Key Insight

From 2007 to 2022, Singapore experienced a consistent increase in the number of taxable companies and their total income, resulting in a significant growth in net tax assessed.  Conversely, the number of non-taxable companies also increased, but their total income remained consistently negative, indicating a substantial number of companies reporting losses. This trend suggests a dynamic and growing corporate landscape with a mix of successful and struggling businesses.

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Small Interesting Points of Note

The increase in donations reported by both taxable and non-taxable companies over time might be correlated to increased corporate social responsibility initiatives.  There's a noticeable difference in the number of companies assessed between taxable and non-taxable groups, with taxable companies showing more moderate growth compared to the rapid expansion of non-taxable companies.

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Methodology

• Data Source:  The provided JSON data from data.gov.sg API was used.
• Data Cleaning:  The 'na' values were ignored in the analysis. Note that this might lead to some information being lost in the final analysis.¹
• Analysis: Trends in the number of companies assessed, total income, donations, and net tax assessed were examined for both taxable and non-taxable groups across the years. Statistical summaries (min, max, avg) were not calculated due to the presence of non-numeric entries and a significant number of 'na' values.

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Footnotes

¹The analysis is limited by the exclusion of 'na' values. A more complete analysis would require imputation or alternative handling of missing data.