IRD Collections

The Department’s revenue collection for 2024-25 was $374.5 billion, an increase of $32.5 billion or 9.5% as compared with the previous year. Of the total revenue collected, Profits Tax and Stamp Duty together contributed 64.5%. The revenue collected by tax type for the latest three years is shown below:

This table basically consists of 4 columns. The first column is Type of tax. The second column is 2022-2023($m). The third column is 2023-2024($m). The fourth column is 2024-2025($m).
Type of tax	2022-23 ($m)		2023-24 ($m)		2024-25 ($m)
Profits Tax
Corporations	167,087.9		162,198.6		170,347.3
Unincorporated Businesses	7,124.6	174,212.5	8,299.1	170,497.7	7,340.6	177,687.9
Salaries Tax		79,490.4		79,869.8		88,878.8
Property Tax		3,842.2		3,906.4		3,983.6
Personal Assessment		6,719.8		7,321.9		8,223.3
Total Earnings and Profits Tax	264,264.9		261,595.8		278,773.6
Estate Duty	8.8		10.2		10.0
Stamp Duty	69,976.5		49,111.7		63,880.2
Betting Duty	25,823.9		28,467.0		28,511.7
Business Registration Fees	128.9		2,816.1		3,326.7
	95,938.1		80,405.0		95,728.6
Total revenue collected	360,203.0		342,000.8		374,502.2
% change over previous year	-4.8%		-5.1%		+9.5%