17) Chart 2 shows
Treasury receipts and expenditures prior to and during the war.
Taxpayers that already have treasury function issues on audit with the FTB may find this to be a favorable time to engage in settlement discussions with the FTB attorney who is handling the protest or seek to initiate settlement with the Settlement Bureau on the basis that all
treasury receipts cases now constitute factual disputes under section 25137.
As such,
Treasury receipts from fuel are under pressure.
Treasury receipts amounted to LL300 billion, LL29 billion higher than the January-May 2010 level, of which LL108 billion for the Independent Municipal Fund.
Debt service carrying charges remain low at 4%-6% of estimated 1998
treasury receipts.
Meanwhile the figures, obtained under Freedom of Information requests, come as AA figures show
Treasury receipts from fuel duty are on course to match last year's total despite the 20-month freeze on fuel duty.
The 17 percent and 19 percent growth in tax revenues and
treasury receipts, respectively, more than offset the 18 percent drop in non-tax revenues.
With the recession seeing a huge fall in
Treasury receipts from taxation and the Government ploughing billions into the ailing banking system, the national debt has risen to pounds 799bn, or 56.
The bulk of this belt-tightening is likely to come from public sector cuts, as increases in taxation - such as the new 50% top rate due to come in next year - would reduce
Treasury receipts in the long term by driving high-earners and businesses overseas, said the CEBR.
This would in turn reduce
Treasury receipts from Corporation Tax, which have so far increased by 14.
