In its Paying Taxes 2014: The global picture, A comparison of tax systems in 189 economies worldwide, PricewaterhouseCoopers International Ltd. writes "…the global average Total Tax Rate has continued to fall in 2012, 14 economies have significantly increased their rate while 14 have reduced it." The average for the Asia Pacific region, 36.4 percent, is below the global average, with profit taxes accounting for the largest portion of the Total Tax Rate. In fact, the report notes that in 23 of the 37 economies in the region taxes on profits account for more than half of the Total Tax Rate. The trend in the region is, however, for increasing labor taxes and reducing other taxes, which is also consistent with a global trend. |