Palau: Tax revenue
* indicates monthly or quarterly data series
| Palau |
Tax revenue, percent of GDP |
|---|---|
| Latest value | 17.93 |
| Year | 2020 |
| Measure | percent |
| Data availability | 2008 - 2020 |
| Average | 18.25 |
| Min - Max | 15.42 - 20.98 |
| Source | The World Bank |
The latest value from 2020 is 17.93 percent, a decline from 18.37 percent in 2019. In comparison, the world average is 16.22 percent, based on data from 132 countries. Historically, the average for Palau from 2008 to 2020 is 18.25 percent. The minimum value, 15.42 percent, was reached in 2009 while the maximum of 20.98 percent was recorded in 2018.
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Definition: Tax revenue refers to compulsory transfers to the central government for public purposes. Certain compulsory transfers such as fines, penalties, and most social security contributions are excluded. Refunds and corrections of erroneously collected tax revenue are treated as negative revenue.
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| Related indicators | Latest | Reference | Measure |
|---|---|---|---|
| Government spending, percent of GDP | 38.33 | 2022 | percent |
| Government spending, in dollars | 0.09 | 2022 | billion U.S. dollars |
| Fiscal balance, percent of GDP | -6.01 | 2022 | percent |
| Tax revenue | 17.93 | 2020 | percent |
| Commercial tax rate | 76.60 | 2019 | percent |
| Tax preparation time | 52 | 2019 | hours |
| Number of taxes | 11 | 2019 | taxes |
| Taxes on goods and services | 14.15 | 2020 | percent |
| Taxes on international trade | 12.34 | 2020 | percent |
| Income and profits taxes | 8.80 | 2020 | percent |
| Foreign aid | 55.67 | 2022 | million U.S. dollars |