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Latin America Tax Revenue & Caribbean Tax Revenue

Taxes on solutions and also products were on ordinary the biggest resource of tax obligation income for LAC nations, at 49.7 percent of overall tax obligation earnings in 2019, contrasted to one-third in OECD nations. BARREL most crucial tax obligation earnings resource for Latin America and also Caribbean nations”srcset=”https://files.taxfoundation.org/20210428152509/Latin-America-tax-revenue-Caribbean-tax-revenue.-VAT-most-important-tax-revenue-source-for-Latin-America-and-Caribbean-countries.png 1272w, https://files.taxfoundation.org/20210428152509/Latin-America-tax-revenue-Caribbean-tax-revenue.-VAT-most-important-tax-revenue-source-for-Latin-America-and-Caribbean-countries-300×212.png 300w, https://files.taxfoundation.org/20210428152509/Latin-America-tax-revenue-Caribbean-tax-revenue.-VAT-most-important-tax-revenue-source-for-Latin-America-and-Caribbean-countries-768×543.png 768w, https://files.taxfoundation.org/20210428152509/Latin-America-tax-revenue-Caribbean-tax-revenue.-VAT-most-important-tax-revenue-source-for-Latin-America-and-Caribbean-countries-1024×725.png 1024w “dimensions=”( max-width: 1272px)100vw, 1272px”/ > Between 1990 and also 2019, income resources moved to VAT (rise of 12.3 percent factors of overall tax obligations)and also company and also specific tax obligations( rise of 7.4 portion factors of complete tax obligations. While the share of business tax obligations is still greater than the share of specific tax obligations, considering that 2007, company tax obligation earnings has actually decreased by 0.8 percent factors of complete tax obligation profits.

Taxes on solutions and also items were on typical the best resource of tax obligation earnings for LAC nations, at 49.7 percent of overall tax obligation earnings in 2019, contrasted to one-third in OECD nations. Between 1990 and also 2019, income resources moved to VAT (boost of 12.3 percent factors of overall tax obligations)as well as company as well as private tax obligations( boost of 7.4 portion factors of overall tax obligations. While the share of company tax obligations is still greater than the share of specific tax obligations, considering that 2007, company tax obligation earnings has actually decreased by 0.8 portion factors of overall tax obligation earnings. Intake Taxes Other than VAT covers the OECD group 5000 Taxes on solutions as well as products minus the group 5111 Value-added tax obligations.

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