Bahamas: Taxes on goods and services
* indicates monthly or quarterly data series
| Bahamas |
Taxes on goods and services, percent of total revenue |
|---|---|
| Latest value | 57.13 |
| Year | 2022 |
| Measure | percent |
| Data availability | 1992 - 2022 |
| Average | 29.37 |
| Min - Max | 2.82 - 67.36 |
| Source | The World Bank |
The latest value from 2022 is 57.13 percent, a decline from 61.14 percent in 2021. In comparison, the world average is 32.92 percent, based on data from 20 countries. Historically, the average for the Bahamas from 1992 to 2022 is 29.37 percent. The minimum value, 2.82 percent, was reached in 1993 while the maximum of 67.36 percent was recorded in 2019.
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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.
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| Related indicators | Latest | Reference | Measure |
|---|---|---|---|
| Government spending, percent of GDP | 13.82 | 2022 | percent |
| Government spending, in dollars | 1.86 | 2023 | billion U.S. dollars |
| Fiscal balance, percent of GDP | -3.80 | 2023 | percent |
| Government debt | 86.40 | 2023 | percent |
| Government expenditure | 0.47 | Q4/2023 | billion |
| Tax revenue | 16.73 | 2022 | percent |
| Commercial tax rate | 33.80 | 2019 | percent |
| Tax preparation time | 155 | 2019 | hours |
| Number of taxes | 20 | 2019 | taxes |
| Taxes on goods and services | 57.13 | 2022 | percent |
| Taxes on international trade | 19.64 | 2022 | percent |
| Foreign aid | 4.48 | 2004 | million U.S. dollars |