and Progressivity
There’s a useful contrast between two revenue options related to President Biden’s infrastructure push. The president’s American Jobs Plan includes a proposal to raise the corporate tax rate to 28 percent. Meanwhile, historically, the gas tax is the main revenue source for transportation funding.
8 min read![Latin American tax revenue, Latin America tax revenue, Caribbean tax revenue LAC tax](https://taxfoundation.org/wp-content/uploads/2020/06/brazil-32-300x225.jpg)
OECD Report: Tax Revenue as a Percent of GDP in Latin American and Caribbean Countries Is below the OECD Average
Taxes on goods and services were on average the greatest source of tax revenue for Latin American and Caribbean countries
5 min read![Spain Recovery Plan Tax Hikes 2020 Spanish Regional Tax Competitiveness Index, Spain economic recovery, Spain recovery budget, Spain recovery plan](https://taxfoundation.org/wp-content/uploads/2020/10/barcelona-spain-300x225.jpg)
More Tax Hikes Than Investment Projects?
Tax hikes implemented in the near term might undermine Spain’s economic recovery. Spain should focus on implementing tax reforms that have the potential to stimulate economic recovery by supporting private investment and employment while increasing its internal and international tax competitiveness.
5 min read![international tax avoidance To help countries face the pandemic-related financing needs while reducing inequality, the International Monetary Fund (IMF) has released a series of policy recommendations based on a temporary COVID-19 tax, levied on high incomes or wealth. IMF tax proposals: shrink inequality or harm pandemic economic recovery? OECD work plan, BEPs 2.0, base erosion, profit allocation, global minimum tax, base erosion and profit shifting oecd](https://taxfoundation.org/wp-content/uploads/2019/06/international-global-flag-oecd-eu-e1560791893281-300x201.jpeg)
IMF Tax Proposals: Shrink Inequality or Sink Post-Pandemic Recovery?
To help countries face the pandemic-related financing needs while reducing inequality, the International Monetary Fund (IMF) has released a series of policy recommendations based on a temporary COVID-19 tax, levied on high incomes or wealth.
4 min read![Washington capital gains income tax Washington capital gains tax 2021 Washington election results ballot measures Washington State Lawmakers Floats a Wealth Tax Which Relies Almost Exclusively on Four People, Washington wealth tax proposal, Washington State wealth tax](https://taxfoundation.org/wp-content/uploads/2021/01/Washington-state-capitol-e1611931281801-300x167.jpeg)
Washington State Lawmakers Consider 1,000% Tax Increase on Tobacco Businesses
Limiting addiction to nicotine is a laudable goal, but lawmakers should exercise caution with the methods employed. Using gross receipts taxes on businesses to effectively levy an excise tax introduces complexity to an already flawed tax design. It is better to let the excise tax internalize externalities and the business tax raise general revenue.
3 min read![2021 state tax data, Facts and Figures 2021 Tax Foundation](https://taxfoundation.org/wp-content/uploads/2021/03/FF-square-02-01-01-300x285.jpg)
Facts and Figures 2021: How Does Your State Compare?
Our updated 2021 edition of Facts & Figures serves as a one-stop state tax data resource that compares all 50 states on over 40 measures of tax rates, collections, burdens, and more.
1 min read![New Hampshire Business Profits Tax, New Hampshire Business Enterprise Tax, New Hampshire business tax cut, New Hampshire House Bill 10, New Hampshire Income Tax](https://taxfoundation.org/wp-content/uploads/2021/03/New-Hampshire-capitol-e1614897375170-300x225.jpeg)
New Hampshire Bill Aims to Reduce Tax Burden on Businesses
A year ago, it seemed possible that New Hampshire was headed toward a triggered tax increase. Instead, lawmakers may trim business tax rates and begin the phaseout of the state’s tax on interest and dividend income, which would take away the asterisk and make New Hampshire the ninth state to forgo an individual income tax altogether.
4 min read![Consumption taxes in Europe, reliance on consumption taxes in Europe, reliance on consumption tax revenue in Europe, taxes on goods and services in Europe](https://taxfoundation.org/wp-content/uploads/2021/03/Reliance-on-consumption-tax-revenue-in-europe-reliane-on-consumption-taxes-in-europe-2021-300x285.png)
Reliance on Consumption Taxes in Europe
Hungary relies the most on consumption tax revenue, at 45.3 percent of total tax revenue, followed by Latvia and Estonia at 45.1 percent and 42.4 percent, respectively.
2 min read![UK 2021 budget Rishi sunak 2021 UK budget 2021](https://taxfoundation.org/wp-content/uploads/2021/03/uk-lond-33-300x200.jpg)
An Investment Boost in the UK’s 2021 Budget
The UK’s Chancellor of the Exchequer Rishi Sunak released the 2021 budget, and most important for near-term growth is the significant boost to capital allowances.
5 min read