Bhutan: Income and profits taxes
* indicates monthly or quarterly data series
| Bhutan |
Income, profits, and capital gains taxes: percent of revenue |
|---|---|
| Latest value | 19.94 |
| Year | 2020 |
| Measure | percent |
| Data availability | 1982 - 2020 |
| Average | 14.03 |
| Min - Max | 3.82 - 28.86 |
| Source | The World Bank |
The latest value from 2020 is 19.94 percent, a decline from 28.86 percent in 2019. In comparison, the world average is 27.95 percent, based on data from 129 countries. Historically, the average for Bhutan from 1982 to 2020 is 14.03 percent. The minimum value, 3.82 percent, was reached in 1982 while the maximum of 28.86 percent was recorded in 2019.
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Definition: Taxes on income, profits, and capital gains are levied on the actual or presumptive net income of individuals, on the profits of corporations and enterprises, and on capital gains, whether realized or not, on land, securities, and other assets. Intragovernmental payments are eliminated in consolidation.
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| Related indicators | Latest | Reference | Measure |
|---|---|---|---|
| Government spending, percent of GDP | 21.02 | 2022 | percent |
| Government spending, in dollars | 0.61 | 2022 | billion U.S. dollars |
| Fiscal balance, percent of GDP | -4.63 | 2023 | percent |
| Government debt | 116.07 | 2023 | percent |
| Tax revenue | 12.28 | 2020 | percent |
| Commercial tax rate | 35.30 | 2019 | percent |
| Tax preparation time | 52 | 2019 | hours |
| Number of taxes | 18 | 2019 | taxes |
| Taxes on goods and services | 17.93 | 2020 | percent |
| Taxes on international trade | 2.87 | 2020 | percent |
| Income and profits taxes | 19.94 | 2020 | percent |
| Foreign aid | 194.44 | 2022 | million U.S. dollars |