Puerto Rico: Tax preparation time
* indicates monthly or quarterly data series
| Puerto Rico |
Tax preparation time, in hours |
|---|---|
| Latest value | 218 |
| Year | 2019 |
| Measure | hours |
| Data availability | 2005 - 2019 |
| Average | 202 |
| Min - Max | 140 - 218 |
| Source | The World Bank (doing business survey) |
The latest value from 2019 is 218 hours, unchanged from 218 hours in 2018. In comparison, the world average is 235 hours, based on data from 184 countries. Historically, the average for Puerto Rico from 2005 to 2019 is 202 hours. The minimum value, 140 hours, was reached in 2005 while the maximum of 218 hours was recorded in 2008.
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Definition: Time to prepare and pay taxes is the time, in hours per year, it takes to prepare, file, and pay (or withhold) three major types of taxes: the corporate income tax, the value added or sales tax, and labor taxes, including payroll taxes and social security contributions.
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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 |