Solomon Islands: Taxes on goods and services
* indicates monthly or quarterly data series
| Solomon Islands |
Taxes on goods and services, percent of total revenue |
|---|---|
| Latest value | 19.05 |
| Year | 2022 |
| Measure | percent |
| Data availability | 2011 - 2022 |
| Average | 16.26 |
| Min - Max | 12.64 - 22.14 |
| Source | The World Bank |
The latest value from 2022 is 19.05 percent, an increase from 12.64 percent in 2020. In comparison, the world average is 37.61 percent, based on data from 95 countries. Historically, the average for the Solomon Islands from 2011 to 2022 is 16.26 percent. The minimum value, 12.64 percent, was reached in 2020 while the maximum of 22.14 percent was recorded in 2017.
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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 | 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 |