There are a myriad of issues in trying to establish a true fatality rate for a given disease. False negative test results, attribution of fatality to underlying disease, lack of reporting capabilities, differences in criteria among reporting agencies, etc. Looking at the change in deaths year over year is a good way to get a better idea of the impact of the pandemic on mortality. If there is significant difference in the number of deaths in a location after accounting for those attributed to COVID-19 by the reporting agencies, it is highly likely that those unaccounted for deaths are also due to the virus whether directly or indirectly. These data should be taken into account when governments, public health authorities, and businesses assess situations and responses. Here is a link to Excess Death data for a variety of countries managed by The Economist.
https://www.economist.com/graphic-detail/2020/04/16/tracking-covid-19-excess-deaths-across-countries