Total tax rate as a percentage of commercial profits reached 0.646 % in 2018 in Venezuela, according to the National Statistical Office. This is the same as in the previous year.
Historically, total tax rate as a percentage of commercial profits in Venezuela reached an all time high of 0.650 % in 2013 and an all time low of 0.498 % in 2006. When compared to Venezuela's main peers, total tax rate as a percentage of commercial profits in Brazil amounted to 0.651 %, 0.719 % in Colombia, 0.306 % in Guyana and 0.397 % in Trinidad and Tobago in 2018.
Venezuela has been ranked 14th within the group of 172 countries we follow in terms of total tax rate as a percentage of commercial profits, 30 places above the position seen 10 years ago.
The total tax rate measures the amount of taxes and mandatory contributions payable by businesses after accounting for allowable deductions and exemptions as a share of commercial profits.