{"id":2761,"date":"2025-09-12T15:18:35","date_gmt":"2025-09-12T15:18:35","guid":{"rendered":"https:\/\/usafe-ca.com\/?p=2761"},"modified":"2025-09-12T15:19:16","modified_gmt":"2025-09-12T15:19:16","slug":"iras-revenue-collection-supporting-singapores-growth-with-responsible-taxation","status":"publish","type":"post","link":"https:\/\/usafe-ca.com\/zh\/2025\/09\/12\/iras-revenue-collection-supporting-singapores-growth-with-responsible-taxation\/","title":{"rendered":"IRAS Revenue Collection: Supporting Singapore\u2019s Growth with Responsible Taxation"},"content":{"rendered":"<h3 data-start=\"198\" data-end=\"280\">IRAS Revenue Collection: Supporting Singapore\u2019s Growth with Responsible Taxation<\/h3>\n<h5 data-start=\"303\" data-end=\"318\">Introduction<\/h5>\n<p data-start=\"320\" data-end=\"631\">The Inland Revenue Authority of Singapore (IRAS) plays a central role in sustaining Singapore\u2019s economic and social development. In the latest fiscal year, IRAS collected large\u2010scale tax revenue that enabled funding for public services, infrastructure, and social programs.<\/p>\n<hr data-start=\"633\" data-end=\"636\" \/>\n<h5 data-start=\"638\" data-end=\"671\">Key Figures: What We Collected<\/h5>\n<ul data-start=\"673\" data-end=\"1164\">\n<li data-start=\"673\" data-end=\"827\">\n<p data-start=\"675\" data-end=\"827\"><strong data-start=\"675\" data-end=\"696\">Total tax revenue<\/strong> in FY 2024\/25 rose to <strong data-start=\"719\" data-end=\"737\">S$88.9 billion<\/strong>, an increase of <strong data-start=\"754\" data-end=\"763\">10.7%<\/strong> compared to FY 2023\/24.<\/p>\n<\/li>\n<li data-start=\"828\" data-end=\"1028\">\n<p data-start=\"830\" data-end=\"1028\">That total accounts for about <strong data-start=\"860\" data-end=\"869\">76.9%<\/strong> of the Singapore Government\u2019s Operating Revenue, and represents <strong data-start=\"934\" data-end=\"943\">12.2%<\/strong> of Singapore\u2019s Gross Domestic Product (GDP).<\/p>\n<\/li>\n<li data-start=\"1029\" data-end=\"1164\">\n<p data-start=\"1031\" data-end=\"1164\">IRAS also processed <strong data-start=\"1051\" data-end=\"1089\">S$1.3 billion in enterprise grants<\/strong> to support businesses and workers.<\/p>\n<\/li>\n<\/ul>\n<hr data-start=\"1166\" data-end=\"1169\" \/>\n<h5 data-start=\"1171\" data-end=\"1195\">Breakdown by Tax Type<\/h5>\n<p data-start=\"1197\" data-end=\"1284\">Here is how different tax categories contributed:<\/p>\n<div class=\"_tableContainer_1rjym_1\">\n<div class=\"group w-fit _tableWrapper_1rjym_13 flex flex-col-reverse\" tabindex=\"-1\">\n<table class=\"w-fit min-w-(--thread-content-width)\" data-start=\"1286\" data-end=\"1609\">\n<thead data-start=\"1286\" data-end=\"1346\">\n<tr data-start=\"1286\" data-end=\"1346\">\n<th data-start=\"1286\" data-end=\"1297\" data-col-size=\"sm\">Tax Type<\/th>\n<th data-start=\"1297\" data-end=\"1316\" data-col-size=\"sm\">Amount Collected<\/th>\n<th data-start=\"1316\" data-end=\"1346\" data-col-size=\"sm\">Share of Total Collections<\/th>\n<\/tr>\n<\/thead>\n<tbody data-start=\"1361\" data-end=\"1609\">\n<tr data-start=\"1361\" data-end=\"1416\">\n<td data-start=\"1361\" data-end=\"1390\" data-col-size=\"sm\">Corporate Income Tax (CIT)<\/td>\n<td data-start=\"1390\" data-end=\"1407\" data-col-size=\"sm\">S$30.9 billion<\/td>\n<td data-col-size=\"sm\" data-start=\"1407\" data-end=\"1416\">34.8%<\/td>\n<\/tr>\n<tr data-start=\"1417\" data-end=\"1472\">\n<td data-start=\"1417\" data-end=\"1446\" data-col-size=\"sm\">Goods &amp; Services Tax (GST)<\/td>\n<td data-start=\"1446\" data-end=\"1463\" data-col-size=\"sm\">S$20.0 billion<\/td>\n<td data-start=\"1463\" data-end=\"1472\" data-col-size=\"sm\">22.6%<\/td>\n<\/tr>\n<tr data-start=\"1473\" data-end=\"1529\">\n<td data-start=\"1473\" data-end=\"1503\" data-col-size=\"sm\">Individual Income Tax (IIT)<\/td>\n<td data-col-size=\"sm\" data-start=\"1503\" data-end=\"1520\">S$19.1 billion<\/td>\n<td data-col-size=\"sm\" data-start=\"1520\" data-end=\"1529\">21.5%<\/td>\n<\/tr>\n<tr data-start=\"1530\" data-end=\"1570\">\n<td data-start=\"1530\" data-end=\"1545\" data-col-size=\"sm\">Property Tax<\/td>\n<td data-start=\"1545\" data-end=\"1561\" data-col-size=\"sm\">S$6.6 billion<\/td>\n<td data-start=\"1561\" data-end=\"1570\" data-col-size=\"sm\">~7.5%<\/td>\n<\/tr>\n<tr data-start=\"1571\" data-end=\"1609\">\n<td data-start=\"1571\" data-end=\"1584\" data-col-size=\"sm\">Stamp Duty<\/td>\n<td data-start=\"1584\" data-end=\"1600\" data-col-size=\"sm\">S$6.6 billion<\/td>\n<td data-col-size=\"sm\" data-start=\"1600\" data-end=\"1609\">~7.4%<\/td>\n<\/tr>\n<\/tbody>\n<\/table>\n<\/div>\n<\/div>\n<p data-start=\"1611\" data-end=\"1744\">These rises stem from stronger economic activity, wage growth, and increased consumer spending.