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Iras collects S$53.5b in tax revenues for FY2019/20

Overall takings up 2.1%, with personal income tax increasing the most, followed by corporate tax

Personal income tax, which constitutes 23 per cent of all tax collected, saw the largest increase at 5.7 per cent to S$12.4 billion, compared with the preceding year.


REVENUE from corporate taxes and personal income taxes saw the biggest rise among all tax categories, as Singapore's tax authority reported a 2.1 per cent increase in overall takings for financial year 2019/2020. Overall, Iras collected S$53.5 billion in tax revenue.


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