Singapore Betting Tax Revenue Rises 12% To US$2.8 Billion

The total amount of Singapore’s betting tax collection, including gambling duties and casino tax, rose by 11.9% year-on-year to SGD3.6 billion (US$2.8 billion) for the fiscal year ending March 31, 2026.

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This is contained in the recent annual report of the Inland Revenue Authority of Singapore. This period is referred to as fiscal year 2025 by the Inland Revenue Authority of Singapore.

This marks a significant rise from 1.7% growth in betting tax collection that was recorded in the preceding fiscal year at SGD3.2 billion. The growth in betting tax receipts in the amount of 11.9% represents a considerable jump from the 1.7% growth in the previous fiscal year. The SGD3.6 billion receipts in fiscal year 2025 were up against SGD3.2 billion in the previous period.

Share Of Total Tax Revenue

The contribution of betting taxes to Singapore’s overall tax take remained broadly stable despite the amount collected increasing at a double-digit rate.

Betting taxes represented 3.7% of the SGD97.3 billion in total tax revenue collected by IRAS in the 12 months to March 31. That compared with approximately 3.6% of the SGD88.9 billion collected a year earlier.

IRAS does not provide separate collection figures for casino tax and other gambling duties within the betting-tax category.

Casino Operators In Singapore

Singapore has 2 casino complexes: Marina Bay Sands, operated by a unit of United States-based Las Vegas Sands Corp, and Resorts World Sentosa, run by Genting Singapore Ltd.

Overall Tax Collection Growth

Overall tax collection increased by 9.4% year-on-year in the fiscal year ended on March 31. IRAS attributed the growth across all tax categories to increased economic activity and consumer spending during the period.

Corporate income tax was the largest source of revenue, at SGD34.4 billion, or 35.4% of total tax collection. Goods and services tax contributed SGD21.7 billion, while individual income tax generated SGD20.9 billion.

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Betting taxes were the second-smallest main category reported by IRAS, ahead only of withholding tax, which generated SGD2.5 billion.

Revenue And GDP Contribution

The SGD97.3 billion collected by the authority in the latest fiscal year represented 74.8% of the Singapore government’s operating revenue and was equivalent to 12.3% of the city-state’s gross domestic product, according to the report.

IRAS Commissioner’s Message

IRAS commissioner Ow Fook Chuen said fiscal year 2025 was a strong and pivotal year for the organisation. He noted that the authority collected SGD97.3 billion in revenue, sustaining high efficiency with a cost of collection of 0.63 cents per dollar and keeping tax arrears low at 0.64% of net tax assessed.

Beyond tax collection, Ow said IRAS processed close to SGD1.2 billion of disbursements to support businesses and jobs. The disbursements formed part of the authority’s wider role in administering tax revenue and supporting economic activity.

Betting Tax Trends

Betting taxes remained a small but stable component of Singapore’s overall tax revenue. The 3.7% share of total tax collection was similar to the 3.6% recorded a year earlier, despite the higher absolute amount collected.

Reporting And Data Limitations

IRAS does not break out casino tax and other gambling duties within the betting-tax category. The combined figure covers both casino tax and other gambling duties without further detail.

The latest annual report provides the total betting-tax collection, the share of overall tax revenue, and the context of Singapore’s broader tax performance in fiscal year 2025.

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Source: GGR Asia