Taxes on goods and services in Bahamas
Bahamas: Taxes on goods and services was 58.7% in 2024. ◆ Volatile
Taxes on goods and services in Bahamas, 1992–2024
Source: Government Finance Statistics Yearbook and data files, International Monetary Fund (IMF). Measured in % of revenue.
Analysis
The most recent figure for taxes on goods and services in Bahamas is 58.7%, measured in 2024.
Compared with earlier readings it is up 2.8% on the previous year and up 37.2% over ten years.
Over the whole period, taxes on goods and services in Bahamas peaked at 67.4% in 2019 and was at its lowest, 2.8%, in 1993.
Bahamas ranks 3rd of 156 countries on this measure, in the top 10%.
The series is highly variable year to year, so single readings are best treated with caution.
Taxes on goods and services in Bahamas, year by year
| Year | % of revenue | Change |
|---|---|---|
| 1992 | 4.8% | — |
| 1993 | 2.8% | -41.1% |
| 1994 | 5.0% | +77.4% |
| 1995 | 8.8% | +74.9% |
| 1996 | 5.2% | -40.2% |
| 1997 | 5.6% | +7.3% |
| 1998 | 6.6% | +17.8% |
| 1999 | 5.4% | -18.4% |
| 2000 | 12.7% | +135.3% |
| 2001 | 10.2% | -19.6% |
| 2002 | 11.5% | +12.5% |
| 2003 | 9.6% | -16.7% |
| 2004 | 12.4% | +29.5% |
| 2005 | 16.3% | +31.6% |
| 2006 | 26.1% | +60.1% |
| 2007 | 29.1% | +11.4% |
| 2008 | 11.1% | -61.9% |
| 2009 | 28.4% | +156.1% |
| 2010 | 39.9% | +40.5% |
| 2011 | 47.1% | +18.0% |
| 2012 | 43.8% | -7.0% |
| 2013 | 40.8% | -6.8% |
| 2014 | 42.8% | +4.8% |
| 2015 | 52.1% | +21.7% |
| 2016 | 58.0% | +11.5% |
| 2017 | 61.9% | +6.7% |
| 2018 | 62.5% | +0.9% |
| 2019 | 67.4% | +7.8% |
| 2020 | 64.5% | -4.2% |
| 2021 | 61.1% | -5.3% |
| 2022 | 57.1% | -6.6% |
| 2023 | 57.1% | -0.1% |
| 2024 | 58.7% | +2.8% |
Bahamas compared with similar countries
- Bahamas's 58.7% is above the median for high income countries, which is 26.4%, 2.2× the median. (57 countries reporting)
- Bahamas's 58.7% is above the median for Latin America & Caribbean, which is 36.3%, 1.6× the median. (25 countries reporting)
Biggest year-on-year movements
Years where Taxes on goods and services in Bahamas changed far more than this series normally does. A large move can be a real event or a change in how the figure was measured — the source note below says who published it.
| Year | Change | From | To |
|---|---|---|---|
| 2009 | +156.1% | 11.1% | 28.4% |
| 2000 | +135.3% | 5.4% | 12.7% |
Averages by decade
| Decade | Average | Lowest | Highest | Years |
|---|---|---|---|---|
| 1990s | 5.5% | 2.8% | 8.8% | 8 |
| 2000s | 16.7% | 9.6% | 29.1% | 10 |
| 2010s | 51.6% | 39.9% | 67.4% | 10 |
| 2020s | 59.7% | 57.1% | 64.5% | 5 |
Countries ranked near Bahamas
- 1 Macau, China 76.2% compare
- 2 Sudan 59.8% compare
- 4 Lao People's Democratic Republic 53.9% compare
- 5 Mauritius 53.3% compare
- 6 Guatemala 51.9% compare
More public sector data for Bahamas
- Arms imports 12.00 million SIPRI trend indicator values (2017)
- Arms imports (SIPRI trend indicator values), per capita 30.73 SIPRI trend indicator values per person (2017)
- Arms imports (SIPRI trend indicator values), per unit of GDP 0.001 SIPRI trend indicator values per US$ of GDP (2017)
- Arms imports (SIPRI trend indicator values), gaps filled 12.00 million SIPRI trend indicator values (2017)
- Arms imports (SIPRI trend indicator values), per square kilometre 1,199 SIPRI trend indicator values per square kilometre (2017)
- Tax revenue 17.3% (2024)
- Capital stock, General government, Current prices, Domestic currency 2.72 (2019)
- Capital stock, General government, Constant prices, Percent of GDP 24.77 (2019)
- Capital stock, General government, Constant prices, Purchasing power 3.16 (2019)
- Net investment in nonfinancial assets 1.6% (2024)
Frequently asked questions
- What is taxes on goods and services in Bahamas?
- Taxes on goods and services in Bahamas was 58.7% in 2024, according to Government Finance Statistics Yearbook and data files, International Monetary Fund (IMF).
- What is the highest taxes on goods and services recorded in Bahamas?
- The highest recorded value was 67.4% in 2019.
- What is the lowest taxes on goods and services recorded in Bahamas?
- The lowest recorded value was 2.8% in 1993.
- How does Bahamas rank for taxes on goods and services?
- Bahamas ranks 3rd out of 156 countries with data for 2024.
- Is taxes on goods and services rising or falling in Bahamas?
- Over the last ten years it is up 37.2%. The long-run trend across the full record is volatile.
- Where does this Bahamas data come from?
- The figures come from Government Finance Statistics Yearbook and data files, International Monetary Fund (IMF), published as part of Taxes on goods and services (% of revenue). Statizoid updates them automatically from the source API.
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About this data
General taxes on goods and services are taxes levied on the production, leasing, delivery, sale, purchase or other change of ownership of a wide range of goods and the provision of a wide range of services. This indicator is expressed as a percentage of revenue which includes all transactions that add to the amount of economic value of a unit or sector.