Jamaica: Taxes on goods and services
* indicates monthly or quarterly data series
| Jamaica |
Taxes on goods and services, percent of total revenue |
|---|---|
| Latest value | 45.81 |
| Year | 2020 |
| Measure | percent |
| Data availability | 1988 - 2020 |
| Average | 38.66 |
| Min - Max | 24.87 - 49.29 |
| Source | The World Bank |
The latest value from 2020 is 45.81 percent, a decline from 48.24 percent in 2019. In comparison, the world average is 32.02 percent, based on data from 133 countries. Historically, the average for Jamaica from 1988 to 2020 is 38.66 percent. The minimum value, 24.87 percent, was reached in 1990 while the maximum of 49.29 percent was recorded in 2017.
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Definition: General taxes on goods and services are taxes levied on the production, leasing, delivery, sale, purchase or other change of ownership of a wide range of goods and the provision of a wide range of services. 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 | 0.22 | 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 |