What is non-tax revenue give any two examples?
Non-tax revenue or non-tax receipts are government revenue not generated from taxes. For example – bond issues and profits of state-owned companies.
Which is an example of a non tax receipt?
The estimates of Non-Tax Revenue receipts from various sources such as return on assets in form of dividend and profits, interest, fees, fines and miscellaneous receipts collected in the exercise of sovereign functions, regulatory charges and license fees and user charges for publicly provided goods and services. 1.01.
Which is not non-tax revenue?
The revenue receipts that are not generated by public taxing is called non-tax revenue receipts. This is the money that the government earns as profits and dividends from making a profit through public enterprises. The interest that the government earns on the money lend by it’s internal or external borrowers.
What is the main component of the non-tax revenue?
Income from sources other than taxes is called non-tax revenue. It arises on account of administrative function of the government. These are incomes which the government gets in the form of interest, dividend, profit, fees, fines and external grants as explained below.
What are the two sources of public revenue?
Taxes, taxes, the selling of public goods and services, fines, contributions, and many more are said to be the sources of public revenue. Also, tax and non-tax income are major sources of public revenue.
What is an example of an indirect tax?
Sales tax, excise tax, value-added tax (VAT), and goods and services tax (GST) are examples of indirect taxes that are applied to the sale of goods and services.
Which is not a direct tax?
Income tax, gift tax, wealth tax, and property tax are all instances of direct taxes. Only indirect taxes such as sales tax, excise duty, and customs duty would be eliminated under the Goods and Services Tax (GST). Direct taxes will not be affected in any way.
Is export duty a non-tax revenue?
Export duty. Import duty. Dividends.
What are the 5 major sources of revenue for the government?
In accordance with this system, the revenue of the central government includes tariff, consumption tax and value added tax levied by the customs, consumption tax, income tax of the enterprises subordinate to the central government, income taxes of the local banks, foreign-funded banks and non-bank financial …
Is GST a non-tax revenue receipts?
Indirect taxes are those that are collected by intermediaries from individuals and corporations who bear the burden of the tax and passed on to the government. Goods and Services Tax (GST) is an example of indirect tax. Corporation tax forms a large chunk of the government’s tax revenue.
What is direct tax and example?
Definition: Direct tax is a type of tax where the incidence and impact of taxation fall on the same entity. … These are largely taxes on income or wealth. Income tax, corporation tax, property tax, inheritance tax and gift tax are examples of direct tax.