Next on the list is Chile, where the various taxes make up 19.8% of GDP. That’s slightly lower than the country’s biggest earner, the export of copper, which makes up 20% of its income.
32: SOUTH KOREA – 24.6%
South Korea’s tax bill has increased slightly from 24.3% in 2013 to 24.6% in the latest analysis. As an insight into the nation’s tax system, companies face corporation tax of up to 24% depending on how much profit they make, while for individuals the highest rate of income tax is 41.8%.
31: UNITED STATES – 26%
The US features surprisingly low down on the list, with an average tax rate of 26%. However, the nation’s true tax bill might be slightly higher as the country doesn’t impose a national VAT on goods and services, instead charging different rates of retail sales taxes.