Key Insight

Government operating revenue and IRAS collections have demonstrated a consistent upward trend from 2002 to 2023, with notable fluctuations in certain years.  Total government operating revenue has more than quadrupled, while IRAS collections have nearly quintupled. The year 2020 shows a dip likely reflecting the economic impact of the COVID-19 pandemic, indicating a significant vulnerability of government revenue streams to economic downturns.  The subsequent years show a strong recovery and continued growth.

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Small Interesting Points of Note

The growth rate is not uniform across all years; some years show a sharper increase than others.  The ratio between total government operating revenue and IRAS collections has also shifted over the years, which would be interesting to explore further.

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Methodology

• Data was extracted from the provided JSON API response from data.gov.sg.
• Numerical values representing "total_gov_operating_rev" and "iras_collection" were converted to integers for analysis.
• Trends were visually observed and statistically confirmed by assessing yearly percentage changes in revenue and collection amounts.
• The year 2020 was identified as an anomaly due to a significant drop in both metrics and contextually linked to the impact of the COVID-19 pandemic.

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Footnotes

No footnotes needed for this report.