Contributions in Greece fluctuate above the OECD average, according to a new report published today (25.4.2024) by the organization.
In fact, this ranking of Greece by the OECD comes despite the reduction of contributions by 4.4% in the period 2029-2023, while it is recalled that the Minister of Finance has announced new reductions in 2025 and 2027.
The Taxing Wages 2024 report reveals that effective tax rates on labor income increased in the majority of OECD countries, while the tax income of individual workers earning the median wage fell in 21 of the 38 OECD countries.
In the majority of countries, the increase in labor taxation is mainly due to the increase in personal income tax. While real wages fell in 18 OECD countries, nominal wages rose in 37 of 38 OECD countries as inflation remained above historical levels.
In the absence of automatic readjustment of tax systems in many OECD countries, high inflation tends to increase workers’ tax liabilities, pushing them into higher tax brackets, and erodes the value of the tax breaks and benefits they receive.
For a single worker earning the median wage, the average difference between wage and non-wage costs across OECD countries was 34.8%, ranging from 53% in Belgium to 0% in Colombia in 2023. For this type of household, it increased by 0.13 percentage points from 2022, increasing for the second consecutive year.
