Top 5% Earners' Contribution to Total Income Tax for Years of Assessment 2021 to 2023

Mr Murali Pillai asked the Deputy Prime Minister and Minister for Finance for each of the Years of Assessment 2021, 2022 and 2023, what is the percentage of total income tax that was contributed by the top 5% earners.

Mr Lawrence Wong: Based on IRAS' personal income tax (PIT) data on all taxpayers, in the Years of Assessment 2021, 2022 and 2023, the top 5% earners contributed close to 70% of PIT collections.