Cyprus—Taxes on Goods & Services (% of revenue)
Cyprus's taxes on goods & services (% of revenue) was 29.1% in 2024, ranking #81 out of 139 countries. This represents a -2.0% change from 2023. Over the past 25 years, the highest recorded value was 36.3% (2004) and the lowest was 29.1% (2024). Data sourced from the World Bank World Development Indicators.
Historical Data
| Year | Value | Change |
|---|---|---|
| 2024 | 29.1% | -2.0% |
| 2023 | 29.7% | -4.5% |
| 2022 | 31.1% | +3.4% |
| 2021 | 30.0% | +0.4% |
| 2020 | 29.9% | -6.9% |
| 2019 | 32.1% | -5.2% |
| 2018 | 33.9% | +1.0% |
| 2017 | 33.5% | -2.4% |
| 2016 | 34.4% | +5.3% |
| 2015 | 32.6% | +0.2% |
| 2014 | 32.6% | +3.4% |
| 2013 | 31.5% | -3.9% |
| 2012 | 32.8% | +3.2% |
| 2011 | 31.8% | -2.5% |
| 2010 | 32.6% | -1.1% |
| 2009 | 33.0% | -5.9% |
| 2008 | 35.1% | +4.1% |
| 2007 | 33.7% | -4.0% |
| 2006 | 35.1% | -0.6% |
| 2005 | 35.3% | -2.8% |
| 2004 | 36.3% | +7.7% |
| 2003 | 33.8% | +10.4% |
| 2002 | 30.6% | +2.3% |
| 2001 | 29.9% | +1.8% |
| 2000 | 29.4% |
Top Countries — Taxes on Goods & Services (% of revenue)
| # | Country | Value | Year |
|---|---|---|---|
| 1 | Macao SAR, China | 76.2% | 2024 |
| 2 | Bahamas, The | 58.7% | 2024 |
| 3 | Lao PDR | 53.9% | 2022 |
| 4 | Mauritius | 53.3% | 2024 |
| 5 | Guatemala | 51.9% | 2024 |
| 6 | Lebanon | 48.4% | 2024 |
| 7 | Armenia | 48.2% | 2024 |
| 8 | Dominican Republic | 47.9% | 2024 |
| 9 | Nicaragua | 47.5% | 2024 |
| 10 | Croatia | 47.1% | 2023 |
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).
Unit
% of revenue