Higher over the period
Singapore Tax Revenue as Percentage of GDP moved from 13.14 Percentage in 2015 to 13.56 Percentage in 2024 (+3.2%), an average of +0.4% a year. The series high was 13.93 Percentage in 2017 and the low 11.66 Percentage in 2022.
What Singapore Tax Revenue as Percentage of GDP shows
Singapore Tax Revenue as Percentage of GDP was 13.56 Percentage in 2024, down 1.3% on 2023. The Tax Revenue as a Percentage of GDP dataset for Singapore provides a comprehensive assessment of the country's tax collection performance relative to the size of its economy, offering valuable insights into fiscal capacity, government revenue generation, and macroeconomic stability.
A 16.3% peak-to-trough swing
The gap between the series high (2017) and low (2022) is 2.26 Percentage. The sharpest single-year move was +17.8% in 2023.
Ranks 19 of 27 countries covered
Among the 27 countries in this dataset, Singapore ranks 19 for 2024, behind Denmark (33.36 Percentage) and Sweden (27.23 Percentage). It accounts for 98.1% of the global total in 2024.
Full series
Singapore Tax Revenue as Percentage of GDP by year
Complete annual series with year-on-year change. Values are reported in Percentage.
Scroll the table sideways to see all columns.
| Year | Percentage | Change vs prior year |
|---|---|---|
| 2024 | 13.56 | −1.3% |
| 2023 | 13.74 | +17.8% |
| 2022 Trough | 11.66 | −7.5% |
| 2021 | 12.61 | −0.5% |
| 2020 | 12.67 | −3.7% |
| 2019 | 13.15 | +1.4% |
| 2018 | 12.98 | −6.8% |
| 2017Peak | 13.93 | +5.2% |
| 2016 | 13.24 | +0.7% |
| 2015 | 13.14 | — |
Regional context
How Singapore compares in East Asia & Pacific
Tax Revenue as Percentage of GDP by country, 2024, Percentage. Singapore is highlighted.
1Thailand15.18
2Philippines14.37
3Singapore13.56
4South Korea13.29
5Malaysia12.43
6China7.02
Data definition
Inclusions and exclusions
Tax Revenue as Percentage of GDP — – Tax Revenue (% of GDP) refers to the total tax revenue collected by the central government, expressed as a percentage of Gross Domestic Product (GDP). Tax revenue consists of compulsory, unrequited payments made by individuals and businesses to the government for public purposes. The indicator measures the relative size of tax collections compared with the overall economy and is widely used to assess a government's revenue-generating capacity, fiscal performance, and tax effort.
The data includes compulsory tax payments collected by the central government, such as taxes on income, profits and capital gains, payroll taxes, property taxes, taxes on goods and services (including VAT, GST, and excise duties), taxes on international trade, customs duties, and other taxes recorded under the IMF Government Finance Statistics (GFS) framework. The indicator is expressed as a percentage of GDP using standardized national accounts and government finance statistics.
The data excludes non-tax government revenue such as grants, fees, licenses, administrative charges, dividends from state-owned enterprises, and income from government assets. It also excludes fines, penalties, most social security contributions, refunds treated as negative revenue, and informal or unrecorded tax collections not captured in official government finance statistics. For many countries, the indicator reflects central government tax revenue only and may not include taxes collected by state, provincial, or local governments.
About this indicator
Tax Revenue as Percentage of GDP — – Tax Revenue (% of GDP) refers to the total tax revenue collected by the central government, expressed as a percentage of Gross Domestic Product (GDP). Tax revenue consists of compulsory, unrequited payments made by individuals and businesses to the government for public purposes. The indicator measures the relative size of tax collections compared with the overall economy and is widely used to assess a government's revenue-generating capacity, fiscal performance, and tax effort.
