NZ income tax take growth outperforms OECD average
Monday 25 October 2004
The New Zealand government's personal and corporate income tax take, as a percentage of gross domestic product, grew faster in the 2001 to 2002 year than in any other OECD country a report shows.
By The Landlord
The Paris-based, thirty member Organisation for Economic Co-operation yesterday published its annual Revenue Statistics and also a comparative overview of tax policies.The Revenue Statistics showed New Zealand's overall tax take in the 2002 year at 34.9% of GDP was below the OECD average of 36.3%. Provisional figures which did not include an average figure across the organisation showed NZ's total tax take eased slightly in 2003 to 34.8% of GDP.
But the report showed that while the OECD average ratio of revenue from personal and corporate tax for 2002 was 12.9% - down from 13.3% the previous year - New Zealand was up to 20.6% from 19.5%.
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