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Purpose of the classification

The TC is used to classify in detail all transactions which have been classified by the ETF as revenue. It therefore provides a supplementary dissection of these transactions according to the type of tax revenue collected by governments.

Structure of the classification

The TC has a hierarchical structure consisting of Groups, Subgroups and Classes. The Groups represent the 'base’ upon which taxes are levied, following substantially the OECD tax classification. The groups are:

• Taxes on income, profits and capital gains;

• Taxes on employers' payrolls and labour force;

• Taxes on property;

• Taxes on provision of goods and services; and

• Taxes on use of goods and performance of activities.