Write any 6 differences between tax revenue and non tax revenue
Answers
Sources of Income:
Taxation is the primary source of income for a state. States institute taxes on the income that residents of the state receive through the money earned from employment and entrepreneurial endeavors. Thus, the government sets an amount that an individual has to give the government based on how much he or she has earned from wages throughout the year, family size, charitable contributions, and exemptions.
Answer and Explanation:
Tax revenue is the income gained by the government through taxation, or taxing working individuals. Non-tax revenue is income that the government makes from sources other than taxes, like bonds or issued profits from state-owned companies. The difference between the two is that one is solely from taxation paid by tax-payers (tax revenue), and the other is generated from items other than regular taxes (non-tax revenue).