Tax Revenue Collections09 Jan 2018
Parliamentary Question by Mr Gan Thiam Poh:
To ask the Minister for Finance (a) whether the tax revenues collected from the top 20 per cent of income earners have been declining or increasing in the past 10 years; and (b) what are the changes in tax revenue in each age group for the past 10 years.
Parliamentary Reply by Minister for Finance, Mr Heng Swee Keat:
The personal income taxes collected from the top 20 per cent of taxpayers have more than doubled between Year of Assessment 2007 and 2017, from $4.3 billion to $9.8 billion. This is due to both an increase in the number of taxpayers, and higher amounts collected from each taxpayer on average. Generally, this trend is observed across all age groups within the top 20 per cent of taxpayers.