Kuwait - Taxes on income, profits and capital gains (% of total taxes)

Taxes on income, profits and capital gains (% of total taxes) in Kuwait was 24.58 as of 1998. Its highest value over the past 26 years was 79.63 in 1978, while its lowest value was 15.38 in 1996.

Definition: Taxes on income, profits, and capital gains are levied on the actual or presumptive net income of individuals, on the profits of corporations and enterprises, and on capital gains, whether realized or not, on land, securities, and other assets. Intragovernmental payments are eliminated in consolidation.

Source: International Monetary Fund, Government Finance Statistics Yearbook and data files.

See also:

Year Value
1972 76.28
1973 75.71
1974 74.48
1977 58.29
1978 79.63
1979 53.69
1980 63.64
1981 59.00
1982 42.52
1983 46.70
1984 43.78
1985 28.00
1986 26.61
1987 21.52
1988 19.72
1989 19.05
1990 19.51
1991 25.00
1992 60.00
1993 18.99
1994 32.38
1995 24.73
1996 15.38
1997 18.52
1998 24.58

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