5 Countries with Highest Tax to GDP Ratio in the World

In this article, we will look at 5 countries with highest tax-to-GDP ratio in the world. If you want to read our detailed analysis, head straight to 25 Countries with Highest Tax-to-GDP Ratio in the World.

5. Iceland

Tax-to-GDP Ratio: 32.30%

Iceland has a tax-to-GDP ratio of 32.30% and a GDP of $28.17 billion. Iceland ranks fifth among the countries with the highest tax-to-GDP ratio in the world.

4. Botswana

Tax-to-GDP Ratio: 34%

Botswana has a GDP of $55.24 billion and a tax-to-GDP ratio of 34%.

3. Australia

Tax-to-GDP Ratio: 34.90%

Australia is one of the fastest-growing economies with a GDP of $1.78 trillion. With a tax-to-GDP ratio of 34.90%, Australia ranks third among the countries with the highest tax-to-GDP ratio in the world.

2. Serbia

Tax-to-GDP Ratio: 41.70%

Serbia ranks second among the countries with the highest tax-to-GDP ratio in the world. Serbia has a tax-to-GDP ratio of 41.70%.

1. Denmark

Tax-to-GDP Ratio: 44.10%

Denmark has the highest tax-to-GDP ratio in the world. Denmark has a GDP of $458.09 billion and a tax-to-GDP ratio of 44.10%.

You can also take a look at the 25 Fastest Growing Economies in the Last 50 Years and 20 States Where Tax Filers Are Paying the Highest Percentage of Their Income.