Trinidad and Tobago: Tax revenue
* indicates monthly or quarterly data series
| Trinidad and Tobago |
Tax revenue, percent of GDP |
|---|---|
| Latest value | 16.55 |
| Year | 2019 |
| Measure | percent |
| Data availability | 1976 - 2019 |
| Average | 25.64 |
| Min - Max | 16.55 - 35.65 |
| Source | The World Bank |
The latest value from 2019 is 16.55 percent, a decline from 19.32 percent in 2018. In comparison, the world average is 17.05 percent, based on data from 128 countries. Historically, the average for Trinidad and Tobago from 1976 to 2019 is 25.64 percent. The minimum value, 16.55 percent, was reached in 2019 while the maximum of 35.65 percent was recorded in 1980.
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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 |
|---|---|---|---|
| Fiscal balance, percent of GDP | -1.70 | 2023 | percent |
| Government debt | 67.60 | 2023 | percent |
| Tax revenue | 16.55 | 2019 | percent |
| Commercial tax rate | 40.50 | 2019 | percent |
| Tax preparation time | 210 | 2019 | hours |
| Number of taxes | 39 | 2019 | taxes |
| Taxes on goods and services | 20.85 | 2019 | percent |
| Taxes on international trade | 5.98 | 2019 | percent |
| Income and profits taxes | 26.09 | 2019 | percent |
| Foreign aid | 4.34 | 2010 | million U.S. dollars |