Colombia—Taxes on Goods & Services (% of revenue)
Colombia's taxes on goods & services (% of revenue) was 24.3% in 2024, ranking #100 out of 139 countries. This represents a +3.0% change from 2023. Over the past 18 years, the highest recorded value was 28.7% (2008) and the lowest was 22.0% (2013). Data sourced from the World Bank World Development Indicators.
Historical Data
| Year | Value | Change |
|---|---|---|
| 2024 | 24.3% | +3.0% |
| 2023 | 23.6% | -13.7% |
| 2022 | 27.4% | +6.7% |
| 2021 | 25.7% | +9.5% |
| 2020 | 23.4% | -5.8% |
| 2019 | 24.9% | +3.6% |
| 2018 | 24.0% | -1.8% |
| 2017 | 24.4% | +0.7% |
| 2016 | 24.3% | -6.5% |
| 2015 | 26.0% | +4.3% |
| 2014 | 24.9% | +13.3% |
| 2013 | 22.0% | -10.1% |
| 2012 | 24.4% | -6.6% |
| 2011 | 26.1% | -4.2% |
| 2010 | 27.3% | +1.3% |
| 2009 | 26.9% | -6.3% |
| 2008 | 28.7% | +19.7% |
| 2003 | 24.0% |
Top Countries — Taxes on Goods & Services (% of revenue)
| # | Country | Value | Year |
|---|---|---|---|
| 1 | Macao SAR, China | 71.7% | 2023 |
| 2 | Bahamas, The | 57.1% | 2023 |
| 3 | Lao PDR | 53.9% | 2022 |
| 4 | Mauritius | 53.3% | 2024 |
| 5 | Guatemala | 51.5% | 2023 |
| 6 | Armenia | 48.2% | 2024 |
| 7 | Dominican Republic | 47.9% | 2024 |
| 8 | Croatia | 47.1% | 2023 |
| 9 | Nicaragua | 46.5% | 2023 |
| 10 | Burundi | 46.4% | 2021 |
About This Indicator
Definition
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.
Methodology
Data compiled by Government Finance Statistics Yearbook and data files, International Monetary Fund (IMF).