Barbados: Income and profits taxes
* indicates monthly or quarterly data series
| Barbados |
Income, profits, and capital gains taxes: percent of revenue |
|---|---|
| Latest value | 29.98 |
| Year | 2016 |
| Measure | percent |
| Data availability | 2003 - 2016 |
| Average | 31.82 |
| Min - Max | 27.63 - 36.96 |
| Source | The World Bank |
The latest value from 2016 is 29.98 percent, an increase from 29.66 percent in 2015. In comparison, the world average is 23.77 percent, based on data from 135 countries. Historically, the average for Barbados from 2003 to 2016 is 31.82 percent. The minimum value, 27.63 percent, was reached in 2013 while the maximum of 36.96 percent was recorded in 2007.
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Definition: Taxes on income, profits, and capital gains are taxes payable on the actual or presumed incomes, profits and capital gains. This indicator is expressed as a percentage of revenue which includes all transactions that add to the amount of economic value of a unit or sector.
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| Related indicators | Latest | Reference | Measure |
|---|---|---|---|
| Fiscal balance, percent of GDP | -0.88 | 2024 | percent |
| Primary budget balance | 4.28 | 2024 | percent |
| Tax revenue | 23.38 | 2016 | percent |
| Commercial tax rate | 35.60 | 2019 | percent |
| Tax preparation time | 241 | 2019 | hours |
| Taxes on goods and services | 45.88 | 2016 | percent |
| Taxes on international trade | 8.57 | 2016 | percent |
| Income and profits taxes | 29.98 | 2016 | percent |
| Foreign aid | 15.58 | 2010 | million U.S. dollars |
| Government debt | 104.81 | 2024 | percent |
| Government debt in foreign currency, percent | 37.96 | 2024 | percent |
| Government debt held by non-residents | 37.96 | 2024 | percent |
| Short-term government debt | 3.60 | 2024 | percent |