Government Revenue Definition Pdf

Topic 4 government revenue pdf.

Government revenue definition pdf. However flows of funds between these entities are considered internal transfers and are excluded by definition from revenue totals. Revenue and its components 5 1 revenue is an increase in net worth resulting from a transaction. For general government units there are four main sources of revenue. Local government revenue is conditioned by economic demographic political and technological factors 17.

On the other hand public receipts include all the incomes of the government received from formal sources. Sources of government revenue 1 1 government revenue is the aggregate of operating revenue1 and capital revenue2. Major sources of government revenue research office legislative council secretariat fs03 14 15 1. Revenue this chapter defines the concept of revenue and describes its classification.

4 1 revenue definition revenue is defined as all amounts of money received by a government from external sources i e those originating from outside the government net of refunds and other correcting transactions proceeds from issuance of debt the sale of investments agency or private trust transactions and intragovernmental. They are the charges imposed on persons as a punishment for contravention of a law. Aggregate statistics for an individual government reflect the revenue of the parent government and all of its dependent agencies chaudhry and munir 2010. The government also earns revenue from the production of commodities like steel oil life saving drugs etc.

The main purpose of these is not to raise revenue from the public but to force them to follow law and order of the country. In fy2015 2016 the government revenue is forecast to edge down by 0 2 to hk 477 6 billion and 15 of this forecast revenue amounting to. Public revenue includes income from taxes and goods and services of public enterprises revenue from administrative activities such as fees fines etc. And gifts and grants.

Taxes and other compulsory transfers imposed by government. The sources of public revenue have been broadly divided into. Taking into account the correlation of the revenue volume with the economic trends.