Singapore—Taxes on Goods & Services (% of revenue)
Singapore's taxes on goods & services (% of revenue) was 21.5% in 2024, ranking #109 out of 139 countries. This represents a +5.1% change from 2023. Over the past 25 years, the highest recorded value was 26.2% (2009) and the lowest was 18.0% (2000). Data sourced from the World Bank World Development Indicators.
Historical Data
| Year | Value | Change |
|---|---|---|
| 2024 | 21.5% | +5.1% |
| 2023 | 20.4% | +1.2% |
| 2022 | 20.2% | -3.1% |
| 2021 | 20.8% | +1.9% |
| 2020 | 20.4% | +12.8% |
| 2019 | 18.1% | -14.1% |
| 2018 | 21.1% | +6.6% |
| 2017 | 19.8% | -13.6% |
| 2016 | 22.9% | -1.2% |
| 2015 | 23.2% | -1.7% |
| 2014 | 23.6% | -0.6% |
| 2013 | 23.7% | -0.0% |
| 2012 | 23.7% | -6.1% |
| 2011 | 25.3% | -3.6% |
| 2010 | 26.2% | -0.0% |
| 2009 | 26.2% | +20.6% |
| 2008 | 21.7% | -6.5% |
| 2007 | 23.3% | +4.7% |
| 2006 | 22.2% | -5.1% |
| 2005 | 23.4% | -1.0% |
| 2004 | 23.6% | -4.5% |
| 2003 | 24.8% | +33.6% |
| 2002 | 18.5% | +0.6% |
| 2001 | 18.4% | +2.1% |
| 2000 | 18.0% |
Top Countries — Taxes on Goods & Services (% of revenue)
| # | Country | Value | Year |
|---|---|---|---|
| 1 | Macao SAR, China | 71.7% | 2023 |
| 2 | Bahamas, The | 57.1% | 2023 |
| 3 | Lao PDR | 53.9% | 2022 |
| 4 | Mauritius | 53.3% | 2024 |
| 5 | Guatemala | 51.5% | 2023 |
| 6 | Armenia | 48.2% | 2024 |
| 7 | Dominican Republic | 47.9% | 2024 |
| 8 | Croatia | 47.1% | 2023 |
| 9 | Nicaragua | 46.5% | 2023 |
| 10 | Burundi | 46.4% | 2021 |
About This Indicator
Definition
General taxes on goods and services are taxes levied on the production, leasing, delivery, sale, purchase or other change of ownership of a wide range of goods and the provision of a wide range of services. This indicator is expressed as a percentage of revenue which includes all transactions that add to the amount of economic value of a unit or sector.
Methodology
Data compiled by Government Finance Statistics Yearbook and data files, International Monetary Fund (IMF).