Non-Tax Revenue


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Non-Tax Revenue

Money that a government takes in by means other than taxation. Examples of non-tax revenue include bond issues and profits from state-owned companies. Some government agencies earn non-tax revenue through user fees. For example, a bank regulator may charge the banks that it regulates some percentage of their assets for the privilege of being regulated. Some of these revenues are mandated, while others are offered as an incentive. For example, these banks may be incentivized to pay the fees in exchange for eligibility for deposit insurance.
References in periodicals archive ?
LAHORE -- Provincial Finance Minister Dr Ayesha Ghaus Pasha has said the matter of any harassment by public sector is needed to be eradicated in tax payments or non-tax revenue collection.
These two components had a combined share of 36pc in total non-tax revenue.
The Ministry of Economy and Finance held a workshop yesterday to finalise a draft on a sub-decree managing non-tax revenue sources, part of the government's attempt to improve its revenue collection.
A decline in revenue collections from the Goods and Services Tax (GST), and lower non-tax revenue have led to worry about government meeting the fiscal deficit target.
Tax revenue comprises 73% of the total net revenue while 27% comes from non-tax revenue.
With slippages on non-tax revenue and lower than targeted tax collections, the fiscal deficit over the recently concluded fiscal year has been estimated at higher than 4.
The rise in revenue was on an e1/489m increase in indirect taxes, including e1/462m in value added tax, and e1/427m in social security contributions, which more than offset a e1/43m drop in direct tax revenue and a decline in non-tax revenue by e1/446m, Cystat said.
About 53 percent of the proposed executive budget for next year will be funded by the Internal Revenue Allotment (IRA) share of the city while the remaining 47 percent will be taken from the projected income that the city will generate from its tax and non-tax revenue collections.
The incumbent government in the budget 2014-2015 had kept Rs 56 billion in non-tax revenue in the budget which was supposed to be fetched through the selling process of licenses.
Nigeria's non-tax revenue has been steadily growing over the years, but it is still some way from being able to cover the shortfall left in oil revenues.
810 trillion and non-tax revenue collection is estimated at Rs815 billion.
These heads are expected to be the largest non-tax revenue generators for the next fiscal year, commencing from July 1.