'Tax liberation day' arrived a day earlier this year – May 12th – for the typical British worker, according to a study by Brussels think tank Institut économique Molinari and published by New Direction.

The research, part of a Europe-wide survey conducted by accountants EY, showed that the tax burden on average earnings fell in the UK while rising across the European Union as a whole. Britain's workers are among the lowest taxed in the EU, with only those in Ireland , Malta and Cyprus enjoying earlier 'tax liberation days'.

Belgium places the heaviest burden on its workers, with France and Germany both also taking more than half workers' gross salaries in income taxes, social security and VAT.

Tax Liberation Day is the calendar day on which a worker theoretically stops working to pay taxes to the state and begins to keep his/her earnings. The data in the calendar reflect the reality experienced by real, working people in the European Union and the true cost of hiring employees in each state.

For more information visit http://newdirectionfoundation.org/content/2014-tax-liberation-calendar-2014-steuerzahlertagkalendar.

Calculator and pen (PD)

Comment Here!