Covid Fiscal Support Reduced Economic Damage, OECD Tax Data Show

The fiscal health of many countries deteriorated in 2020, but that didn’t translate into the dramatic falls in tax revenue seen after the global financial crisis a decade earlier, according to a report from the OECD.

Tax revenue as a percentage of GDP was on average 33.5% in 2020, an increase of 0.1 percentage points from 2019, according to the Organization for Economic Cooperation and Development review of the tax collection of its 38 member countries.

“The COVID-19 pandemic led to a more severe global recession in the short term, but is expected to give ...