The overall tax-to-GDP ratio, which is the sum of taxes and net social contributions as a percentage of Gross Domestic Product, stood at 40.2% in the European Union (EU) in 2017 and 41.4% of GDP for the Eurozone in 2017. These were the highest ever levels for both the European Union and Eurozone.
Personal taxes now contribute a multi-year record 45.7% of total Federal government receipts.
1. Total tax receipts are down 5% year on year (Q1 2018 vs Q1 2017)
Total tax receipts are down 5% year on year from $2.14 trillion in Q1 2017 to $2.04 trillion in Q1 2018.
With the UK government recently proposing extra spend for the National Health Service and potentially extra taxes to fund it, we look at how UK tax collections for different taxes have grown over time.