Iceland | Taxes on goods and services (current LCU)

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. 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.
Publisher
The World Bank
Origin
Republic of Iceland
Records
63
Source
Iceland | Taxes on goods and services (current LCU)
1960
1961
1962
1963
1964
1965
1966
1967
1968
1969
1970
1971
1972 69200000
1973 95400000
1974 173800000
1975 280900000
1976 382800000
1977 528600000
1978 795900000
1979 1180800000
1980 1986700000
1981 3265500000
1982 5259900000
1983 8396400000
1984 11599100000
1985 16039500000
1986 21163300000
1987 28743800000
1988 38547900000
1989 45897700000
1990 50409700000
1991 53545600000
1992 55083100000
1993 58980200000
1994 65424400000
1995 67508000000
1996 74255800000
1997 78787500000
1998 95357400000
1999 107810600000
2000 110561000000
2001 107397262000
2002 115451773580
2003 125534126091
2004 147628670464
2005 173826680831
2006 193447754217
2007 205506232508
2008 192842624113.39
2009 175552237342
2010 185358312942.34
2011 197005002049
2012 213576295760
2013 222835698133
2014 235893672257.8
2015 259334214746.57
2016 287405296898.73
2017 322961437613
2018 337326062839.97
2019 337640971442
2020 327192896824
2021 369511536077
2022 430147296189

Iceland | Taxes on goods and services (current LCU)

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. 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.
Publisher
The World Bank
Origin
Republic of Iceland
Records
63
Source