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Tax revenue Meaning: Definition, Examples, and Translations

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tax revenue

[tรฆks หˆrษ›vษ™หŒnjuห ]

Definition

Context #1 | Noun

government finance

Tax revenue refers to the income that governments receive from taxation. It is a crucial source of funding for public services and government operations.

Synonyms

fiscal income, revenue from taxation, tax income.

Which Synonym Should You Choose?

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Word Description / Examples
tax revenue

Used in formal discussions about government finances, especially when detailed financial data or policies are considered.

  • The government's tax revenue increased by 10% this year.
  • Tax revenue is critical for funding public services.
tax income

Less formal, can be used in everyday conversation or less formal reports about government financial matters.

  • The new policy is expected to boost tax income.
  • Tax income is projected to grow in the next quarter.
revenue from taxation

Commonly used in general conversations or reports to explain where the governmentโ€™s income is coming from, often in a descriptive manner.

  • Revenue from taxation is essential for building infrastructure.
  • They discussed how changes in tax laws could affect revenue from taxation.
fiscal income

Mostly used in technical or academic discussions related to a government's income and overall fiscal policy.

  • The fiscal income report shows a significant increase in government earnings.
  • Fiscal income needs to be managed carefully to ensure sustainable economic growth.

Examples of usage

  • Tax revenue is used to finance public schools and infrastructure projects.
  • The government relies on tax revenue to provide healthcare services to its citizens.

Translations

To see the translation, please select a language from the options available.

Interesting Facts

History

  • The first recorded tax system dates back to ancient Egypt, where a portion of farm produce was paid to the pharaoh.
  • In ancient Greece, a tax called 'leitourgรญa' was a public service duty, often to fund theater productions or public festivals.

Economics

  • Tax revenue is crucial for funding government services, such as healthcare, education, and infrastructure.
  • Different types of taxes include income tax, sales tax, and property tax, each targeting different sources for revenue.

Global Perspectives

  • Countries around the world have diverse tax systems; for instance, Scandinavian nations often have higher tax rates but provide extensive social services.
  • In some parts of the world, tax evasion is a significant issue, leading governments to lose billions in potential revenue each year.

Social Impact

  • Tax revenue plays a crucial role in reducing inequality, as it funds programs that help the less fortunate.
  • In many democracies, how tax revenue is spent is a subject of political debate, influencing elections and governance.

Origin of 'tax revenue'

Main points about word origin

  • The word 'tax' comes from the Latin word 'taxare', which means to assess or evaluate.
  • The term 'revenue' has roots in the Old French word 'revenu', meaning income returned or profit.

The concept of tax revenue dates back to ancient civilizations where rulers collected taxes from their subjects to fund various government activities. Over time, tax systems have evolved to become more complex, with different types of taxes and regulations in place to ensure a steady flow of revenue to the government.