Puerto Rico: Commercial tax rate
* indicates monthly or quarterly data series
| Puerto Rico |
Tax rate, percent of commercial profits |
|---|---|
| Latest value | 64.40 |
| Year | 2019 |
| Measure | percent |
| Data availability | 2005 - 2019 |
| Average | 60.75 |
| Min - Max | 49.60 - 67.00 |
| Source | The World Bank (doing business survey) |
The latest value from 2019 is 64.4 percent, unchanged from 64.4 percent in 2018. In comparison, the world average is 40.53 percent, based on data from 184 countries. Historically, the average for Puerto Rico from 2005 to 2019 is 60.75 percent. The minimum value, 49.6 percent, was reached in 2013 while the maximum of 67 percent was recorded in 2015.
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Definition: Total tax rate measures the amount of taxes and mandatory contributions payable by businesses after accounting for allowable deductions and exemptions as a share of commercial profits. Taxes withheld (such as personal income tax) or collected and remitted to tax authorities (such as value added taxes, sales taxes or goods and service taxes) are excluded.
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| Related indicators | Latest | Reference | Measure |
|---|---|---|---|
| Government spending, percent of GDP | 6.87 | 2022 | percent |
| Government spending, in dollars | 8.40 | 2023 | billion U.S. dollars |
| Fiscal balance, percent of GDP | 1.77 | 2022 | percent |
| Government debt | 16.75 | 2022 | percent |
| Commercial tax rate | 64.40 | 2019 | percent |
| Tax preparation time | 218 | 2019 | hours |
| Number of taxes | 16 | 2019 | taxes |