Tax-to-GDP ratio up to 40.3% in EU, 33.8% in Cyprus for 2018

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The overall tax-to-GDP ratio, meaning the sum of taxes and net social contributions as a percentage of Gross Domestic Product, stood at 40.3% in the European Union (EU) in 2018, a slight increase compared with 2017 (40.2%), at 33.8% in Cyprus (compared to 33.3% in 2017) and 41.5% in Greece (stable compared to 2017), according to data released today by Eurostat, the statistical service of the EU.According to Eurostat, in the euro area, tax revenue accounted for 41.7% of GDP …

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