Taxes on income, profits and capital gains in Latin America & Caribbean
Latin America & Caribbean: Taxes on income, profits and capital gains was 29.1% in 2024. ▲ Rising
Taxes on income, profits and capital gains in Latin America & Caribbean, 1998–2024
Source: Government Finance Statistics Yearbook and data files, International Monetary Fund (IMF). Measured in % of revenue.
Analysis
In 2024, taxes on income, profits and capital gains in Latin America & Caribbean stood at 29.1%.
Compared with earlier readings it is down 1.1% on the previous year and up 4.6% over ten years.
Over the whole period, taxes on income, profits and capital gains in Latin America & Caribbean peaked at 31.0% in 2016 and was at its lowest, 17.9%, in 2000.
Latin America & Caribbean ranks 8th of 41 groups on this measure, in the top quarter.
The long-run direction has been consistently rising across the 27 years of available data.
Taxes on income, profits and capital gains in Latin America & Caribbean, year by year
| Year | % of revenue | Change |
|---|---|---|
| 1998 | 18.6% | — |
| 1999 | 17.9% | -3.4% |
| 2000 | 17.9% | -0.2% |
| 2001 | 19.2% | +7.1% |
| 2002 | 20.1% | +4.6% |
| 2003 | 21.1% | +5.3% |
| 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 | 25.7% | +0.7% |
| 2012 | 25.8% | +0.4% |
| 2013 | 26.6% | +2.9% |
| 2014 | 27.9% | +4.8% |
| 2015 | 25.8% | -7.5% |
| 2016 | 31.0% | +20.3% |
| 2017 | 27.1% | -12.4% |
| 2018 | 27.5% | +1.2% |
| 2019 | 28.2% | +2.6% |
| 2020 | 28.6% | +1.6% |
| 2021 | 28.6% | -0.1% |
| 2022 | 28.3% | -1.0% |
| 2023 | 29.5% | +4.2% |
| 2024 | 29.1% | -1.1% |
Averages by decade
| Decade | Average | Lowest | Highest | Years |
|---|---|---|---|---|
| 1990s | 18.3% | 17.9% | 18.6% | 2 |
| 2000s | 21.5% | 17.9% | 26.7% | 10 |
| 2010s | 27.1% | 25.5% | 31.0% | 10 |
| 2020s | 28.8% | 28.3% | 29.5% | 5 |
Countries ranked near Latin America & Caribbean
More public sector data for Latin America & Caribbean
- Arms imports 644.00 million SIPRI trend indicator values (2024)
- Arms imports (SIPRI trend indicator values), per capita 0.9725 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 67.27 % change on previous year (2024)
- Arms imports (SIPRI trend indicator values), gaps filled 644.00 million SIPRI trend indicator values (2024)
- Military expenditure (current USD), per capita 110.81 current USD per person (2024)
- Military expenditure (current USD), per unit of GDP 0.0104 current USD per US$ of GDP (2024)
- Military expenditure (current USD), annual growth rate 10.62 % change on previous year (2024)
- Military expenditure (current USD), gaps filled 73.38 billion current USD (2024)
- Arms imports (SIPRI trend indicator values), per square kilometre 19.2 SIPRI trend indicator values per square kilometre (2023)
Frequently asked questions
- What is taxes on income, profits and capital gains in Latin America & Caribbean?
- Taxes on income, profits and capital gains in Latin America & Caribbean was 29.1% 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?
- The highest recorded value was 31.0% in 2016.
- What is the lowest taxes on income, profits and capital gains recorded in Latin America & Caribbean?
- The lowest recorded value was 17.9% in 2000.
- How does Latin America & Caribbean rank for taxes on income, profits and capital gains?
- Latin America & Caribbean ranks 8th out of 41 groups with data for 2024.
- Is taxes on income, profits and capital gains rising or falling in Latin America & Caribbean?
- Over the last ten years it is up 4.6%. The long-run trend across the full record is rising.
- Where does this Latin America & Caribbean 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.