Faroe Islands - Net taxes on products
Net taxes on products (current US$)
The latest value for Net taxes on products (current US$) in Faroe Islands was $358,787,900 as of 2019. Over the past 21 years, the value for this indicator has fluctuated between $358,787,900 in 2019 and $141,703,100 in 2000.
Definition: Net taxes on products (net indirect taxes) are the sum of product taxes less subsidies. Product taxes are those taxes payable by producers that relate to the production, sale, purchase or use of the goods and services. Subsidies are grants on the current account made by general government to private enterprises and unincorporated public enterprises. The grants may take the form of payments to ensure a guaranteed price or to enable maintenance of prices of goods and services below costs of production, and other forms of assistance to producers. Data are in current U.S. dollars.
Source: World Bank national accounts data, and OECD National Accounts data files.
See also:
| Year | Value |
|---|---|
| 1998 | $148,549,400 |
| 1999 | $151,214,100 |
| 2000 | $141,703,100 |
| 2001 | $145,047,300 |
| 2002 | $167,783,500 |
| 2003 | $209,572,400 |
| 2004 | $230,308,300 |
| 2005 | $239,457,100 |
| 2006 | $281,428,700 |
| 2007 | $344,545,100 |
| 2008 | $348,973,200 |
| 2009 | $296,330,800 |
| 2010 | $296,509,700 |
| 2011 | $307,746,800 |
| 2012 | $295,036,700 |
| 2013 | $299,343,000 |
| 2014 | $329,051,200 |
| 2015 | $280,667,100 |
| 2016 | $302,063,400 |
| 2017 | $323,978,800 |
| 2018 | $356,792,200 |
| 2019 | $358,787,900 |
Net taxes on products (current LCU)
The value for Net taxes on products (current LCU) in Faroe Islands was 2,392,900,000 as of 2019. As the graph below shows, over the past 21 years this indicator reached a maximum value of 2,392,900,000 in 2019 and a minimum value of 995,400,000 in 1998.
Definition: Net taxes on products (net indirect taxes) are the sum of product taxes less subsidies. Product taxes are those taxes payable by producers that relate to the production, sale, purchase or use of the goods and services. Subsidies are grants on the current account made by general government to private enterprises and unincorporated public enterprises. The grants may take the form of payments to ensure a guaranteed price or to enable maintenance of prices of goods and services below costs of production, and other forms of assistance to producers. Data are in current local currency.
Source: World Bank national accounts data, and OECD National Accounts data files.
| Year | Value |
|---|---|
| 1998 | 995,400,000 |
| 1999 | 1,054,900,000 |
| 2000 | 1,145,400,000 |
| 2001 | 1,207,200,000 |
| 2002 | 1,324,600,000 |
| 2003 | 1,380,600,000 |
| 2004 | 1,379,800,000 |
| 2005 | 1,436,000,000 |
| 2006 | 1,673,600,000 |
| 2007 | 1,875,600,000 |
| 2008 | 1,779,100,000 |
| 2009 | 1,588,600,000 |
| 2010 | 1,667,600,000 |
| 2011 | 1,652,200,000 |
| 2012 | 1,709,000,000 |
| 2013 | 1,681,200,000 |
| 2014 | 1,846,800,000 |
| 2015 | 1,888,300,000 |
| 2016 | 2,033,400,000 |
| 2017 | 2,139,200,000 |
| 2018 | 2,253,000,000 |
| 2019 | 2,392,900,000 |
Classification
Topic: Economic Policy & Debt Indicators
Sub-Topic: National accounts
