Singapore’s corporate tax takings in first 9 months of FY23 almost at full-year estimate

IN THE first nine months of the fiscal year, Singapore’s corporate income tax receipts have almost reached the full-year estimate, with overall operating revenue also ahead of the pace, data from the Accountant-General’s Department indicated.

Personal income tax receipts, the next-largest components of operating revenue, have reached about 80 per cent of the full-year target, but goods and services tax (GST) takings are falling short.

“Operating revenue collection has been robust, even considering the uncertain economic environment,” said DBS economist Chua Han Teng in a Wednesday (Jan 31) note.