Maldives: Income and profits taxes
* indicates monthly or quarterly data series
| Maldives |
Income, profits, and capital gains taxes: percent of revenue |
|---|---|
| Latest value | 12.67 |
| Year | 2021 |
| Measure | percent |
| Data availability | 1985 - 2021 |
| Average | 5.55 |
| Min - Max | 1.01 - 24.10 |
| Source | The World Bank |
The latest value from 2021 is 12.67 percent, a decline from 24.1 percent in 2020. In comparison, the world average is 28.52 percent, based on data from 117 countries. Historically, the average for the Maldives from 1985 to 2021 is 5.55 percent. The minimum value, 1.01 percent, was reached in 1987 while the maximum of 24.1 percent was recorded in 2020.
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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 |
|---|---|---|---|
| Fiscal balance, percent of GDP | -13.75 | 2023 | percent |
| Government debt | 115.90 | 2023 | percent |
| Tax revenue | 19.45 | 2021 | percent |
| Commercial tax rate | 30.20 | 2019 | percent |
| Tax preparation time | 391 | 2019 | hours |
| Number of taxes | 17 | 2019 | taxes |
| Taxes on goods and services | 42.27 | 2021 | percent |
| Taxes on international trade | 17.70 | 2021 | percent |
| Income and profits taxes | 12.67 | 2021 | percent |
| Foreign aid | 119.12 | 2022 | million U.S. dollars |