Taxes on income, profits and capital gains in Latin America & Caribbean (excluding high income)
Latin America & Caribbean (excluding high income): Taxes on income, profits and capital gains was 29.3% in 2024. ▲ Rising
Taxes on income, profits and capital gains in Latin America & Caribbean (excluding high income), 1998–2024
Source: Government Finance Statistics Yearbook and data files, International Monetary Fund (IMF). Measured in % of revenue.
Analysis
The most recent figure for taxes on income, profits and capital gains in Latin America & Caribbean (excluding high income) is 29.3%, measured in 2024.
The figure is down 3.1% on the previous year and up 6.7% over ten years.
Over the whole period, taxes on income, profits and capital gains in Latin America & Caribbean (excluding high income) peaked at 30.3% in 2023 and was at its lowest, 18.4%, in 2000.
Latin America & Caribbean (excluding high income) ranks 6th of 41 groups on this measure, in the top quarter.
The long-run direction has been consistently rising across the 25 years of available data.
Taxes on income, profits and capital gains in Latin America & Caribbean (excluding high income), year by year
| Year | % of revenue | Change |
|---|---|---|
| 1998 | 18.9% | — |
| 1999 | 20.2% | +6.7% |
| 2000 | 18.4% | -9.1% |
| 2003 | 21.1% | +15.0% |
| 2004 | 21.1% | -0.4% |
| 2005 | 21.1% | +0.3% |
| 2006 | 21.2% | +0.5% |
| 2007 | 22.9% | +8.2% |
| 2008 | 23.7% | +3.3% |
| 2009 | 26.7% | +12.7% |
| 2010 | 25.5% | -4.3% |
| 2011 | 25.9% | +1.5% |
| 2012 | 25.8% | -0.4% |
| 2013 | 26.6% | +2.9% |
| 2014 | 27.5% | +3.4% |
| 2015 | 25.6% | -6.8% |
| 2016 | 27.9% | +9.1% |
| 2017 | 27.6% | -1.1% |
| 2018 | 27.4% | -0.9% |
| 2019 | 28.3% | +3.2% |
| 2020 | 29.1% | +3.0% |
| 2021 | 29.5% | +1.2% |
| 2022 | 28.3% | -3.9% |
| 2023 | 30.3% | +6.9% |
| 2024 | 29.3% | -3.1% |
Averages by decade
| Decade | Average | Lowest | Highest | Years |
|---|---|---|---|---|
| 1990s | 19.6% | 18.9% | 20.2% | 2 |
| 2000s | 22.0% | 18.4% | 26.7% | 8 |
| 2010s | 26.8% | 25.5% | 28.3% | 10 |
| 2020s | 29.3% | 28.3% | 30.3% | 5 |
Countries ranked near Latin America & Caribbean (excluding high income)
- 3 New Zealand 56.7% compare
- 4 United States 56.3% compare
- 5 Canada 53.9% compare
- 6 Denmark 51.4% compare
- 7 South Africa 50.8% compare
- 8 Malaysia 47.6% compare
- 9 Ireland 45.2% compare
More public sector data for Latin America & Caribbean (excluding high income)
- Arms imports 611.00 million SIPRI trend indicator values (2024)
- Arms imports (SIPRI trend indicator values), per capita 0.9814 SIPRI trend indicator values per person (2024)
- Arms imports (SIPRI trend indicator values), per unit of GDP 0.0001 SIPRI trend indicator values per US$ of GDP (2024)
- Arms imports (SIPRI trend indicator values), annual growth rate 64.69 % change on previous year (2024)
- Arms imports (SIPRI trend indicator values), gaps filled 611.00 million SIPRI trend indicator values (2024)
- Military expenditure (current USD), per capita 106.17 current USD per person (2024)
- Military expenditure (current USD), per unit of GDP 0.0105 current USD per US$ of GDP (2024)
- Military expenditure (current USD), annual growth rate 12.04 % change on previous year (2024)
- Military expenditure (current USD), gaps filled 66.10 billion current USD (2024)
- Arms imports (SIPRI trend indicator values), per square kilometre 19.76 SIPRI trend indicator values per square kilometre (2023)
All data for Latin America & Caribbean (excluding high income) →
Frequently asked questions
- What is taxes on income, profits and capital gains in Latin America & Caribbean (excluding high income)?
- Taxes on income, profits and capital gains in Latin America & Caribbean (excluding high income) was 29.3% in 2024, according to Government Finance Statistics Yearbook and data files, International Monetary Fund (IMF).
- What is the highest taxes on income, profits and capital gains recorded in Latin America & Caribbean (excluding high income)?
- The highest recorded value was 30.3% in 2023.
- What is the lowest taxes on income, profits and capital gains recorded in Latin America & Caribbean (excluding high income)?
- The lowest recorded value was 18.4% in 2000.
- How does Latin America & Caribbean (excluding high income) rank for taxes on income, profits and capital gains?
- Latin America & Caribbean (excluding high income) ranks 6th out of 41 groups with data for 2024.
- Is taxes on income, profits and capital gains rising or falling in Latin America & Caribbean (excluding high income)?
- Over the last ten years it is up 6.7%. The long-run trend across the full record is rising.
- Where does this Latin America & Caribbean (excluding high income) data come from?
- The figures come from Government Finance Statistics Yearbook and data files, International Monetary Fund (IMF), published as part of Taxes on income, profits and capital gains (% of revenue). Statizoid updates them automatically from the source API.
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About this data
Taxes on income, profits, and capital gains are taxes payable on the actual or presumed incomes, profits and capital gains. 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.