The Morrison government is being pressed by the business sector and tax experts to revamp the tax system as new figures show Australia leads the world in its reliance on personal and company income tax.

Figures released by the OECD on Thursday show that although Australia is a relatively lightly taxed nation, its tax mix is heavily skewed towards the profits of firms and incomes of ordinary workers.

Company tax as a share of GDP – 5.3 per cent – is the highest in the developed world. As a share of total tax revenue, Australia is ranked third behind only Chile and Mexico, with a rate double the global average.

Business and tax experts have seized on new figures showing Australia's increasing reliance on business and personal income taxes to renew calls for tax reform. Credit:Dominic Lorrimer

Australia garners 40.3 per cent of its revenue from income tax. Only Denmark, at 52.9 per cent, has a higher proportion. The figures do not take into account the tax cuts delivered to low- and middle-income earners this year.