SINGAPORE: Singapore’s tax revenue rose 9.4 per cent from the previous year to a total of S$97.3 billion (US$76.8 billion) in the 2025/2026 financial year, according to official data released on Friday (Sep 4).In its annual report, the Inland Revenue Authority of Singapore (IRAS) attributed the rise in tax revenue to “stronger economic activity and consumer spending”.The total tax revenue collected accounts for 74.8 per cent of the government’s operating revenue and 12.3 per cent of Singapore’s GDP.“Tax revenue remains a key contributor to Singapore’s nation‑building efforts. It enables us to build strong and inclusive communities, enhance public services and infrastructure, and support sustainable economic growth,” IRAS said.The arrears rate for Goods and Services Tax (GST) as well as income and property taxes remained low at 0.64 per cent of net tax assessed, indicating “both the strong commitment of taxpayers and effective enforcement to uphold compliance”.While tax compliance remains high, IRAS added, it will continue to take "firm action" against those who wilfully evade tax.In FY2025/26, IRAS audited and investigated 8,560 cases, recovering about S$589 million in taxes and penalties.