Denmark to reform its costly social security system
Denmark posts the highest tax burden of all OECD member states, accounting to ca 50% GDP. “We want to promote a society in which it is easier to support yourself and your family before you hand over a large share of your income to fund the costs of society,” Prime Minister Lars Lokke Rasmussen said. At present, the income tax has two components, the central and the local one, amounting to as much as 15% and 20 to 27%, respectively. Employees are also obliged to pay health and social insurance, with no employer contributions being part of the system.
- Idnes.cz -