IRAS reports 13.1% rise in tax revenue amid economic recovery Post-COVID-19

Inland Revenue Authority of Singapore (IRAS) reported a 13.1% increase in tax revenue for FY 2022/23, reaching S$68.6 billion. This rise reflects Singapore’s post-pandemic economic recovery.

Corporate Income Tax saw the most significant gain, while digital enhancements improved the user experience, with 70% approval for the new VICA Bot launched in 2023.