Measured as a Percentage, the dataset covers 2015–2024 and indicates a generally stable tax-to-GDP ratio with moderate fluctuations over the decade. Tax revenue increased from 13.14% of GDP in 2015 to 13.93% in 2017, moderated to 12.98% in 2018, and declined gradually to a decade low of 11.66% in 2022. The ratio subsequently recovered significantly to 13.74% in 2023 before easing marginally to 13.56% in 2024.
The year-wise trend reflects Singapore's efficient fiscal framework, competitive tax system, and responsiveness to changing economic conditions. The temporary decline between 2018 and 2022 was followed by a strong rebound, highlighting improved revenue mobilization alongside economic recovery. Despite moderate fluctuations, Singapore continues to maintain a stable tax base that supports investments in infrastructure, healthcare, education, innovation, and long-term economic development.
This dataset serves as an important resource for policymakers, economists, financial institutions, investors, researchers, and international organizations evaluating fiscal sustainability, taxation efficiency, and government revenue performance. It supports benchmarking Singapore against regional and global economies, assessing the effectiveness of tax policies, monitoring long-term fiscal trends, forecasting future government revenue, and analyzing the relationship between taxation, economic growth, and public expenditure. The data also contributes to studies on public finance, fiscal resilience, economic competitiveness, and sustainable development.
Overall, the 2015–2024 dataset highlights Singapore's stable tax revenue performance relative to GDP and its ability to adapt to changing economic conditions. It provides a reliable foundation for fiscal analysis, policy evaluation, investment planning, and long-term economic forecasting while supporting evidence-based public finance management.
- Indicator
- Tax Revenue as Percentage of GDP
- Country
- Singapore
- Region
- East Asia & Pacific
- Unit
- Percentage
- Coverage
- 2015–2024, annual
- Category
- BFSI
- Last updated
- July 2026
- Source
- data.worldbank.org
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Frequently asked questions
What is Singapore Tax Revenue as Percentage of GDP?
Definition – Tax Revenue (% of GDP) refers to the total tax revenue collected by the central government, expressed as a percentage of Gross Domestic Product (GDP). Tax revenue consists of compulsory, unrequited payments made by individuals and businesses to the government for public purposes. The indicator measures the relative size of tax collections compared with the overall economy and is widely used to assess a government's revenue-generating capacity, fiscal performance, and tax effort.
What was Singapore Tax Revenue as Percentage of GDP in 2024?
Singapore Tax Revenue as Percentage of GDP was 13.56 Percentage in 2024, down 1.3% on 2023.
How has Singapore Tax Revenue as Percentage of GDP changed between 2015 and 2024?
Singapore Tax Revenue as Percentage of GDP moved from 13.14 Percentage in 2015 to 13.56 Percentage in 2024 (+3.2%), an average of +0.4% a year. The series high was 13.93 Percentage in 2017 and the low 11.66 Percentage in 2022.
Which year had the highest and lowest Singapore Tax Revenue as Percentage of GDP?
The highest value was 13.93 Percentage in 2017 and the lowest was 11.66 Percentage in 2022.
What does the Singapore Tax Revenue as Percentage of GDP data include and exclude?
Included: The data includes compulsory tax payments collected by the central government, such as taxes on income, profits and capital gains, payroll taxes, property taxes, taxes on goods and services (including VAT, GST, and excise duties), taxes on international trade, customs duties, and other taxes recorded under the IMF Government Finance Statistics (GFS) framework. The indicator is expressed as a percentage of GDP using standardized national accounts and government finance statistics. Excluded: The data excludes non-tax government revenue such as grants, fees, licenses, administrative charges, dividends from state-owned enterprises, and income from government assets. It also excludes fines, penalties, most social security contributions, refunds treated as negative revenue, and informal or unrecorded tax collections not captured in official government finance statistics. For many countries, the indicator reflects central government tax revenue only and may not include taxes collected by state, provincial, or local governments.
Where does the Singapore Tax Revenue as Percentage of GDP data come from?
The series is sourced from data.worldbank.org (https://data.worldbank.org/indicator/GC.TAX.TOTL.GD.ZS). It covers 2015–2024 and is reported in Percentage.
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