Taxes on goods and services (% of revenue) in Singapore
Singapore: Taxes on goods and services (% of revenue) was 21.5% in 2024. ▲ Rising
Taxes on goods and services in Singapore, 1972–2024
Source: Government Finance Statistics Yearbook and data files, International Monetary Fund (IMF). Measured in % of revenue.
Analysis
In 2024, taxes on goods and services in Singapore stood at 21.5%.
That represents a change of up 5.1% on the previous year and down 9.0% over ten years.
Over the whole period, taxes on goods and services in Singapore peaked at 26.2% in 2009 and was at its lowest, 13.4%, in 1983.
That places Singapore 123rd out of 156 countries with data for 2024, putting it in the bottom quarter.
The long-run direction has been consistently rising across the 53 years of available data.
Taxes on goods and services (% of revenue) in Singapore, year by year
| Year | % of revenue | Change |
|---|---|---|
| 1972 | 17.4% | — |
| 1973 | 17.6% | +1.1% |
| 1974 | 16.1% | -8.3% |
| 1975 | 14.5% | -9.9% |
| 1976 | 14.7% | +1.1% |
| 1977 | 15.4% | +4.6% |
| 1978 | 15.8% | +3.0% |
| 1979 | 16.8% | +6.4% |
| 1980 | 15.8% | -6.2% |
| 1981 | 13.8% | -12.4% |
| 1982 | 14.2% | +2.8% |
| 1983 | 13.4% | -5.8% |
| 1984 | 14.0% | +4.3% |
| 1985 | 13.8% | -1.3% |
| 1986 | 13.9% | +0.7% |
| 1987 | 14.5% | +4.2% |
| 1988 | 19.5% | +34.6% |
| 1989 | 19.6% | +0.6% |
| 1990 | 16.0% | -18.4% |
| 1991 | 16.2% | +1.2% |
| 1992 | 15.8% | -2.4% |
| 1993 | 15.2% | -3.6% |
| 1994 | 20.2% | +32.5% |
| 1995 | 20.2% | +0.3% |
| 1996 | 17.0% | -16.0% |
| 1997 | 16.8% | -1.2% |
| 1998 | 14.9% | -11.4% |
| 1999 | 16.4% | +9.9% |
| 2000 | 18.0% | +10.3% |
| 2001 | 18.4% | +2.1% |
| 2002 | 18.5% | +0.6% |
| 2003 | 24.8% | +33.6% |
| 2004 | 23.6% | -4.5% |
| 2005 | 23.4% | -1.0% |
| 2006 | 22.2% | -5.1% |
| 2007 | 23.3% | +4.7% |
| 2008 | 21.7% | -6.5% |
| 2009 | 26.2% | +20.6% |
| 2010 | 26.2% | -0.0% |
| 2011 | 25.3% | -3.6% |
| 2012 | 23.7% | -6.1% |
| 2013 | 23.7% | -0.0% |
| 2014 | 23.6% | -0.6% |
| 2015 | 23.2% | -1.7% |
| 2016 | 22.9% | -1.2% |
| 2017 | 19.8% | -13.6% |
| 2018 | 21.1% | +6.6% |
| 2019 | 18.1% | -14.1% |
| 2020 | 20.4% | +12.8% |
| 2021 | 20.8% | +1.9% |
| 2022 | 20.2% | -3.1% |
| 2023 | 20.4% | +1.2% |
| 2024 | 21.5% | +5.1% |
Singapore compared with similar countries
- Singapore's 21.5% is below the median for high income countries, which is 26.4%, 81% of the median. (57 countries reporting)
- Singapore's 21.5% is below the median for East Asia & Pacific, which is 25.7%, 83% of the median. (26 countries reporting)
Averages by decade
| Decade | Average | Lowest | Highest | Years |
|---|---|---|---|---|
| 1970s | 16.0% | 14.5% | 17.6% | 8 |
| 1980s | 15.2% | 13.4% | 19.6% | 10 |
| 1990s | 16.9% | 14.9% | 20.2% | 10 |
| 2000s | 22.0% | 18.0% | 26.2% | 10 |
| 2010s | 22.8% | 18.1% | 26.2% | 10 |
| 2020s | 20.7% | 20.2% | 21.5% | 5 |
Countries ranked near Singapore
More public sector data for Singapore
- Democracy, annual growth rate 0 % change on previous year (2025)
- Chief executive of the government is elected, annual growth rate 0 % change on previous year (2025)
- Elected parliament, annual growth rate 0 % change on previous year (2025)
- Men's universal right to vote, annual growth rate 0 % change on previous year (2025)
- Universal right to vote, annual growth rate 0 % change on previous year (2025)
- Universal right to vote in practice, annual growth rate 0 % change on previous year (2025)
- Arms imports 57.00 million SIPRI trend indicator values (2025)
- Arms imports (SIPRI trend indicator values), per capita 57.65 SIPRI trend indicator values per person (2024)
- Arms imports (SIPRI trend indicator values), per unit of GDP 0.0006 SIPRI trend indicator values per US$ of GDP (2024)
- Arms imports (SIPRI trend indicator values), annual growth rate -27.95 % change on previous year (2024)
Frequently asked questions
- What is taxes on goods and services in Singapore?
- Taxes on goods and services in Singapore was 21.5% in 2024, according to Government Finance Statistics Yearbook and data files, International Monetary Fund (IMF).
- What is the highest taxes on goods and services recorded in Singapore?
- The highest recorded value was 26.2% in 2009.
- What is the lowest taxes on goods and services recorded in Singapore?
- The lowest recorded value was 13.4% in 1983.
- How does Singapore rank for taxes on goods and services?
- Singapore ranks 123rd out of 156 countries with data for 2024.
- Is taxes on goods and services rising or falling in Singapore?
- Over the last ten years it is down 9.0%. The long-run trend across the full record is rising.
- Where does this Singapore data come from?
- The figures come from Government Finance Statistics Yearbook and data files, International Monetary Fund (IMF), published as part of Taxes on goods and services (% of revenue). Statizoid updates them automatically from the source API.
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About this data
General taxes on goods and services are taxes levied on the production, leasing, delivery, sale, purchase or other change of ownership of a wide range of goods and the provision of a wide range of services. This indicator is expressed as a percentage of revenue which includes all transactions that add to the amount of economic value of a unit or sector.