IRD Collections
The Department’s revenue collection for 2022-23 was $360.2 billion, a decrease of $18.3 billion or 4.8% as compared with the previous year. Of the total revenue collected, Profits Tax and Stamp Duty together contributed 67.8%. The revenue collected by tax type for the latest three years is shown below:
Type of tax | 2020-21 ($m) |
2021-22 ($m) |
2022-23 ($m) |
|||
---|---|---|---|---|---|---|
Profits Tax Corporations Unincorporated Businesses Salaries Tax Property Tax Personal Assessment |
129,489.7
|
75,027.3 3,957.2 6,293.7 |
162,088.1
|
75,570.2 3,984.5 6,457.3 |
167,087.9
|
79,490.4 3,842.2 6,719.8 |
Total Earnings and Profits Tax | 220,817.9 |
253,347.6 |
264,264.9 |
|||
Estate Duty Stamp Duty Betting Duty Business Registration Fees |
7.4 89,044.6 20,877.1 73.0 |
1.9 99,677.3 25,432.2 57.3 |
8.8 69,976.5 25,823.9 128.9 |
|||
110,002.1 | 125,168.7 | 95,938.1 | ||||
Total revenue collected % change over previous year |
+9.0% |
+14.4% |
-4.8% |