Caribbean small states - Taxes on goods and services (% of revenue)

Taxes on goods and services (% of revenue) in Caribbean small states was 25.97 as of 2019. Its highest value over the past 31 years was 38.39 in 1998, while its lowest value was 24.84 in 2008.

Definition: Taxes on goods and services include general sales and turnover or value added taxes, selective excises on goods, selective taxes on services, taxes on the use of goods or property, taxes on extraction and production of minerals, and profits of fiscal monopolies.

Source: International Monetary Fund, Government Finance Statistics Yearbook and data files.

See also:

Year Value
1988 28.32
1989 24.97
1990 24.87
1991 27.06
1992 30.84
1993 35.99
1994 35.21
1995 37.24
1996 36.53
1997 36.83
1998 38.39
1999 36.45
2000 36.20
2001 30.67
2002 32.24
2003 28.85
2004 29.43
2005 26.24
2006 26.19
2007 25.60
2008 24.84
2009 26.21
2010 29.16
2011 28.73
2012 30.11
2013 29.34
2014 29.00
2015 30.89
2016 33.70
2017 34.00
2018 33.13
2019 25.97

Limitations and Exceptions: For most countries central government finance data have been consolidated into one account, but for others only budgetary central government accounts are available. Countries reporting budgetary data are noted in the country metadata. Because budgetary accounts may not include all central government units (such as social security funds), they usually provide an incomplete picture. In federal states the central government accounts provide an incomplete view of total public finance. Data on government revenue and expense are collected by the IMF through questionnaires to member countries and by the Organisation for Economic Co-operation and Development (OECD). Despite IMF efforts to standardize data collection, statistics are often incomplete, untimely, and not comparable across countries.

Statistical Concept and Methodology: The IMF's Government Finance Statistics Manual 2014, harmonized with the 2008 SNA, recommends an accrual accounting method, focusing on all economic events affecting assets, liabilities, revenues, and expenses, not just those represented by cash transactions. It accounts for all changes in stocks, so stock data at the end of an accounting period equal stock data at the beginning of the period plus flows over the period. The 1986 manual considered only debt stocks. Government finance statistics are reported in local currency. Many countries report government finance data by fiscal year; see country metadata for information on fiscal year end by country.

Aggregation method: Median

Periodicity: Annual

Classification

Topic: Public Sector Indicators

Sub-Topic: Government finance