4th September 2026 – (Singapore – Singapore’s tax revenues increased by 9.4 per cent to S$97.3 billion in the 2025/26 financial year, underpinned by firmer economic activity and consumer spending, the Inland Revenue Authority of Singapore said on Friday. Tax collections accounted for 74.8 per cent of the Government’s operating revenue and 12.3 per cent of gross domestic product. Corporate income tax remained the single largest source at S$34.4 billion, up from S$30.9 billion a year earlier and representing 35.4 per cent of total takings. Beyond collections, the authority processed nearly S$1.2 billion in payouts to support businesses and workers as part of broader efforts to bolster resilience and inclusive growth.
IRAS confirmed its role and mandate as Singapore’s national tax authority in the update, noting the continued emphasis on efficient revenue administration and service delivery.