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
Singapore
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.
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 to the preceding year, showed the Inland Revenue Authority of Singapore's (Iras) latest annual report on Friday.
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