United States - Taxes on goods and services (% value added of industry and services)

Taxes on goods and services (% value added of industry and services) in United States was 0.469 as of 2019. Its highest value over the past 22 years was 0.751 in 1999, while its lowest value was 0.461 in 2008.

Definition: Taxes on goods and services include general sales and turnover or value added taxes, selective excises on goods, selective taxes on services, taxes on the use of goods or property, taxes on extraction and production of minerals, and profits of fiscal monopolies.

Source: International Monetary Fund, Government Finance Statistics Yearbook and data files, and World Bank and OECD value added estimates.

See also:

Year Value
1997 0.688
1998 0.655
1999 0.751
2000 0.687
2001 0.640
2002 0.640
2003 0.629
2004 0.620
2005 0.597
2006 0.551
2007 0.478
2008 0.461
2009 0.494
2010 0.476
2011 0.518
2012 0.529
2013 0.564
2014 0.593
2015 0.588
2016 0.553
2017 0.495
2018 0.557
2019 0.469

Limitations and Exceptions: For most countries central government finance data have been consolidated into one account, but for others only budgetary central government accounts are available. Countries reporting budgetary data are noted in the country metadata. Because budgetary accounts may not include all central government units (such as social security funds), they usually provide an incomplete picture. In federal states the central government accounts provide an incomplete view of total public finance. Data on government revenue and expense are collected by the IMF through questionnaires to member countries and by the Organisation for Economic Co-operation and Development (OECD). Despite IMF efforts to standardize data collection, statistics are often incomplete, untimely, and not comparable across countries.

Statistical Concept and Methodology: The IMF's Government Finance Statistics Manual 2014, harmonized with the 2008 SNA, recommends an accrual accounting method, focusing on all economic events affecting assets, liabilities, revenues, and expenses, not just those represented by cash transactions. It accounts for all changes in stocks, so stock data at the end of an accounting period equal stock data at the beginning of the period plus flows over the period. The 1986 manual considered only debt stocks. Government finance statistics are reported in local currency. Many countries report government finance data by fiscal year; see country metadata for information on fiscal year end by country.

Periodicity: Annual

Classification

Topic: Public Sector Indicators

Sub-Topic: Government finance