The Sales Tax Rate in Micronesia stands at 5 percent.

Sales Tax Rate in Micronesia is expected to reach 5.00 percent by the end of 2020, according to Trading Economics global macro models and analysts expectations. In the long-term, the Micronesia Sales Tax Rate - VAT is projected to trend around 5.00 percent in 2021, according to our econometric models.

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Micronesia Sales Tax Rate - VAT

Actual Previous Highest Lowest Dates Unit Frequency
5.00 5.00 5.00 5.00 2014 - 2020 percent Yearly

Micronesia Taxes Last Previous Highest Lowest Unit
Sales Tax Rate 5.00 5.00 5.00 5.00 percent [+]
Corporate Tax Rate 3.00 3.00 3.00 3.00 percent [+]
Social Security Rate 15.00 15.00 15.00 15.00 percent [+]
Social Security Rate For Companies 7.50 7.50 7.50 7.50 percent [+]
Social Security Rate For Employees 7.50 7.50 7.50 7.50 percent [+]


Micronesia Sales Tax Rate - VAT
In Micronesia, the sales tax rate is a tax charged to consumers based on the purchase price of certain goods and services. The benchmark we use for the sales tax rate refers to the highest rate. Revenues from the Sales Tax Rate are an important source of income for the government of Micronesia.