Singapore collected S$97.3 billion in tax revenue in the 2025/2026 financial year, marking a 9.4% increase from the previous year [1, 2, 3]. Tax revenue accounted for 74.8% of the government’s operating revenue and 12.3% of the country’s GDP [1, 2, 3].
The rise in tax revenue was mainly driven by stronger economic activity and consumer spending throughout the year [1, 2, 3]. Corporate income tax remained the largest revenue source, increasing to S$34.4 billion from S$30.9 billion, representing 35.4% of total tax revenue [1, 2, 3]. Goods and Services Tax (GST) revenue also rose to S$21.7 billion, up from S$20 billion, accounting for 22.3% of the total [1, 2, 3]. Individual income tax collections increased to S$20.9 billion from S$19.1 billion, or 21.5% of total tax revenue [1, 2, 3].
Property tax contributed S$6.9 billion (7.1%) while stamp duty accounted for S$7.3 billion (7.5%) [1, 2, 3]. The Inland Revenue Authority of Singapore (IRAS) audited and investigated 8,560 cases during the financial year, recovering about S$589 million in taxes and penalties [1].
The arrears rate for GST, income, and property tax remained low at 0.64% of net tax assessed, reflecting strong taxpayer compliance [1, 2, 3]. IRAS also processed nearly S$1.2 billion in disbursements to around 126,000 businesses under various support schemes [1, 2, 3]. IRAS said, "Tax revenue remains a key contributor to Singapore’s nation‑building efforts. It enables us to build strong and inclusive communities, enhance public services and infrastructure, and support sustainable economic growth" [1]. It added, "Beyond tax collection, IRAS processed close to S$1.2 billion in payouts to support businesses and workers, contributing to national resilience and inclusive growth" [2].
According to IRAS, "Taxpayers continue to demonstrate strong compliance across all tax types, reinforcing IRAS’ role in shaping a responsible taxpaying community" [3].
On September 4, 2026, IRAS released the official tax revenue data and statements for FY2025/26 [1, 2, 3].
