The World Economic Forum this week released its Global Competitiveness Report on the state of the world's economies.

The group analysed data including levels of corruption, inflation, and policy stability to compile a picture of virtually every country.

One of the indicators the WEF uses is a country's tax burden, with higher scores indicating lower competitiveness.

To measure tax it uses the World Bank's total tax rate, which accounts for all the taxes on businesses themselves rather than on the employees.

Business Insider took a look at the countries with total tax rates of more than 50 per cent. Check them out below.

25. Spain . . . 50 per cent

Spain has reduced its overall rates to 50 per cent from 58 per cent, meaning it no longer has one of the five highest tax rates for businesses in Europe.

24. Japan . . . 51.3 per cent

Japan's high tax rates have weighed on the country's ranking in the WEF's competitiveness index. Japan came in at eighth this year, losing three places.

T-22. Mexico . . . 51.7 per cent

Government corruption and bureaucracy are the main hurdles to doing business in Mexico, despite the high tax rates, according to the WEF.

T-22. Austria . . . 51.7 per cent

Austria has some interesting quirks with its tax system. For example, couples are taxed separately even when they are married.

21. Ukraine . . . 52.2 per cent

Businesses in Ukraine have to contend not only with serious geopolitical concerns, but also with some of the highest taxes in Europe.

20. Sri Lanka . . . 55.2 per cent

While Sri Lanka's tax rates are high, the WEF cites policy instability and poor access to financing as bigger hindrances to doing business in the country.

19. Costa Rica . . . 58 per cent

The small nation is one of a few countries in Central America to have a tax rate well in excess of 50 per cent. This in part is due to to high levels of tax activism in recent years, which has led policymakers to increase total taxes.

18. Belgium . . . 58.4 per cent

The home of the European Union has the fourth-highest rate of tax in the eurozone and the highest outside the "big five" Euro countries.

17. Tunisia . . . 59.9 per cent

Tunisia's rate is high but has decreased from more than 62 per cent recorded last year by the WEF.

16. India . . . 60.6 per cent

The efficiency of India's domestic market is hindered by fiscal regulations that allow federal states to levy different levels of value-added taxes.

15. France . . . 62.7 per cent

The current government has overhauled the tax system and cut corporate levies, but France still has higher levels of tax than its European peers.

T-13. Benin . . . 63.3 per cent

The World Bank says the country's corporate income tax runs to only 15.9 per cent, but a bundle of other taxes raise the total rate imposed on businesses significantly.

T-13. Gambia . . . 63.3 per cent

Without major natural resources, Gambia is among the poorest nations in the world. Taxes on turnover rather than profit raise rates for businesses significantly.

12. Chad . . . 63.5 per cent

Like Gambia, Chad relies on agriculture and is extremely poor. It taxes 1.5 per cent of turnover or 40 per cent or profits, depending on which is higher.

11. Nicaragua . . . 63.9 per cent

The country suffers from high levels of government bureaucracy as well as high tax rates, according to the WEF.

10. Italy . . . 64.8 per cent

Italy's high tax rate is the single most problematic factor for doing business in the country, according to the WEF, beating its government bureaucracy.

9. Venezuela . . . 65 per cent

The economy of Venezuela is wracked by inflation, crime, and corruption, according to the WEF. It pursued a higher-tax model, with dramatic increases in taxes for foreign oil companies under former President Hugo Chavez.

8. China . . . 67.8 per cent

China faces a worsening fiscal situation — the budget deficit more than doubled from 2014 to 2015, to reach 2.7 per cent of gross domestic product.

7. Brazil . . . 69.2 per cent

Brazil is losing competitiveness fast. In the context of negative terms of trade shocks and political turmoil, the country fell six positions to 81st.

6. Colombia . . . 69.7 per cent

The country has reduced its rate from over 73 per cent last year, but its rate is still one of the highest in the world.

5. Mauritania . . . 71.3 per cent

In 2013, this agriculture-dependent country brought in a withholding tax of 15 per cent to stop people from moving payments to nonresidents.

4. Algeria . . . 72.7 per cent

Algeria has the highest total tax rate in Africa.

3. Tajikistan . . . 81.8 per cent

The country in Central Asia has increased its rate from 80.9 per cent last year, according to the WEF.

2. Bolivia . . . 83.7 per cent

Bolivia's transaction tax skims 60 per cent of company profits, even before other taxes are taken into account.

1. Argentina . . . 137.4 per cent

The country's turnover tax alone eats up nearly 90 per cent of corporate earnings, before taxes on salaries and financial transactions are taken into account.

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