Know which countries charge more and less consumption tax; Brazilian government is studying a rate of 25%, which would be one of the highest

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The idea of ​​the government’s economic team is to charge the future Value Added Tax (VAT) instead of taxes such as ICMS and PIS/Cofins. Hungary has the highest consumption tax rate among OECD members: 27%. 💲 The Brazilian government’s economic team is studying, in the proposed tax reform, creating a 25% taxation through the future Value Added Tax (VAT), to be charged on consumption in Brazil. 💹 The idea is that it is collected instead of a number of other taxes currently collected, such as ICMS (state) and PIS / Cofins (federal). Understand the proposal here. 🌎 Consumption tax already exists in at least 170 countries – including all Europeans -, according to the Tax Foundation, a non-profit organization that assesses and collects data on taxes in different economies. 💸 Despite this, the rate of 25% studied for Brazil, if it comes into force, could be one of the highest in existence. 💰 The Tax Foundation analyzed tax collection in the 38 countries that make up the Organization for Economic Cooperation and Development (OECD), a group that includes the most advanced economies in the world. ⚠️ See below which are the 12 OECD countries with the highest consumption rates, according to the Tax Foundation: Hungary: 27% Denmark: 25% Norway: 25% Sweden: 25% Finland: 24% Greece: 24% Iceland: 24% Ireland : 23% Poland: 23% Portugal: 23% Slovenia: 22% Italy: 22% ⚠️ See below which are the 12 OECD countries with the lowest consumption tax, according to the Tax Foundation: United States: 7.4% (no federal tax; amount is average state tax) Switzerland: 7.7% Australia: 10% Japan: 10% South Korea: 10% Canada: 12.4% Costa Rica: 13% New Zealand: 15% Mexico: 16% Israel: 17% Luxembourg: 17% Turkey: 18% Initial plugin text

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