Singapore: Tax revenue up over FY2019, income tax, GST collections expected to drop next year

The Inland Revenue Authority of Singapore (Iras) collected $53.5 billion in taxes in the fiscal year 2019/20, 2.1 per cent more than a year earlier, according to its annual report released on Friday (Oct 16). Iras' collection accounted for 72 per cent of government operating revenue. - The Straits Times/Asian News Network

SINGAPORE, Oct 16 (The Straits Times/ANN): Taxpayers, both corporate and individual, contributed more to the Government's coffers in the past financial year, but analysts caution that the pace could slowdown on the back of the Covid-19 pandemic.

The Inland Revenue Authority of Singapore (Iras) collected S$53.5 billion in taxes in the fiscal year 2019/20, 2.1 per cent more than a year earlier, according to its annual report released on Friday (Oct 16).