A shared responsibility
Singapore's remarkable transformation into a thriving modern nation reflects decades of collective effort and shared commitment. Taxes play a crucial role in this ongoing journey, with every contribution helping to build an inclusive and progressive Singapore.
Every dollar paid in taxes helps build the Singapore we all call home. Whether it’s funding education, healthcare, public transport, or national defence, your fair share fuels the systems that allow our people and businesses to thrive. Let’s continue building a stronger, more united Singapore together.
A partner of the community in nation-building and inclusive growth
IRAS acts as an agent of the government to assess, collect and enforce payment of taxes. In connection with such functions, IRAS is responsible for administering the following Acts:
- Income Tax Act;
- Multinational Enterprise (Minimum Tax) Act;
- Economic Expansion Incentives (Relief from Income Tax) Act;
- Property Tax Act;
- Goods & Services Tax Act;
- Betting & Sweepstake Duties Act;
- Private Lotteries Act;
- Stamp Duties Act;
- Casino Control Act – Part IX (Casino Tax); and
- Estate Duty Act
As the main tax administrator for the Ministry of Finance, IRAS plays a role in tax policy formulation by providing policy inputs, as well as the technical and administrative implications of each policy. IRAS also actively monitors developments in the external economic and tax environment to identify areas for policy review and changes aimed at fostering a competitive tax environment that encourages enterprise and growth.
IRAS also grants licenses for appraisers under the Appraisers Act.
The other functions performed by IRAS include representing the government in tax treaty negotiations, administering enterprise disbursement schemes, providing advice on property valuation, and drafting of tax legislation.
Our revenue collection
IRAS plays a key role in the collection of tax revenue, which is the main source of Singapore’s Government Operating Revenue (GOR). In FY 2024/25, a total of $88.9 billion, or 76.9% of the GOR was collected by IRAS.
The distribution of taxes collected by IRAS in FY 2024/25 is shown in the chart below. Total Income Taxes (Corporate Income Tax, Individual Income Tax and Withholding Tax) made up 58.9% of IRAS' collection contributing a total of $52.4 billion.
