Tax revenues continue bouncing back from the low levels reported in almost all countries during 2008 and 2009, at the height of the global economic crisis, according to OECD data in the annual Revenue Statistics publication. The largest increases in 2012 occurred in Hungary, Greece, Italy and New Zealand. The largest falls were in Israel, Portugal and the United Kingdom. The average tax revenue to GDP ratio in OECD countries was 34.6% in 2012, with Ireland recording total tax revenue as a percentage GDP of 28.3%.

The ratio of tax revenues to GDP rose in 21 of the 30 countries, for which 2012 data is available, and fell in only 9 countries. The number of countries with increasing and decreasing ratios was similar to that seen in 2011 indicating a continuing trend toward higher revenues according to the OECD’s report.