Covid Fiscal Support Reduced Economic Damage, OECD Tax Data Show

Dec. 6, 2021, 10:02 AM

The fiscal health of many countries deteriorated in 2020, but that didn’t translate into the dramatic falls in tax revenue seen after the global financial crisis a decade earlier, according to a report from the OECD.

Tax revenue as a percentage of GDP was on average 33.5% in 2020, an increase of 0.1 percentage points from 2019, according to the Organization for Economic Cooperation and Development review of the tax collection of its 38 member countries.

“The COVID-19 pandemic led to a more severe global recession in the short term, but is expected to give ...

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