IRD Collections
The Department’s revenue collection for 2019-20 was $303.6 billion, a decrease of $37.9 billion or 11.1% as compared with the previous year. Of the total revenue collected, Profits Tax and Stamp Duty together contributed 73.5%. The revenue collected by tax type for the latest three years is shown below:
Type of tax | 2017-18 ($m) |
2018-19 ($m) |
2019-20 ($m) |
|||
---|---|---|---|---|---|---|
Profits Tax Corporations Unincorporated Businesses Salaries Tax Property Tax Personal Assessment |
133,459.3
|
60,838.8 3,447.8 5,342.5 |
160,833.2
|
60,145.9 3,624.4 5,963.1 |
149,427.5
|
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 |
+13.2% |
+3.9% |
-11.1% |