Taxes on income, profits and capital gains (% of revenue) in Singapore
Singapore: Taxes on income, profits and capital gains (% of revenue) was 39.0% in 2024. ▲ Rising
Taxes on income, profits and capital gains 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 income, profits and capital gains in Singapore stood at 39.0%.
The figure is down 2.4% on the previous year and up 17.2% over ten years.
Over the whole period, taxes on income, profits and capital gains in Singapore peaked at 40.0% in 2023 and was at its lowest, 19.1%, in 1987.
Singapore ranks 18th of 153 countries on this measure, in the top quarter.
The long-run direction has been consistently rising across the 53 years of available data.
Taxes on income, profits and capital gains (% of revenue) in Singapore, year by year
| Year | % of revenue | Change |
|---|---|---|
| 1972 | 24.2% | — |
| 1973 | 27.5% | +13.8% |
| 1974 | 34.6% | +25.6% |
| 1975 | 36.9% | +6.7% |
| 1976 | 34.2% | -7.3% |
| 1977 | 33.9% | -0.9% |
| 1978 | 31.0% | -8.5% |
| 1979 | 29.0% | -6.6% |
| 1980 | 32.5% | +12.2% |
| 1981 | 35.0% | +7.8% |
| 1982 | 36.7% | +4.9% |
| 1983 | 32.6% | -11.3% |
| 1984 | 30.1% | -7.5% |
| 1985 | 27.0% | -10.6% |
| 1986 | 20.9% | -22.4% |
| 1987 | 19.1% | -8.6% |
| 1988 | 20.9% | +9.5% |
| 1989 | 24.3% | +16.3% |
| 1990 | 25.6% | +5.3% |
| 1991 | 27.0% | +5.3% |
| 1992 | 28.5% | +5.6% |
| 1993 | 26.0% | -8.8% |
| 1994 | 26.5% | +2.0% |
| 1995 | 25.6% | -3.5% |
| 1996 | 23.9% | -6.4% |
| 1997 | 23.8% | -0.5% |
| 1998 | 24.7% | +3.7% |
| 1999 | 25.0% | +1.2% |
| 2000 | 29.0% | +16.2% |
| 2001 | 31.6% | +8.8% |
| 2002 | 31.0% | -1.9% |
| 2003 | 29.6% | -4.4% |
| 2004 | 27.6% | -6.9% |
| 2005 | 30.2% | +9.5% |
| 2006 | 31.2% | +3.4% |
| 2007 | 28.5% | -8.8% |
| 2008 | 34.4% | +21.0% |
| 2009 | 35.7% | +3.6% |
| 2010 | 34.0% | -4.7% |
| 2011 | 34.4% | +1.1% |
| 2012 | 34.7% | +1.0% |
| 2013 | 33.1% | -4.6% |
| 2014 | 33.3% | +0.4% |
| 2015 | 32.7% | -1.8% |
| 2016 | 32.4% | -0.9% |
| 2017 | 33.5% | +3.4% |
| 2018 | 33.3% | -0.5% |
| 2019 | 30.3% | -9.1% |
| 2020 | 37.9% | +25.2% |
| 2021 | 36.9% | -2.6% |
| 2022 | 37.8% | +2.4% |
| 2023 | 40.0% | +5.7% |
| 2024 | 39.0% | -2.4% |
Singapore compared with similar countries
- Singapore's 39.0% is above the median for high income countries, which is 24.5%, 1.6× the median. (55 countries reporting)
- Singapore's 39.0% is above the median for East Asia & Pacific, which is 22.7%, 1.7× the median. (25 countries reporting)
Averages by decade
| Decade | Average | Lowest | Highest | Years |
|---|---|---|---|---|
| 1970s | 31.4% | 24.2% | 36.9% | 8 |
| 1980s | 27.9% | 19.1% | 36.7% | 10 |
| 1990s | 25.6% | 23.8% | 28.5% | 10 |
| 2000s | 30.9% | 27.6% | 35.7% | 10 |
| 2010s | 33.1% | 30.3% | 34.7% | 10 |
| 2020s | 38.3% | 36.9% | 40.0% | 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 income, profits and capital gains in Singapore?
- Taxes on income, profits and capital gains in Singapore was 39.0% in 2024, according to Government Finance Statistics Yearbook and data files, International Monetary Fund (IMF).
- What is the highest taxes on income, profits and capital gains recorded in Singapore?
- The highest recorded value was 40.0% in 2023.
- What is the lowest taxes on income, profits and capital gains recorded in Singapore?
- The lowest recorded value was 19.1% in 1987.
- How does Singapore rank for taxes on income, profits and capital gains?
- Singapore ranks 18th out of 153 countries with data for 2024.
- Is taxes on income, profits and capital gains rising or falling in Singapore?
- Over the last ten years it is up 17.2%. 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 income, profits and capital gains (% of revenue). Statizoid updates them automatically from the source API.
Download this data
CSV · JSON — 53 observations, free to reuse under CC BY 4.0 (World Bank Open Data).
About this data
Taxes on income, profits, and capital gains are taxes payable on the actual or presumed incomes, profits and capital gains. 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.