Taxes on goods and services in Palau
Palau: Taxes on goods and services was 7.8% in 2020. ▲ Rising
Taxes on goods and services in Palau, 2008–2020
Source: Government Finance Statistics Yearbook and data files, International Monetary Fund (IMF). Measured in % value added of industry and services.
Analysis
The most recent figure for taxes on goods and services in Palau is 7.8%, measured in 2020. That is the lowest value across all 13 years on record.
That represents a change of down 23.4% on the previous year and down 16.4% over ten years.
Over the whole period, taxes on goods and services in Palau peaked at 12.5% in 2015 and was at its lowest, 7.8%, in 2020.
Palau ranks 103rd of 154 countries on this measure, in the middle of the range.
The long-run direction has been consistently rising across the 13 years of available data.
Taxes on goods and services in Palau, year by year
| Year | % value added of industry and services | Change |
|---|---|---|
| 2008 | 8.7% | — |
| 2009 | 8.4% | -3.2% |
| 2010 | 9.3% | +11.0% |
| 2011 | 11.0% | +18.0% |
| 2012 | 11.2% | +1.7% |
| 2013 | 11.8% | +5.5% |
| 2014 | 12.1% | +2.6% |
| 2015 | 12.5% | +2.9% |
| 2016 | 11.5% | -7.6% |
| 2017 | 11.5% | -0.2% |
| 2018 | 12.5% | +8.2% |
| 2019 | 10.2% | -18.2% |
| 2020 | 7.8% | -23.4% |
Averages by decade
| Decade | Average | Lowest | Highest | Years |
|---|---|---|---|---|
| 2000s | 8.6% | 8.4% | 8.7% | 2 |
| 2010s | 11.4% | 9.3% | 12.5% | 10 |
| 2020s | 7.8% | 7.8% | 7.8% | 1 |
Countries ranked near Palau
More public sector data for Palau
- Tax revenue 18.1% (2020)
- Taxes on income, profits and capital gains 8.8% (2020)
- Taxes on goods and services 14.2% (2020)
- Net investment in nonfinancial assets 6.4% (2020)
- Net lending (+) / net borrowing (-) -9.5% (2020)
- Interest payments 0.6% (2020)
- Grants and other revenue 63.3% (2020)
- Interest payments 0.5% (2020)
- Other taxes 1.4% (2020)
- Compensation of employees 31.0% (2020)
Frequently asked questions
- What is taxes on goods and services in Palau?
- Taxes on goods and services in Palau was 7.8% in 2020, according to Government Finance Statistics Yearbook and data files, International Monetary Fund (IMF).
- What is the highest taxes on goods and services recorded in Palau?
- The highest recorded value was 12.5% in 2015.
- What is the lowest taxes on goods and services recorded in Palau?
- The lowest recorded value was 7.8% in 2020.
- How does Palau rank for taxes on goods and services?
- Palau ranks 103rd out of 154 countries with data for 2020.
- Is taxes on goods and services rising or falling in Palau?
- Over the last ten years it is down 16.4%. The long-run trend across the full record is rising.
- Where does this Palau 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 (% value added of industry and services). Statizoid updates them automatically from the source API.
Download this data
CSV · JSON — 13 observations, free to reuse under CC BY 4.0 (World Bank Open Data).
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 value added in industry and services which is the contribution to the economy by industries in ISIC (Rev. 3) divisions 05-43 and 50-99.