Tax Revenue Government Definition

Meaning of tax revenue.

Tax revenue government definition. Government revenue or national revenue is money received by a government from taxes and non tax sources to enable it to undertake government expenditures. Total tax revenue as a percentage of gdp indicates the share of a country s output that is collected by the government through taxes. Tax revenue synonyms tax revenue pronunciation tax revenue translation english dictionary definition of tax revenue. Tax revenue definition of tax revenue by the free.

Information and translations of tax revenue in the most comprehensive dictionary definitions resource on the web. Government revenue as well as government spending are components of the government budget and important tools of the government s fiscal policy. It includes collections from income tax corporation tax customs wealth tax tax on land revenue etc. Direct tax is the tax that is paid directly to the government by the person or company on whom it is levied.

Taxes collected by government are used to provide common benefits to all mostly in the form of public welfare services. Seignorage is one of the ways a government can increase revenue by deflating the value of its. What does tax revenue mean. The tax burden is measured by taking the total tax revenues received as a percentage of gdp.

It can be regarded as one measure of the degree to which the government controls the economy s resources. Taxes are the first and foremost sources of public revenue. It is compulsory payments to the government without expecting direct benefit or return by the taxpayer. Taxes collected from both direct tax and indirect tax are the government s tax revenue.

Tax revenue government income due to taxation tax income taxation revenue government income government revenue income available to the. Tax revenue is the income that is gained by governments through taxation taxation is the primary source of government revenue revenue may be extracted from sources such as individuals public enterprises trade royalties on natural resources and or foreign aid an inefficient collection of taxes is greater in countries characterized by poverty a large agricultural sector and large amounts of.