Determinants of Tax Revenue: A Comparison Between ASEAN-7 Plus China And 8- European Countries

The aim of this paper is analyzing the level ratio tax revenue and GDP depending on different consumer behaviors between two groups countries: ASEAN-7 plus China (called Eastern) eight European countries Western). study applied Feasible Generalized Least Square model to confirm robustness Panel Corrected Standard Errors model, results indicate that all have a positive association with human capital FDI variables. In addition, in Eastern, forest area broad money has statistically significantly impact while gross savings negative one. Further, Western witnessed variables lead decrease revenue. major East, Governments should focus how improve their taxation by promoting - M2 expanding as well support consumers spending more instead saving. contrast, try reduce M2, encouraging save more. Eastern governments may control natural demographic determinants aimed sustainable economic growth.