Where the Government gets most of its revenue from over the years: An interactive guide
Published on Feb 25, 2013 6:30 PM
More stamp duty and motor vehicle-related taxes allowed the Government's revenue for the 2012 fiscal year to exceed its initial estimate.
Its total revenue for 2012 was $55.18 billion, which is 3.9 per cent higher than its initial estimate of $53.08 billion.
The overall budget surplus was also boosted as a result, to $3.86 billion, compared to an initial estimate of $1.27 billion.
In his Budget speech on Monday, Deputy Prime Minister and Finance Minister Tharman Shanmugaratnam noted that the stamp duty and motor-vehicle tax increases were "short-term increases in revenues, which we cannot expect to be sustained".
As such, the Government is expecting slightly less revenue in the 2013 fiscal year.
Corporate income tax is estimated to remain the main contributor to the Government's revenue, at $12.94 billion.
Scroll down to the chart below to explore how key government revenue collections have changed over the years.
For more news and analysis on Singapore Budget 2013, click here for ST's Big Story coverage.