STRUCTURES OF GOVERNMENT REVENUE
Public revenue refers to the total income that accrues to the government of a country from various sources.
Government needs enough revenue in order to enable it to carry out its numerous functions.
TYPES OF PUBLIC REVENUE
- Capital Revenue (or receipts): Capital receipts, also called irregular or extraordinary sources of revenue are sources of revenue used for meeting expenditure on heavy capital protects e.g. grants, loans etc.
- Recurrent Revenue: Recurrent revenue is a regular source of revenue. Recurrent revenue is income which is received on a regular or yearly basis e.g. taxation fee, license and interest on loans etc.
SOURCES OF GOVERNMENT REVENUE
- Grants and aids
- Money from government investments
- Issuing of license
- Rents and rates