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Top Personal Income Tax Rates in Europe 2023 Income Tax Rates or Individual Income Tax Rates

Top Personal Income Tax Rates in Europe, 2023

Denmark (55.9 percent), France (55.4 percent), and Austria (55 percent) have the highest top statutory personal income tax rates among European OECD countries.

2 min read
2023 corporate tax rates in Europe compare corporate income tax rates in Europe Corporate tax rates Europe

Corporate Income Tax Rates in Europe, 2023

Taking into account central and subcentral taxes, Portugal has the highest corporate tax rate in Europe at 31.5 percent, followed by Germany and Italy at 29.8 percent and 27.8 percent, respectively

2 min read
Biden state of the union address 2023 tax proposals stock buybacks tax billionaire minimum tax expanded child tax credit

Tax Policy in Biden’s 2023 State of the Union Address

President Biden’s State of the Union Address outlined three tax proposals, including raising the tax on stock buybacks, imposing a billionaire minimum tax, and expanding the child tax credit.

6 min read
2023 VAT rates in Europe, 2023 VAT rates by country, 2023 value-added tax rates in Europe and 2023 value-added tax rates by country

VAT Rates in Europe, 2023

The EU countries with the highest standard VAT rates are Hungary (27 percent), Croatia, Denmark, and Sweden (all at 25 percent). Luxembourg levies the lowest standard VAT rate at 16 percent, followed by Malta (18 percent), Cyprus, Germany, and Romania (all at 19 percent).

4 min read
Ways & means tax proposal seeks to combat extraterritorial taxes and discriminatory taxes Global minimum tax revenue OECD Pillar Two revenue OECD impact assessment OECD Pillar One tax Pillar one amount a Biden interest limitation Biden interest deduction rule Biden interest expense limitation Business interest expense limitation Democrat Senate international tax overhaul discussion draft legislation (Wyden Brown Warner international tax overhaul) or Sen Wyden international tax plan,

What the OECD’s Pillar Two Impact Assessment Misses

The process leading to the global minimum tax has been messy, and the mess will likely continue for years to come. New revenues are hardly a salve for the setback they represent.

7 min read
Actionable VAT Policy Gap in Europe including VAT gap and VAT revenue potential in Europe

Actionable VAT Policy Gap in Europe

Value-added taxes (VAT) make up approximately one-fifth of total tax revenues in Europe. However, European countries differ significantly in how efficiently they raise VAT revenues. One way to measure a country’s VAT efficiency is the VAT Gap.

3 min read
Transatlantic Trade and Investment Partnership (T-TIP) US EU tax and trade policy why Congress should care about EU tax policy

In the Shadow of T-TIP: Why Congress Should Care About EU Tax and Trade Issues in 2023

The EU’s unilateral approach with carbon taxes, faster track on the global minimum tax, and threat of renewed efforts on DSTs means that U.S. policymakers face some hard choices. Policymakers on both sides of the Atlantic should keep in mind pro-growth tax and trade principles that promote a rules-based international order and increase opportunity.

7 min read
digital services taxes in europe EU and OECD digital services tax Pillar One Digital taxes and tariffs

Digital Services Taxes: Is There an End in Sight?

As it stands, Pillar One would usher in the end of many digital services taxes (though perhaps not all) at the cost of increased complexity (in an already complex and uncertain system).

4 min read
EU tobacco tax directive EU cigarette tax rates 2021 VAT EU reforms

The Future of Tobacco Taxation in Europe

Later this week, the European Union is expected to release a new Tobacco Tax Directive, the first update in more than a decade. Early reports indicate that the EU will propose a significant increase to the existing minimum cigarette tax rates levied across the Union and expand the product categories that are taxed, including a block-wide vaping tax.

7 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”

EU “Fiscal Fairness”

Europe is facing difficult times. Governments are balancing the need for more resources with the need to maintain peace and prosperity domestically. To properly strike this balance, EU policymakers must incorporate “Fiscal Fairness” into the debate.

2 min read
Comparing income tax systems in Europe best and worst personal income taxes Europe 2022

Comparing Europe’s Tax Systems: Individual Taxes

France’s individual income tax system is the least competitive among OECD countries. France’s top marginal tax rate of 45.9 percent is applied at 14.7 times the average national income. Additionally, a 9.7 surtax is applied to those at the upper end of the income distribution. Capital gains and dividends are both taxed at comparably high top rates of 34 percent.

2 min read
International Rankings of Germany's Tax System. Learn more about Germany tax system.

International Tax Competitiveness Index 2022

While there are many factors that affect a country’s economic performance, taxes play an important role. A well-structured tax code is easy for taxpayers to comply with and can promote economic development while raising sufficient revenue for a government’s priorities.

41 min read
Junk fees ban from the FTC Biden tax hike proposals live on Build Back Better Inflation Reduction Act Biden tax rates

Tax Hike Proposals Live on Despite Being Dropped in the Inflation Reduction Act

President Biden proposed a 7-point hike in the corporate tax rate to 28 percent, a new minimum book tax on corporate profits, and higher taxes on international activity. We estimated these proposals would reduce the size of the economy (GDP) by 1.6 percent over the long run and eliminate 542,000 jobs.

6 min read