Brazil and India hit businesses with highest sales and consumption taxes | UHY International

Brazil and India hit businesses with highest sales and consumption taxes | UHY International: "Brazil and India hit consumers with the highest levels of consumption and sales taxes in the world, according to new research by UHY, the international accounting and consultancy network.

UHY adds that behind India and Brazil, European countries impose the heaviest sales tax burden, which threatens to undermine recoveries in consumer spending by putting pressure on disposable incomes.

UHY tax professionals studied data from 22 countries* across its international network, including all members of the G8 and the developing BRIC economies. UHY calculated the percentage of the total price of a representative basket of goods and services that was made up of taxes and duties.

The Brazilian and Indian governments take 28.7% and 38% respectively of the total price of the basket of goods and services through taxes. On average, European governments are responsible for 15.5% of the price of UHY’s basket of goods and services.

This compares to an average of 13.8% for all countries, an average of 8.2% in the Asia-Pacific countries, 12.3% in G8 countries."

'via Blog this'