Tax and Non-Tax Revenue Homework Help

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Government has a responsibility towards political, social and economic activities to maximize the social benefit of a nation.Government mobilizes resources towards the aforesaid activities by means of taxes imposed on public.They collect public revenue through taxes, administrative activities like fines, gifts, fees, and grants.

Tax and non-tax revenue assignment help further classifies the public revenue into

  • Tax revenue
  • Non-tax revenue

Tax revenue as defined by tax and non-tax revenue homework help states it as the most significant form of public revenue.We make compulsory payment of taxes to the government without expecting immediate direct benefit.It might or might not affect us, the tax-payer directly.

Let’s understand the characteristics of tax revenues:

  • Government collects tax as a compulsory payment. Refusal to pay tax is punishable by law.
  • There exist no quid pro quo between tax payer and public authorities designing and collecting the taxes.
  • You cannot claim any special benefit in lieu of tax payment.
  • It involves some sacrifice on the part of the tax payer.

Taxes can be direct or indirect depending on the nature of collection and tax-payer. Direct taxes are those like corporate tax, personal income tax, capital gains tax and wealth tax. Indirect taxes include customs duty, central excise duty on manufactured goods, value added tax and service tax or luxury taxes.

Tax and non-tax revenue homework help discuss at length about the non-tax revenue sources as well.

Fees

  • It is charged by public authorities for rendering service to citizens.
  • There is no compulsion of paying taxes however you must pay if you wish to avail these services.
  • For example, issuing government documents like passport, driving license, housing registrations, individuals have to pay a pre-determined fee to the public authorities.

Fines or penalties

  • Imposed and charged to the individual as a form of punishment for breaking law.
  • Compulsory payment without quid pro quo.

Surplus from public enterprises

  • Government has set up various public enterprises, most of which are profit making concern.
  • Profits and dividends earned from these enterprises are used for public welfare.

Special assessment for improvement levy

  • Special charge levied on certain members who are direct beneficiaries of a certain welfare activity of government.
  • A children park or a road construction increases the value of properties in and around that area.
  • Government may impose a special levy on property owners of that area who are the direct beneficiaries

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