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 | 15.78 |
| Year | 2007 |
| Measure | percent |
| Data availability | 1993 - 2007 |
| Average | 24.96 |
| Min - Max | 14.24 - 34.37 |
| Source | The World Bank |
The latest value from 2007 is 15.78 percent, an increase from 14.24 percent in 2006. In comparison, the world average is 36.04 percent, based on data from 110 countries. Historically, the average for Trinidad and Tobago from 1993 to 2007 is 24.96 percent. The minimum value, 14.24 percent, was reached in 2006 while the maximum of 34.37 percent was recorded in 1998.
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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 | 25.06 | 2007 | 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 | 15.78 | 2007 | percent |
| Taxes on international trade | 5.11 | 2007 | percent |
| Income and profits taxes | 60.89 | 2007 | percent |
| Foreign aid | 4.34 | 2010 | million U.S. dollars |