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IRAS tax collection for FY15/16 hits all-time high of S$44.8b

Amount makes up 11.1% of Singapore GDP; millionaires' club swells to 5,141 people from 4,557 a year earlier

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The Inland Revenue Authority of Singapore (IRAS) collected S$47 billion in tax revenue in the fiscal year 2017, close to 5 per cent more than a year ago.

Singapore

DESPITE slower economic growth, taxpayers have earned and contributed more to the government's coffers in the last financial year. The Inland Revenue Authority of Singapore (IRAS) collected S$44.8 billion in tax revenue for FY15/16 - marking a 3.2 per cent increase year on year

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