For nontax revenues
, BTr income registered a full-year total of P99.
4 per cent of the full year target for the 2016- 17 fiscal, mainly because of lower realisation on nontax revenues
8 percent of GDP, and for nontax revenues
to grow by 5.
6 trillion won) + nontax revenues
from the Bank of Korea surplus (0.
MTF's estimate includes $288 million in revenue exposure, meaning lower-than-expected tax and nontax revenues
, as well as a $70 million hit from a reduction in the income tax rate, due to ease from 5.
The improvement was mainly from a significant increase in nontax revenues
and a provincial cash surplus of 0.
According to OECD estimates, total government revenues from all tax and nontax revenues
at all levels of government peaked at about 45 per cent of GDP in the late 1990s, slightly above the OECD median.
The loss of nontax revenues
related to the closure of the Manas Transit Center in 2014 will create headwinds for the fiscal consolidation that is needed to reduce vulnerabilities, rebuild policy buffers, and ensure macroeconomic stability and debt sustainability," Mr.
Such expansions will likely be significantly pursued by governments seeking not only greater deterrence of bad acts but also new nontax revenues
Studies have shown, however, that in such instances tax authorities have shifted the burden to other taxes, such as the income tax, or to nontax revenues
, such as fees and fines (Galles and Sexton, "A Tale of Two Tax Jurisdictions: The Surprising Effects of California's Proposition 13 and Massachusetts' Proposition 2 1/2," 57(2) Am.
However, tax and nontax revenues
are projected to rise from 55.
With nontax revenues
constituting a large share of the budget, that debate does not take place, and no local official is put in the position of having to choose between the two.