Trinidad and Tobago: Taxes on goods and services
* indicates monthly or quarterly data series
| Trinidad and Tobago |
Taxes on goods and services, percent of total revenue |
|---|---|
| Latest value | 20.85 |
| Year | 2019 |
| Measure | percent |
| Data availability | 2001 - 2019 |
| Average | 16.89 |
| Min - Max | 11.88 - 26.21 |
| Source | The World Bank |
The latest value from 2019 is 20.85 percent, an increase from 18.46 percent in 2018. In comparison, the world average is 32.58 percent, based on data from 135 countries. Historically, the average for Trinidad and Tobago from 2001 to 2019 is 16.89 percent. The minimum value, 11.88 percent, was reached in 2014 while the maximum of 26.21 percent was recorded in 2002.
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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 |
|---|---|---|---|
| Fiscal balance, percent of GDP | -1.70 | 2023 | percent |
| Government debt | 67.60 | 2023 | percent |
| Tax revenue | 16.68 | 2019 | percent |
| Commercial tax rate | 40.50 | 2019 | percent |
| Tax preparation time | 210 | 2019 | hours |
| 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 |