Taxes on income, profits and capital gains in Micronesia (country)
Micronesia (country): Taxes on income, profits and capital gains was 57.5% in 2020. ▲ Rising
Taxes on income, profits and capital gains in Micronesia (country), 2008–2020
Source: Government Finance Statistics Yearbook and data files, International Monetary Fund (IMF). Measured in % of total taxes.
Analysis
Micronesia (country) recorded 57.5% for taxes on income, profits and capital gains in 2020.
The figure is down 32.3% on the previous year and up 84.7% over ten years.
Over the whole period, taxes on income, profits and capital gains in Micronesia (country) peaked at 87.9% in 2018 and was at its lowest, 28.5%, in 2009.
That places Micronesia (country) 19th out of 153 countries with data for 2020, putting it in the top quarter.
The long-run direction has been consistently rising across the 13 years of available data.
Taxes on income, profits and capital gains in Micronesia (country), year by year
| Year | % of total taxes | Change |
|---|---|---|
| 2008 | 32.4% | — |
| 2009 | 28.5% | -12.1% |
| 2010 | 31.1% | +9.2% |
| 2011 | 38.0% | +22.1% |
| 2012 | 40.4% | +6.3% |
| 2013 | 47.6% | +17.9% |
| 2014 | 79.2% | +66.2% |
| 2015 | 48.6% | -38.6% |
| 2016 | 51.5% | +5.9% |
| 2017 | 71.2% | +38.4% |
| 2018 | 87.9% | +23.4% |
| 2019 | 84.9% | -3.4% |
| 2020 | 57.5% | -32.3% |
Micronesia (country) compared with similar countries
- Micronesia (country)'s 57.5% is above the median for upper middle income countries, which is 37.1%, 1.5× the median. (48 countries reporting)
- Micronesia (country)'s 57.5% is above the median for East Asia & Pacific, which is 39.9%, 1.4× the median. (25 countries reporting)
Averages by decade
| Decade | Average | Lowest | Highest | Years |
|---|---|---|---|---|
| 2000s | 30.4% | 28.5% | 32.4% | 2 |
| 2010s | 58.0% | 31.1% | 87.9% | 10 |
| 2020s | 57.5% | 57.5% | 57.5% | 1 |
Countries ranked near Micronesia (country)
More public sector data for Micronesia (country)
- Arms imports 7.00 million SIPRI trend indicator values (2023)
- Arms imports (SIPRI trend indicator values), per capita 62.15 SIPRI trend indicator values per person (2023)
- Arms imports (SIPRI trend indicator values), per unit of GDP 0.0158 SIPRI trend indicator values per US$ of GDP (2023)
- Arms imports (SIPRI trend indicator values), gaps filled 7.00 million SIPRI trend indicator values (2023)
- Tax revenue 7.0% (2020)
- Taxes on income, profits and capital gains 10.9% (2020)
- Taxes on goods and services 3.4% (2020)
- Net investment in nonfinancial assets 10.5% (2020)
- Net lending (+) / net borrowing (-) 6.9% (2020)
- Interest payments 0.4% (2020)
Frequently asked questions
- What is taxes on income, profits and capital gains in Micronesia (country)?
- Taxes on income, profits and capital gains in Micronesia (country) was 57.5% in 2020, 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 Micronesia (country)?
- The highest recorded value was 87.9% in 2018.
- What is the lowest taxes on income, profits and capital gains recorded in Micronesia (country)?
- The lowest recorded value was 28.5% in 2009.
- How does Micronesia (country) rank for taxes on income, profits and capital gains?
- Micronesia (country) ranks 19th out of 153 countries with data for 2020.
- Is taxes on income, profits and capital gains rising or falling in Micronesia (country)?
- Over the last ten years it is up 84.7%. The long-run trend across the full record is rising.
- Where does this Micronesia (country) 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 total taxes). 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 total taxes which includes all compulsory, unrequited payments, in cash or in kind, made by institutional units to government units.