IRD Collections

The Department’s revenue collection for 2017-18 was $328.6 billion, an increase of $38.4 billion or 13.3% as compared with the previous year. Of the total revenue collected, Profits Tax and Stamp Duty together contributed 71.3%. 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 2014-2015($m). The third column is 2015-2016($m). The fourth column is 2016-2017($m).

Type of tax

2015-16
($m)

2016-17
($m)

2017-18
($m)

Profits Tax

Corporations

Unincorporated Businesses

Salaries Tax

Property Tax

Personal Assessment

135,574.0

4,652.6

140,226.6

57,867.8

2,998.0

4,790.0

134,031.3

5,206.8

139,238.1

59,077.5

3,371.7

5,220.0

133,459.6

5,640.9

139,100.5

60,838.8

3,447.8

5,342.9

Total Earnings and Profits Tax

205,882.4

206,907.3

208,730.0

Estate Duty

Stamp Duty

Betting Duty

Business Registration Fees

30.0

62,680.3

20,127.2

2,607.1

18.8

61,899.0

21,119.0

227.7

31.3

95,172.8

21,959.1

2,726.7

85,444.6

83,264.5

119,889.9

Total revenue collected

% change over previous year

291,327.0

-3.5%

290,171.8

-0.4%

328,619.9

+13.3%