Revenue Accounts Of The Government
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Revenue accounts of the government. In fiscal year fy 2021 income taxes will account for 50 payroll taxes make up 36 and corporate taxes supply 7. These receipts include tax revenues and other revenues of the government. Most of it is paid either through income taxes or payroll taxes. Federal tax revenue is the total tax receipts received by the federal government each year.
This presentation is commonly called the government finance statistics presentation gfs. This alternative presentation to the national accounts sequence of accounts at the core of which is the harmonised definition of total revenue and total expenditure is in many ways better suited to the particular analytical requirements of fiscal analysts.
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