International empirics.
Georgeta Vintilă 18, “An Analysis of the Impact of Tax Reforms on Business Confidence: Empirical Evidence From the EU Member States,” DOI:10.24193/tras.SI2018.6
For all the other Member States that were not included in the first group we could reach conclusions regarding the influence of tax policy and tax reforms on business confidence for at least one of the sectors that we included in our analysis. In most cases an increase in taxation would lead to a decrease in business confidence: a higher direct tax burden would have a negative impact on business confidence in Croatia, Lithuania, Hungary, Austria, Poland and Slovakia; an increase in indirect taxes would negatively impact business confidence in Denmark, Germany, Greece, Cyprusand Sweden; higher social security contributions could diminish business confidencein the Czech Republic, Denmark, Germany, France, Italy, Latvia, Luxembourg, Slovenia and Finland. As an overall conclusion, the social security tax burden seems to have the greatest impact on business confidence in European countries.