Tax charges on employment are in excess of 50% in Belgium, Germany Hungary and France. In contrast, the US recorded 29.1% and Korea just 17.3% in a fresh OECD study. The 'tax wedge,' ie the difference between labour costs to the employer and the net take-home pay of a single-earner employee is the biggest in Belgium (55.4%), Germany (51.8%), Hungary (50.5%) and France (50.1%), a fresh report by the Organisation for Economic Co-operation and Development (OECD) reveals. The calculation includes all cash benefits received from government welfare programmes. READ ON
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