Solomon Islands: Tax revenue
* indicates monthly or quarterly data series
| Solomon Islands |
Tax revenue, percent of GDP |
|---|---|
| Latest value | 20.67 |
| Year | 2022 |
| Measure | percent |
| Data availability | 2011 - 2022 |
| Average | 24.07 |
| Min - Max | 20.67 - 26.61 |
| Source | The World Bank |
The latest value from 2022 is 20.67 percent, a decline from 21.45 percent in 2021. In comparison, the world average is 17.41 percent, based on data from 94 countries. Historically, the average for the Solomon Islands from 2011 to 2022 is 24.07 percent. The minimum value, 20.67 percent, was reached in 2022 while the maximum of 26.61 percent was recorded in 2013.
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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 | 29.19 | 2022 | percent |
| Government spending, in dollars | 0.46 | 2022 | billion U.S. dollars |
| Fiscal balance, percent of GDP | -7.02 | 2023 | percent |
| Government debt | 16.00 | 2022 | percent |
| Tax revenue | 20.67 | 2022 | percent |
| Commercial tax rate | 32.00 | 2019 | percent |
| Tax preparation time | 80 | 2019 | hours |
| Number of taxes | 34 | 2019 | taxes |
| Taxes on goods and services | 19.05 | 2022 | percent |
| Taxes on international trade | 27.55 | 2022 | percent |
| Income and profits taxes | 27.63 | 2022 | percent |
| Foreign aid | 252.73 | 2022 | million U.S. dollars |