<\/p>\n<hr data-start=\"1746\" data-end=\"1749\" \/>\n<h5 data-start=\"1751\" data-end=\"1774\">Compliance &amp; Arrears<\/h5>\n<ul data-start=\"1776\" data-end=\"2038\">\n<li data-start=\"1776\" data-end=\"1912\">\n<p data-start=\"1778\" data-end=\"1912\">IRAS maintained a very <strong data-start=\"1801\" data-end=\"1821\">low arrears rate<\/strong> of <strong data-start=\"1825\" data-end=\"1834\">0.66%<\/strong> for Income Tax, GST and Property Tax.<\/p>\n<\/li>\n<li data-start=\"1913\" data-end=\"2038\">\n<p data-start=\"1915\" data-end=\"2038\">That reflects high compliance levels among taxpayers and strong tax administration.<\/p>\n<\/li>\n<\/ul>\n<hr data-start=\"2040\" data-end=\"2043\" \/>\n<h5 data-start=\"2045\" data-end=\"2071\">Impact &amp; Why It Matters<\/h5>\n<ul data-start=\"2073\" data-end=\"2502\">\n<li data-start=\"2073\" data-end=\"2201\">\n<p data-start=\"2075\" data-end=\"2201\">The revenue collected enables continued investment into key areas like healthcare, public transport, education, and housing.<\/p>\n<\/li>\n<li data-start=\"2202\" data-end=\"2365\">\n<p data-start=\"2204\" data-end=\"2365\">Grants and payouts of <strong data-start=\"2226\" data-end=\"2243\">S$1.3 billion<\/strong> show that IRAS doesn\u2019t just collect\u2014it also helps support businesses and workers.<\/p>\n<\/li>\n<li data-start=\"2366\" data-end=\"2502\">\n<p data-start=\"2368\" data-end=\"2502\">With digital improvements in filing, payments, and service delivery, IRAS is driving toward more efficiency and higher transparency.<\/p>\n<\/li>\n<\/ul>\n<hr data-start=\"2504\" data-end=\"2507\" \/>\n<h5 data-start=\"2509\" data-end=\"2525\">Looking Ahead<\/h5>\n<p data-start=\"2527\" data-end=\"2697\">IRAS will keep refining its policies, systems, and engagement approaches to ensure that tax collection balances fairness, efficiency, and support for economic resilience.<\/p>\n<p>Disclaimer: This article is for informational purposes only and does not constitute any professional advice. Feel free to contact us to consult with our\u00a0<a href=\"https:\/\/usafe-ca.com\/zh\/contact\/\">professional advisors team<\/a>\u00a0for personalized advice and guidance.<\/p>\n<p>Sources: <a href=\"https:\/\/www.iras.gov.sg\/who-we-are\/what-we-do\/annual-reports-and-publications\/annual-reports\/corporate-information-and-highlights\/our-revenue-collection\">https:\/\/www.iras.gov.sg\/who-we-are\/what-we-do\/annual-reports-and-publications\/annual-reports\/corporate-information-and-highlights\/our-revenue-collection<\/a><\/p>","protected":false},"excerpt":{"rendered":"<p>IRAS Revenue Collection: Supporting Singapore\u2019s Growth with Responsible Taxation Introduction The Inland Revenue Authority of Singapore (IRAS) plays a central role in sustaining Singapore\u2019s economic and social development. In the latest fiscal year, IRAS collected large\u2010scale tax revenue that enabled funding for public services, infrastructure, and social programs. Key Figures: What We Collected Total tax [&hellip;]<\/p>\n","protected":false},"author":3,"featured_media":2772,"comment_status":"closed","ping_status":"closed","sticky":false,"template":"","format":"standard","meta":{"footnotes":""},"categories":[2,9],"tags":[],"class_list":["post-2761","post","type-post","status-publish","format-standard","has-post-thumbnail","hentry","category-news","category-singapore"],"blocksy_meta":[],"yoast_head":"<!-- This site is optimized with the Yoast SEO Premium plugin v27.2 (Yoast SEO v27.4) - https:\/\/yoast.com\/product\/yoast-seo-premium-wordpress\/ -->\n<title>IRAS Revenue Collection FY24\/25: Tax Contributions Explained - uSafe Certified Public Accountants<\/title>\n<meta name=\"description\" content=\"Discover the key statistics from the IRAS Revenue Collection FY24\/25, showcasing major contributions to public services and infrastructure.\" \/>\n<meta name=\"robots\" content=\"index, follow, max-snippet:-1, max-image-preview:large, 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