Singapore: Taxes on goods and services

* indicates monthly or quarterly data series
 Singapore

Taxes on goods and services, percent of total revenue

 Latest value 20.17
 Year 2022
 Measure percent
 Data availability 1972 - 2022
 Average 18.79
 Min - Max 13.39 - 26.21
 Source The World Bank
The latest value from 2022 is 20.17 percent, a decline from 20.82 percent in 2021. In comparison, the world average is 37.61 percent, based on data from 95 countries. Historically, the average for Singapore from 1972 to 2022 is 18.79 percent. The minimum value, 13.39 percent, was reached in 1983 while the maximum of 26.21 percent was recorded in 2009. See the global rankings for that indicator or use the country comparator to compare trends over time.
Select indicator
* indicates monthly or quarterly data series


Recent data
Singapore - Taxes on goods and services - Recent values chart

Historical series
Singapore - Taxes on goods and services - historical chart - 1972-2022




Definition: Taxes on goods and services include general sales and turnover or value added taxes, selective excises on goods, selective taxes on services, taxes on the use of goods or property, taxes on extraction and production of minerals, and profits of fiscal monopolies.

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 Related indicators Latest Reference Measure
 Government spending, percent of GDP 10.23 2023 percent
 Government spending, in dollars 51.28 2023 billion U.S. dollars
 Fiscal balance, percent of GDP 3.48 2023 percent
 Government debt 174.84 2023 percent
 Government expenditure 17.78 Q3/2024 billion
 Tax revenue 12.03 2022 percent
 Commercial tax rate 21.00 2019 percent
 Tax preparation time 64 2019 hours
 Number of taxes 5 2019 taxes
 Taxes on goods and services 20.17 2022 percent
 Taxes on international trade 0.05 2007 percent
 Income and profits taxes 37.81 2022 percent
 Foreign aid 9.14 2004 million U.S. dollars
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