Singapore tax revenue rises 10.7% to S$88.9 billion amid strong economic growth, consumer spending

In the financial year from April 2024 to March 2025, the Inland Revenue Authority of Singapore collected a total of S$88.9 billion. - Photo: ST file

SINGAPORE: Tax collection in Singapore rose by 10.7 per cent, driven by robust economic growth and higher consumer spending.

In the financial year from April 2024 to March 2025, the Inland Revenue Authority of Singapore (Iras) collected a total of S$88.9 billion. This is 10.7 per cent higher than the S$80.3 billion collected from April 2023 to March 2024.