The 2023 global recurrent household motor vehicle tax revenue indicates Brazil leading with $12.54 billion, marking a 1.23% year-on-year increase, indicative of robust economic engagement. South Africa and Nigeria also showed positive growth trends, with 2.57% and 4.86% respectively, suggesting a growing vehicular market. Conversely, Argentina saw a notable decline of 1.57%. The United States reflected steady growth at 1.89%, while Australia and Canada lagged behind with marginal increases. Over the past five years, the United States and Brazil have consistently maintained positive CAGRs, showcasing their large, structured tax regimes.
Future trends may emphasize digital transformations in tax collection mechanisms to improve efficiency and compliance, particularly in emerging markets. Additionally, as sustainability initiatives strengthen, exploring alternative taxation policies focusing on vehicle emissions and green technologies could emerge as critical areas of focus globally.
Top countries in Recurrent Household Motor Vehicles Tax Revenue Perceived at a State or Regional Level by Country
| # | 10 Countries | Million US Dollars | Last Year | YoY | 5-years CAGR | |
|---|---|---|---|---|---|---|
| 1 | 1 Brazil | 12,540 | 2023 | +1.29% | +1.23% | View data |
| 2 | 2 Argentina | 1,370 | 2023 | +0.32% | -1.57% | View data |
| 3 | 3 South Africa | 746.7 | 2023 | +2.34% | +2.57% | View data |
| 4 | 4 Nigeria | 99.22 | 2023 | +2.56% | +4.86% | View data |
| 5 | 5 United States | 22.01 | 2023 | +1.91% | +1.89% | View data |
| 6 | 6 Australia | 6.1 | 2023 | +1.57% | +1.36% | View data |
| 7 | 7 Canada | 2.4 | 2023 | +1.45% | +1.26% | View data |
| 8 | 8 Belgium | 1.51 | 2023 | +1.3% | +0.67% | View data |
| 9 | 9 Mexico | 0.94 | 2023 | +1.24% | +1.81% | View data |
| 10 | 10 Colombia | 0.33 | 2023 | +2.97% | +4.43% | View data |
