Italy fact of the day

A 2007 PwC/World Bank report tried to estimate the total net tax burden on companies in different countries, original study here (pdf).

Italy has a total net, real corporate tax rate of 68.6 percent, see p.30 for the derivation and the list of all the constituent taxes, such as stamp duties, chamber of commerce duties, real estate taxes, fuel taxes, and regional taxes, as well as the more traditional corporate taxes and taxes on the employment of labor.  (NB: not all those taxes are enforced, or borne by the corporation, still it is a grim picture.)

That’s the worst in all of Europe, see p.33.

On p.34 you’ll see the numbers for Africa, somehow Democratic Republic of the Congo gets above three hundred percent.  There is much of interest in the entire study.

For the pointer to the study I thank the excellent Economic Lessons from Scandinavia (pdf), by Graeme Leach, from the Legatum Institute.