- A recent Tax Foundation report highlights that businesses in Europe are crucial to tax collection, contributing 87% of total taxes through both direct payments and taxes collected on behalf of others, enabling governments to fund essential services.
- On average, European countries derive 38.4% of their tax revenues from taxes directly owed by businesses, with countries like Czechia, Poland, and the Slovak Republic being highly reliant on business contributions, while Denmark and Iceland have the lowest reliance.
- Businesses not only pay taxes but also collect and remit a significant portion, averaging 48.4% of total tax revenues; this legal remittance responsibility underscores the essential role businesses play in public finance systems across Europe.
