United Kingdom - Taxes on goods and services (% of revenue)

Taxes on goods and services (% of revenue) in United Kingdom was 33.23 as of 2019. Its highest value over the past 47 years was 34.47 in 1999, while its lowest value was 24.54 in 1975.

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.

See also:

Year Value
1972 28.14
1973 27.33
1974 25.66
1975 24.54
1976 24.85
1977 25.21
1978 25.64
1979 26.21
1980 28.47
1981 27.86
1982 28.58
1983 29.53
1984 30.51
1985 31.03
1986 32.05
1987 30.44
1988 31.19
1989 30.39
1990 28.35
1991 29.28
1992 31.15
1993 32.22
1994 33.01
1995 33.81
1996 34.32
1997 34.39
1998 33.76
1999 34.47
2000 33.49
2001 32.97
2002 34.06
2003 34.12
2004 33.07
2005 30.93
2006 31.27
2007 31.17
2008 29.14
2009 29.71
2010 31.88
2011 33.57
2012 33.27
2013 33.43
2014 34.38
2015 34.18
2016 33.89
2017 33.37
2018 33.41
2019 33.23

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.

Aggregation method: Median

Periodicity: Annual

Classification

Topic: Public Sector Indicators

Sub-Topic: Government finance