Jamaica: Tax revenue
* indicates monthly or quarterly data series
| Jamaica |
Tax revenue, percent of GDP |
|---|---|
| Latest value | 23.67 |
| Year | 2020 |
| Measure | percent |
| Data availability | 1988 - 2020 |
| Average | 23.26 |
| Min - Max | 19.91 - 25.53 |
| Source | The World Bank |
The latest value from 2020 is 23.67 percent, a decline from 25.53 percent in 2019. In comparison, the world average is 16.17 percent, based on data from 133 countries. Historically, the average for Jamaica from 1988 to 2020 is 23.26 percent. The minimum value, 19.91 percent, was reached in 1997 while the maximum of 25.53 percent was recorded in 2019.
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Definition: Taxes are compulsory, unrequited payments, in cash or in kind, made by institutionalunits to government units. This indicator is expressed as a percentage of Gross Domestic Product (GDP) which is the total income earned through the production of goods and services in an economic territory during an accounting period.
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| Related indicators | Latest | Reference | Measure |
|---|---|---|---|
| Fiscal balance, percent of GDP | 0.22 | 2024 | percent |
| Primary budget balance | 5.37 | 2024 | percent |
| Tax revenue | 23.67 | 2020 | percent |
| Commercial tax rate | 35.10 | 2019 | percent |
| Tax preparation time | 268 | 2019 | hours |
| Taxes on goods and services | 45.81 | 2020 | percent |
| Taxes on international trade | 8.83 | 2020 | percent |
| Income and profits taxes | 33.24 | 2020 | percent |
| Foreign aid | 86.41 | 2023 | million U.S. dollars |
| Government debt | 62.43 | 2024 | percent |