Taxes on incomes of individuals and corporations as share of GDP in Singapore
Singapore: Taxes on incomes of individuals and corporations as share of GDP was 7.3% in 2023. ▼ Falling
Latest (2023)
7.3%
Change on year
up 19.7%
World rank
73rd
of 184 countries
All-time high
9.8%
in 1982
All-time low
5.2%
in 2004
Years of data
44
1980–2023
Taxes on incomes of individuals and corporations as share of GDP in Singapore, 1980–2023
Source: UNU-WIDER Government Revenue Dataset (2025) – with major processing by Our World in Data. Measured in %.
Analysis
In 2023, taxes on incomes of individuals and corporations as share of gdp in Singapore stood at 7.3%.
Compared with earlier readings it is up 19.7% on the previous year and up 28.5% over ten years.
Over the whole period, taxes on incomes of individuals and corporations as share of gdp in Singapore peaked at 9.8% in 1982 and was at its lowest, 5.2%, in 2004.
Singapore ranks 73rd of 184 countries on this measure, in the middle of the range.
The long-run direction has been consistently falling across the 44 years of available data.
Taxes on incomes of individuals and corporations as share of GDP in Singapore, year by year
| Year | % | Change |
|---|---|---|
| 1980 | 8.0% | — |
| 1981 | 9.0% | +12.6% |
| 1982 | 9.8% | +8.8% |
| 1983 | 9.4% | -4.4% |
| 1984 | 8.3% | -11.6% |
| 1985 | 7.1% | -14.1% |
| 1986 | 5.3% | -25.1% |
| 1987 | 5.4% | +2.0% |
| 1988 | 5.4% | -0.1% |
| 1989 | 6.2% | +14.9% |
| 1990 | 6.5% | +4.2% |
| 1991 | 6.8% | +5.3% |
| 1992 | 7.6% | +10.8% |
| 1993 | 7.4% | -1.7% |
| 1994 | 6.9% | -7.6% |
| 1995 | 6.5% | -4.9% |
| 1996 | 6.7% | +2.1% |
| 1997 | 6.4% | -4.4% |
| 1998 | 6.6% | +4.0% |
| 1999 | 6.9% | +3.7% |
| 2000 | 7.5% | +8.2% |
| 2001 | 7.7% | +3.1% |
| 2002 | 6.6% | -14.7% |
| 2003 | 5.8% | -12.3% |
| 2004 | 5.2% | -10.0% |
| 2005 | 5.5% | +5.9% |
| 2006 | 5.6% | +1.8% |
| 2007 | 5.5% | -1.9% |
| 2008 | 7.0% | +28.3% |
| 2009 | 6.1% | -13.5% |
| 2010 | 5.7% | -6.3% |
| 2011 | 5.8% | +2.6% |
| 2012 | 6.1% | +3.7% |
| 2013 | 5.7% | -5.9% |
| 2014 | 6.0% | +5.0% |
| 2015 | 5.9% | -2.0% |
| 2016 | 6.0% | +1.7% |
| 2017 | 6.8% | +13.0% |
| 2018 | 6.1% | -10.4% |
| 2019 | 6.3% | +4.5% |
| 2020 | 6.8% | +8.2% |
| 2021 | 6.4% | -7.0% |
| 2022 | 6.1% | -3.6% |
| 2023 | 7.3% | +19.7% |
Singapore compared with similar countries
- Singapore's 7.3% is below the median for high income countries, which is 10.0%, 73% of the median. (63 countries reporting)
- Singapore's 7.3% is above the median for East Asia & Pacific, which is 6.9%, 1.1× the median. (29 countries reporting)
Averages by decade
| Decade | Average | Lowest | Highest | Years |
|---|---|---|---|---|
| 1980s | 7.4% | 5.3% | 9.8% | 10 |
| 1990s | 6.8% | 6.4% | 7.6% | 10 |
| 2000s | 6.2% | 5.2% | 7.7% | 10 |
| 2010s | 6.0% | 5.7% | 6.8% | 10 |
| 2020s | 6.7% | 6.1% | 7.3% | 4 |
Countries ranked near Singapore
- 70 Kazakhstan 7.4% compare
- 71 Slovenia 7.4% compare
- 72 Malawi 7.4% compare
- 74 Equatorial Guinea 7.3% compare
- 75 Serbia 7.2% compare
- 76 Micronesia (country) 7.2% compare
More economy & growth data for Singapore
- Africa's Development Dynamics (AfDD) Table 04 - Annual real GDP 1.99 Percent per annum (2029)
- Africa's Development Dynamics (AfDD) Table 02 - Annual real GDP 2.5 Percent per annum (2029)
- Foreign direct investment, net outflows (BoP, current US$), gaps 94.20 billion BoP, current US$ (2025)
- Foreign direct investment, net outflows (BoP, current US$), per unit 0.156 BoP, current US$ per US$ of GDP (2025)
- Foreign direct investment, net outflows (BoP, current US$), per capita 15,415 BoP, current US$ per person (2025)
- Foreign direct investment, net inflows (BoP, current US$), gaps filled 159.09 billion BoP, current US$ (2025)
- Foreign direct investment, net inflows (BoP, current US$), annual 17.78 % change on previous year (2025)
- Foreign direct investment, net inflows (BoP, current US$), per unit 0.2634 BoP, current US$ per US$ of GDP (2025)
- Foreign direct investment, net inflows (BoP, current US$), per capita 26,032 BoP, current US$ per person (2025)
- Total reserves (includes gold, current US$), annual growth rate 12.55 % change on previous year (2025)
Frequently asked questions
- What is taxes on incomes of individuals and corporations as share of gdp in Singapore?
- Taxes on incomes of individuals and corporations as share of gdp in Singapore was 7.3% in 2023, according to UNU-WIDER Government Revenue Dataset (2025) – with major processing by Our World in Data.
- What is the highest taxes on incomes of individuals and corporations as share of gdp recorded in Singapore?
- The highest recorded value was 9.8% in 1982.
- What is the lowest taxes on incomes of individuals and corporations as share of gdp recorded in Singapore?
- The lowest recorded value was 5.2% in 2004.
- How does Singapore rank for taxes on incomes of individuals and corporations as share of gdp?
- Singapore ranks 73rd out of 184 countries with data for 2023.
- Is taxes on incomes of individuals and corporations as share of gdp rising or falling in Singapore?
- Over the last ten years it is up 28.5%. The long-run trend across the full record is falling.
- Where does this Singapore data come from?
- The figures come from UNU-WIDER Government Revenue Dataset (2025) – with major processing by Our World in Data, published as part of Taxes on incomes of individuals and corporations as share of GDP. Statizoid updates them automatically from the source API.
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About this data
Tax revenue on incomes, profits and capital gains divided by gross domestic product, expressed as a percentage.