Palau: Taxes on goods and services
* indicates monthly or quarterly data series
| Palau |
Taxes on goods and services, percent of total revenue |
|---|---|
| Latest value | 14.15 |
| Year | 2020 |
| Measure | percent |
| Data availability | 2008 - 2020 |
| Average | 21.84 |
| Min - Max | 14.15 - 26.95 |
| Source | The World Bank |
The latest value from 2020 is 14.15 percent, a decline from 21.13 percent in 2019. In comparison, the world average is 37.67 percent, based on data from 132 countries. Historically, the average for Palau from 2008 to 2020 is 21.84 percent. The minimum value, 14.15 percent, was reached in 2020 while the maximum of 26.95 percent was recorded in 2015.
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Definition: Taxes on goods and services include general sales and turnover or value added taxes, selective excises on goods, selective taxes on services, taxes on the use of goods or property, taxes on extraction and production of minerals, and profits of fiscal monopolies.
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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 |