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The Covid-19 pandemic sparked the largest decrease in taxes on wages since the 2008 global financial crisis, according to a new report by the Organisation for Economic Co-operation and Development.
Lower household incomes coupled with tax reforms linked to the pandemic are driving widespread declines in taxes on wages across the 37-member bloc, the OECD's
Governments and central banks have provided more than $12 trillion in monetary and fiscal support to economies since the outbreak of the pandemic, which disrupted economic activity and tipped the world into one of the steepest recessions since the Great Depression.
The decrease was derived for the most part from lower income taxes, linked in part to lower nominal average wages in 16 countries, and in part to policy changes