IRAS Gallery

The Singapore Tax Story

Audio Guide
BROADENING THE BASE
1992
Taxpayer-centred tax administration

New Tax Department, New Tax
IRAS was established as a statutory board in 1992. In 1994, the Goods and Services Tax (GST) was introduced at 3% to enable the Government to cut personal and corporate income taxes, thereby encouraging entrepreneurship and savings.

After 2000, the needs of a maturing economy led to the restructuring of the tax system and a shift to indirect taxation. Such a shift allowed for substantial reductions in personal income tax and corporate income while GST was increased gradually to 4% in 2003, 5% in 2004 and to 7% in 2007.
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Learn more about the
beginnings of IRAS
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Learn more about how
the GST battle was won