Singapore tax collection down 7.3%, first fall in over 15 years
Decline was due to dampened business activities amid Covid-19 pandemic, says Iras
Add BT as a preferred source
DeeperDive is a beta AI feature. Refer to full articles for the facts.
Singapore
TAX collection in Singapore has fallen for the first time in more than 15 years, dropping 7.3 per cent to S$49.6 billion, due to dampened business activities amid the pandemic.
The last time tax collection dipped was in FY2003/04, when collection slipped 0.41 per cent.
Decoding Asia newsletter: your guide to navigating Asia in a new global order. Sign up here to get Decoding Asia newsletter. Delivered to your inbox. Free.
Copyright SPH Media. All rights reserved.
TRENDING NOW
Shelving S$5 billion office redevelopment plan proved ‘wise’ as geopolitical risks mount: OCBC chairman
Eurokars Group introduces rental car franchises Enterprise Rent-A-Car, National Car Rental, and Alamo to Singapore
20 photos that show how dramatically Singapore has changed in two decades
Singapore’s key exports up 15.3% in March from electronics surge, exceeding forecasts
