Tax revenue what is

Two methods can be used:. An alternative classification of taxes may be made according to their economic function. The results are published in a report entitled 'Taxation trends in the European Union. Breakdown of taxes by economic function based on the sources mentioned above is as follows:.

Implicit tax rates measure the actual or effective tax burden levied on different types of economic income or activities that could potentially be taxed. They are computed as the ratio of total tax revenues of the specific economic category consumption, labour and capital to a proxy of the potential tax base defined using the production and income accounts of national accounts.

Show baseline: OAVG. Width: px Preview Embedding. Tax revenue Related topics Government. Latest publication Revenue Statistics Publication Indicators Tax revenue Tax on personal income Tax on corporate profits Social security contributions Tax on payroll Tax on property Tax on goods and services Tax wedge. My pinboard Add this view Go to pinboard. Equip revenue administrations with knowledge and tools to raise revenues in hard-to-tax sectors and reduce the size of the shadow economy.

Institute transfer pricing arrangements and mechanisms for resolving disputes between taxpayers and revenue administrations that secure a fair share of taxes on profits for developing countries, Vietnam being a recent example.

Expand the tax net to include the digital economy , informal sector and environmental damages. Build trust in the tax system by fighting tax evasion through early detection, smarter auditing, and effective investigation and prosecution that hold evaders accountable. Close wasteful loopholes and reduce unwarranted tax incentives for investors.

Depending on the nature of tax burdens in a given country, the World Bank Group can help governments improve competitiveness : Simplify taxes for small and medium-size enterprises — this also can help to address corruption. Institute e-filing to reduce the time and effort spent on filing.

Establish one-stop shops e. Create swift and fair dispute settlement mechanisms that instill confidence among investors. Ensure the predictability of tax policies and their administration, thus reducing corporate risks. Implement environmental tax designs that support competitiveness like consumption-based carbon taxes, border tax adjustment or output-based tax rebates.

The World Bank Group works with governments to create fair and equitable tax systems by reducing the adverse impact of the tax system on the poor, which may include helping to: Increase taxes on wealthy households through taxation of properties and capital gains. Use the tax system to provide incentives for better social outcomes, for example through tobacco and carbon taxation and smart earmarking of taxes to support social programs in education and health.

Description: Such practices can be resorted to by a government in times of economic or political uncertainty or even to portray an assertive stance misusing its independence. A government can resort to such practices by easily altering. The difference between total revenue and total expenditure of the government is termed as fiscal deficit. It is an indication of the total borrowings needed by the government.

While calculating the total revenue, borrowings are not included. Description: The gross fiscal deficit GFD is the excess of total expenditure including loans net of recovery over revenue receipts including external. Description: A bullish trend for a certain period of time indicates recovery of an economy. Non-Tax Revenue is the recurring income earned by the government from sources other than taxes.

Description: The most important receipts under this head are interest receipts received on loans given by the government to states, railways and others and dividends and profits received from public sector companies. Various services provided by the government -- police and defence, social.

Union excise duty is a type of indirect tax on goods manufactured in India. The burden of taxation is, however, passed on to the consumers by the manufacturer. When the rate of valuation is on ad valorem. Description: Capital markets help channelise surplus funds from savers to institutions which then invest them into productive use. Generally, this market trades mostly in long-term securities. It is so binding in itself that it doesn't allow the poor people to escape it.