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1 Cristina Enache, Savings and Investment: The Tax Treatment of Stock and Retirement Accounts in the OECD and Select EU Countries 1 (2024)

handle is hein.taxfoundation/savinvest0001 and id is 1 raw text is: *TAX FOUNDATION Savings and Investment: The Tax Treatment of Stock and Retirement Accounts in the OECD and Select EU Countries Cristina Enache Economist January 2024 Key Findings • On average, in the Organisation for Co-operation and Development (OECD) and select European Union countries, long-term capital gains from the sale of shares are taxed at a top rate of 18.78 percent, and dividends are taxed at a top rate of 23.85 percent. • There are two layers of tax on investment income. First, corporations pay the corporate income tax on their profits. Second, shareholders pay an income tax on both the dividends and capital gains they receive. • Since corporate income is taxed twice, on average, the OECD and select EU countries tax corporate income distributed as dividends at 41.16 percent and capital gains derived from corporate income at 37.38 percent. • To encourage long-term retirement savings, countries commonly provide tax preferences for private retirement accounts. These usually provide a tax exemption for the initial principal investment amount and/or for the investment returns. • Tax-preferred private retirement accounts often have complex rules and limitations. Universal savings accounts could be a simpler alternative-or addition-to many countries' current system of private retirement savings accounts. The Tax Foundation is the world's leading nonpartisan tax policy 501 (c)(3) nonprofit. For over 80 years, our mission has remained the same: to improve lives through tax policies that lead to greater economic growth and opportunity. TAX FOUNDATION 1325 G STREET, NW, SUITE 950, WASHINGTON, DC 20005 202-464-6200 1 laxfoundation.org

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