IRD Collections

The Department’s revenue collection for 2021-22 was $378.5 billion, an increase of $47.7 billion or 14.4% as compared with the previous year. Of the total revenue collected, Profits Tax and Stamp Duty together contributed 70.5%. 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 2019-2020($m). The third column is 2020-2021($m). The fourth column is 2021-2022($m).

Type of tax

2019-20
($m)

2020-21
($m)

2021-22
($m)

Profits Tax

Corporations

Unincorporated Businesses

Salaries Tax

Property Tax

Personal Assessment

149,427.5

6,472.8

155,900.3

50,412.4

2,806.5

4,999.8

129,489.7

6,050.0

135,539.7

75,027.3

3,957.2

6,293.7

162,088.1

5,247.5

167,335.6

75,570.2

3,984.5

6,457.3

Total Earnings and Profits Tax

214,119.0

220,817.9

253,347.6

Estate Duty

Stamp Duty

Betting Duty

Business Registration Fees

53.6

67,198.0

22,012.2

189.6

7.4

89,044.6

20,877.1

73.0

1.9

99,677.3

25,432.2

57.3

89,453.4

110,002.1

125,168.7

Total revenue collected

% change over previous year

303,572.4

-11.1%

330,820.0

+9.0%

378,516.3

+14.4%