Taxes on goods and services in Cyprus
Cyprus: Taxes on goods and services was 4.14 billion current LCU in 2024. ◆ Volatile
Taxes on goods and services in Cyprus, 1972–2024
Source: Government Finance Statistics Yearbook and data files, International Monetary Fund (IMF). Measured in current LCU.
Analysis
Cyprus recorded 4.14 billion current LCU for taxes on goods and services in 2024. That is the highest value across all 53 years on record.
The figure is up 5.1% on the previous year and up 74.9% over ten years.
Over the whole period, taxes on goods and services in Cyprus peaked at 4.14 billion current LCU in 2024 and was at its lowest, 21.36 million current LCU, in 1972.
Cyprus ranks 130th of 157 countries on this measure, in the bottom quarter.
The series is highly variable year to year, so single readings are best treated with caution.
Averages by decade
| Decade | Average | Lowest | Highest | Years |
|---|---|---|---|---|
| 1970s | 32.74 million current LCU | 21.36 million current LCU | 64.14 million current LCU | 8 |
| 1980s | 124.32 million current LCU | 67.66 million current LCU | 205.37 million current LCU | 10 |
| 1990s | 528.11 million current LCU | 221.59 million current LCU | 807.40 million current LCU | 10 |
| 2000s | 1.83 billion current LCU | 1.02 billion current LCU | 2.66 billion current LCU | 10 |
| 2010s | 2.52 billion current LCU | 2.21 billion current LCU | 2.98 billion current LCU | 10 |
| 2020s | 3.46 billion current LCU | 2.59 billion current LCU | 4.14 billion current LCU | 5 |
Countries ranked near Cyprus
More public sector data for Cyprus
- Arms imports 115.00 million SIPRI trend indicator values (2024)
- Tax revenue 23.9% (2024)
- Taxes on income, profits and capital gains 26.1% (2024)
- Taxes on goods and services 29.1% (2024)
- Net investment in nonfinancial assets 2.4% (2024)
- Net lending (+) / net borrowing (-) 4.2% (2024)
- Interest payments 2.8% (2024)
- Grants and other revenue 9.8% (2024)
- Interest payments 3.1% (2023)
- Other taxes 3.3% (2024)
Frequently asked questions
- What is taxes on goods and services in Cyprus?
- Taxes on goods and services in Cyprus was 4.14 billion current LCU in 2024, according to Government Finance Statistics Yearbook and data files, International Monetary Fund (IMF).
- What is the highest taxes on goods and services recorded in Cyprus?
- The highest recorded value was 4.14 billion current LCU in 2024.
- What is the lowest taxes on goods and services recorded in Cyprus?
- The lowest recorded value was 21.36 million current LCU in 1972.
- How does Cyprus rank for taxes on goods and services?
- Cyprus ranks 130th out of 157 countries with data for 2024.
- Is taxes on goods and services rising or falling in Cyprus?
- Over the last ten years it is up 74.9%. The long-run trend across the full record is volatile.
- Where does this Cyprus data come from?
- The figures come from Government Finance Statistics Yearbook and data files, International Monetary Fund (IMF), published as part of Taxes on goods and services (current LCU). Statizoid updates them automatically from the source API.
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About this data
General taxes on goods and services are taxes levied on the production, leasing, delivery, sale, purchase or other change of ownership of a wide range of goods and the provision of a wide range of services. This indicator is expressed in current prices, meaning no adjustment has been made to account for price changes over time. This series is expressed in local currency units.