, he said, will amount to P201 billion.
The national government's tax and nontax revenues
will breach the P4-trillion mark by 2022, thanks to a boost from the additional revenues to be generated from the Duterte administration's comprehensive tax reform program.
Meanwhile, the overall collection of nontax revenues
remained subdued during Jul-Mar FY19 compared to last year despite higher collection in most of the categories.
The city may also use any available funds (state disbursements, interest earnings, all nontax revenues
) for debt service.
INDIA'S fiscal deficit at the end of February worked out to Rs 6.05 lakh crore, 113.4 per cent of the full year target for the 2016- 17 fiscal, mainly because of lower realisation on nontax revenues
Under this scenario, the IIF projected tax receipts to increase by 6.1 percent in 2016 to the equivalent of 12.8 percent of GDP, and for nontax revenues
to grow by 5.2 percent to 4.6 percent of GDP this year.
(2) Revenue losses (5.6 trillion won) + nontax revenues
from the Bank of Korea surplus (0.7 trillion won)
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 5.2 to 5.15 percent on Jan.
were 4.3% over the budgeted amount, reflecting the onetime receipt of $1.5 billion from Saudi Arabia for project development and $1.1 billion from the auction of the 3G/4G mobile telecommunications spectrum in the last quarter, as well as a large profit remittance from the State Bank of Pakistan (the central bank).
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.