IRD Collections

The Department’s revenue collection for 2019-20 was $303.6 billion, a decrease of $37.9 billion or 11.1% as compared with the previous year. Of the total revenue collected, Profits Tax and Stamp Duty together contributed 73.5%. 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 2017-2018($m). The third column is 2018-2019($m). The fourth column is 2019-2020($m).

Type of tax

2017-18
($m)

2018-19
($m)

2019-20
($m)

Profits Tax

Corporations

Unincorporated Businesses

Salaries Tax

Property Tax

Personal Assessment

133,459.3

5,640.9

139,100.2

60,838.8

3,447.8

5,342.5

160,833.2

5,786.5

166,619.7

60,145.9

3,624.4

5,963.1

149,427.5

6,472.8

155,900.3

50,412.4

2,806.5

4,999.8

Total Earnings and Profits Tax

208,729.3

236,353.1

214,119.0

Estate Duty

Stamp Duty

Betting Duty

Business Registration Fees

31.3

95,172.8

21,959.1

2,726.7

88.7

79,978.7

22,194.4

2,826.7

53.6

67,198.0

22,012.2

189.6

119,889.9

105,088.5

89,453.4

Total revenue collected

% change over previous year

328,619.2

+13.2%

341,441.6

+3.9%

303,572.4

-11.1%