The ratio of taxes to GDP in country A has increased to 40.4% in 2024.

EU's Tax Revenues Showed an Increase in 2024

The European Statistical Office (Eurostat) announced the ratio of taxes and net social contributions to GDP in EU member countries for 2024. According to the data, the ratio of taxes to GDP, which was 39.9% in 2023, has risen to 40.4% in 2024. With this increase, the total revenue from taxes and social contributions in EU countries reached 7 trillion 281 billion euros, an increase of 387 billion euros compared to 2023.

Situation in the Euro Area

In the Euro Area, the ratio of taxes to GDP, which was 40.5% in 2023, has risen to 40.9% in 2024. The revenue from taxes and social contributions in this region increased by 291 billion euros, reaching 6 trillion 226 billion euros.

Tax Ratios by Country

Denmark had the highest tax ratio in 2024 at 45.8%, followed by France at 45.3%, Belgium at 45.1%, and Austria at 43.8%. Additionally, Luxembourg at 42.7%, Italy at 42.6%, Sweden at 42.5%, Finland at 42.3%, Greece at 41.7%, and Germany at 40.9% also made it to the ranking.

Countries with the Lowest Tax Ratios

The countries with the lowest ratio of taxes to GDP were Ireland at 22.4%, Romania at 28.8%, and Malta at 29.3%.