Analysis of Revenue and Expenditure(
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Revenue and Expenditure Estimates
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Overall Budget Balance
| Revised FY2015 | Estimated FY2016 | Change over Revised FY2015 |
| $billion | $billion | $billion | % change |
OPERATING REVENUE | 64.16 | 68.44 | 4.28 | 6.7 |
Corporate Income Tax | 13.85 | 13.41 | (0.43) | (3.1) |
Personal Income Tax | 9.13 | 10.13 | 1.00 | 10.9 |
Withholding Tax | 1.31 | 1.33 | 0.02 | 1.4 |
Statutory Boards’ Contributions | 0.43 | 1.88 | 1.45 | 333.0 |
Assets Taxes | 4.39 | 4.40 | 0.00 | 0.1 |
Customs and Excise Taxes | 2.56 | 2.91 | 0.35 | 13.6 |
Goods and Services Tax | 10.33 | 10.62 | 0.29 | 2.8 |
Motor Vehicle Taxes | 1.80 | 2.93 | 1.14 | 63.3 |
Vehicle Quota Premiums | 5.41 | 5.65 | 0.25 | 4.6 |
Betting Taxes | 2.71 | 2.72 | 0.01 | 0.4 |
Stamp Duty | 2.73 | 2.52 | (0.21) | (7.6) |
Other Taxes | 5.88 | 6.33 | 0.45 | 7.6 |
Other Fees and Charges | 3.29 | 3.32 | 0.02 | 0.7 |
Others | 0.35 | 0.30 | (0.05) | (14.3) |
Less: | | | | |
TOTAL EXPENDITURE1 | 68.41 | 73.43 | 5.02 | 7.3 |
Operating Expenditure | 48.73 | 54.43 | 5.70 | 11.7 |
Development Expenditure | 19.68 | 19.00 | (0.68) | (3.5) |
PRIMARY SURPLUS / DEFICIT2 | (4.25) | (4.99) | | |
Less: | | | | |
SPECIAL TRANSFERS3 | 10.54 | 6.27 | (4.27) | (40.5) |
Special Transfers Excluding Top-ups to Endowment and Trust Funds | 4.54 | 2.67 | | |
GST Voucher Special Payment4 | 0.32 | 0.28 | | |
Service and Conservancy Charges Rebates | 0.09 | 0.09 | | |
CPF Medisave Top-ups | 0.10 | 0.10 | | |
Productivity and Innovation Credit | 0.99 | 0.66 | | |
Productivity and Innovation Credit Bonus | 0.20 | 0.02 | | |
Temporary Employment Credit | 0.72 | 0.73 | | |
Wage Credit Scheme | 1.91 | 0.79 | | |
Other Transfers5 | 0.23 | 0.01 | | |
BASIC SURPLUS / DEFICIT4 | (8.78) | (7.66) | | |
Top-ups to Endowment and Trust Funds | 6.00 | 3.60 | | |
Special Employment Credit Fund | 0.50 | 1.10 | | |
National Research Fund | 1.00 | 1.50 | | |
National Productivity Fund | 1.50 | - | | |
Changi Airport Development Fund | 3.00 | 1.00 | | |
Add: | | | | |
NET INVESTMENT RETURNS CONTRIBUTION | 9.90 | 14.70 | 4.81 | 48.6 |
OVERALL BUDGET SURPLUS / DEFICIT5 | (4.88) | 3.45 | | |
Last updated on 24 Mar 2016