Barbados: Taxes on goods and services
* indicates monthly or quarterly data series
| Barbados |
Taxes on goods and services, percent of total revenue |
|---|---|
| Latest value | 45.88 |
| Year | 2016 |
| Measure | percent |
| Data availability | 2003 - 2016 |
| Average | 44.98 |
| Min - Max | 39.61 - 49.78 |
| Source | The World Bank |
The latest value from 2016 is 45.88 percent, a decline from 48.36 percent in 2015. In comparison, the world average is 38.73 percent, based on data from 139 countries. Historically, the average for Barbados from 2003 to 2016 is 44.98 percent. The minimum value, 39.61 percent, was reached in 2009 while the maximum of 49.78 percent was recorded in 2013.
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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 | 11.84 | 2022 | percent |
| Government spending, in dollars | 0.69 | 2022 | billion U.S. dollars |
| Fiscal balance, percent of GDP | -2.00 | 2022 | percent |
| Government debt | 115.50 | 2023 | percent |
| Tax revenue | 27.39 | 2016 | percent |
| Commercial tax rate | 35.60 | 2019 | percent |
| Tax preparation time | 241 | 2019 | hours |
| Number of taxes | 28 | 2019 | taxes |
| 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 |