Taxes on income, profits and capital gains in Singapore
Singapore: Taxes on income, profits and capital gains was 51.0% 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 total taxes.
Analysis
The most recent figure for taxes on income, profits and capital gains in Singapore is 51.0%, measured in 2024.
Compared with earlier readings it is down 2.7% on the previous year and up 15.3% over ten years.
Over the whole period, taxes on income, profits and capital gains in Singapore peaked at 53.7% in 2020 and was at its lowest, 35.6%, in 1972.
Singapore ranks 31st 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 in Singapore, year by year
| Year | % of total taxes | Change |
|---|---|---|
| 1972 | 35.6% | — |
| 1973 | 38.1% | +7.1% |
| 1974 | 46.3% | +21.4% |
| 1975 | 51.0% | +10.2% |
| 1976 | 47.6% | -6.7% |
| 1977 | 48.3% | +1.3% |
| 1978 | 44.5% | -7.7% |
| 1979 | 41.7% | -6.3% |
| 1980 | 47.0% | +12.7% |
| 1981 | 50.3% | +7.0% |
| 1982 | 51.8% | +2.8% |
| 1983 | 49.9% | -3.6% |
| 1984 | 46.8% | -6.2% |
| 1985 | 45.4% | -3.1% |
| 1986 | 41.8% | -7.8% |
| 1987 | 41.5% | -0.6% |
| 1988 | 38.5% | -7.2% |
| 1989 | 39.7% | +3.0% |
| 1990 | 44.6% | +12.4% |
| 1991 | 45.0% | +0.9% |
| 1992 | 47.0% | +4.4% |
| 1993 | 45.7% | -2.8% |
| 1994 | 41.4% | -9.4% |
| 1995 | 41.5% | +0.2% |
| 1996 | 42.0% | +1.3% |
| 1997 | 41.7% | -0.8% |
| 1998 | 47.3% | +13.5% |
| 1999 | 47.4% | +0.1% |
| 2000 | 50.2% | +5.9% |
| 2001 | 52.7% | +5.0% |
| 2002 | 51.7% | -1.9% |
| 2003 | 46.2% | -10.6% |
| 2004 | 44.6% | -3.5% |
| 2005 | 47.4% | +6.2% |
| 2006 | 47.2% | -0.4% |
| 2007 | 42.7% | -9.4% |
| 2008 | 51.1% | +19.6% |
| 2009 | 47.0% | -8.1% |
| 2010 | 44.6% | -5.0% |
| 2011 | 44.6% | +0.1% |
| 2012 | 44.7% | +0.1% |
| 2013 | 43.0% | -3.7% |
| 2014 | 44.2% | +2.7% |
| 2015 | 44.7% | +1.1% |
| 2016 | 44.9% | +0.4% |
| 2017 | 48.3% | +7.5% |
| 2018 | 46.5% | -3.7% |
| 2019 | 48.1% | +3.4% |
| 2020 | 53.7% | +11.7% |
| 2021 | 49.6% | -7.6% |
| 2022 | 51.0% | +2.6% |
| 2023 | 52.4% | +2.8% |
| 2024 | 51.0% | -2.7% |
Singapore compared with similar countries
- Singapore's 51.0% is above the median for high income countries, which is 43.9%, 1.2× the median. (55 countries reporting)
- Singapore's 51.0% is above the median for East Asia & Pacific, which is 39.9%, 1.3× the median. (25 countries reporting)
Averages by decade
| Decade | Average | Lowest | Highest | Years |
|---|---|---|---|---|
| 1970s | 44.1% | 35.6% | 51.0% | 8 |
| 1980s | 45.3% | 38.5% | 51.8% | 10 |
| 1990s | 44.4% | 41.4% | 47.4% | 10 |
| 2000s | 48.1% | 42.7% | 52.7% | 10 |
| 2010s | 45.4% | 43.0% | 48.3% | 10 |
| 2020s | 51.5% | 49.6% | 53.7% | 5 |
Countries ranked near Singapore
More public sector data for Singapore
- Democracy, 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)
- Elected parliament, 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)
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- Chief executive of the government is elected 1 (2025)
- Elected parliament 1 (2025)
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Frequently asked questions
- What is taxes on income, profits and capital gains in Singapore?
- Taxes on income, profits and capital gains in Singapore was 51.0% 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 53.7% in 2020.
- What is the lowest taxes on income, profits and capital gains recorded in Singapore?
- The lowest recorded value was 35.6% in 1972.
- How does Singapore rank for taxes on income, profits and capital gains?
- Singapore ranks 31st 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 15.3%. 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 total taxes). Statizoid updates them automatically from the source API.
Download this data
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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 total taxes which includes all compulsory, unrequited payments, in cash or in kind, made by institutional units to government units.