Revenue (ETF 11)

A1A.8. 

Revenue (ETF 11) consists of all increases in net worth resulting from transactions. Revenue transactions have counterpart entries either in an increase in assets, or a decrease in liabilities, increasing net worth. This category is further classified into:

• taxation revenue (ETF 111);
• sales of goods and services (ETF 112);
• property income (ETF 113);
• other current revenue (ETF 114); and
• capital revenue (ETF 115).

A1A.9.

Taxation revenue (ETF 111) consists of compulsory, unrequited amounts receivable by government units from institutional units. Taxation revenue can be receivable in cash or in kind. It is considered to be unrequited because the government provides nothing directly to the individual unit in exchange for the payment. Governments may use the taxation revenue to provide goods or services to other units, either individually or collectively, or to the community as a whole. This category is further classified into:

• taxes on income (ETF 1111, TC, SDC);
• other current taxes (ETF 1112, TC, SDC);
• taxes on products (ETF 1113, TC, SDC);
• other taxes on production (ETF 1114, TC, SDC); and
• capital taxes (ETF 1115, TC, SDC).

A1A.10.

Taxes on income (ETF 1111, TC, SDC) consists of taxes on income, profits and capital gains which include taxes assessed on the actual or presumed incomes of institutional units. The relevant taxes classification (TC) codes are:

• personal income tax (TC 111, SDC);
• government health insurance levy (TC 112, SDC);
• mining withholding tax (TC 113, SDC);
• capital gains tax on individuals (TC 114, SDC);
• prescribed payments by individuals (TC 115, SDC);
• income and capital gains taxes levied on individuals not elsewhere classified (TC 119, SDC);
• company income tax (TC 121, SDC);
• income tax paid by superannuation funds (TC 122, SDC);
• capital gains taxes on enterprises (TC 123, SDC);
• prescribed payments by enterprises (TC 124, SDC);
• income and capital gains taxes levied on enterprises not elsewhere classified (TC 129, SDC);
• dividend withholding tax (TC 131, SDC);
• interest withholding tax (TC 132, SDC); and
• income taxes levied on non-residents not elsewhere classified (TC 139, SDC).

Includes:  Taxes assessed on holdings of property, land or real estate when these holdings are used as a basis for estimating the income of their owners; taxes on individual or household income such as personal income taxes and surtaxes; taxes on the income of the owners of unincorporated enterprises; income taxes on the income of family estates and trusts; taxes on the income of corporations such as corporate income taxes, corporate profits taxes and corporate surtaxes; taxes on the income of units such as partnerships, sole proprietorships and estates; taxes on capital gains (including capital gains distributions of investment funds) of persons or corporations that become payable during the current reporting period; taxes on winnings from lotteries or gambling; income taxes levied on non-residents; taxes on immovable property such as land, buildings and other structures that are levied on the basis of a presumed net income; taxes on the use of property for residence where the tax is payable by either proprietor or tenant and the amount payable is a function of the user’s personal circumstances such as net income or the number of dependents.

Excludes:   Taxes on the turnover of producers that organise gambling or lotteries (classified to taxes on products (ETF 113), taxes on gambling (TC 44), SDC).

A1A.11.

Other current taxes (ETF 1112, TC, SDC) consists of current taxes on capital and miscellaneous current taxes other than taxes on income, taxes on products and other taxes on production. Current taxes on capital consists of those taxes that are periodically payable on the property or net wealth of institutional units not used by them for production. Miscellaneous current taxes consists of various different kinds of taxes payable periodically. The relevant taxes classification (TC) codes are:

• fringe benefits tax (TC 116, SDC);
• stamp duty on vehicle registration (TC 511, SDC 913);
• heavy vehicle registration fees and taxes (TC 513, SDC 913);
• other vehicle registration fees and taxes (TC 514, SDC 913);
• motor vehicle taxes not elsewhere classified (TC 519, SDC 913); and
• departure tax (TC 533, SDC 913).

Includes:   Vehicle registration fees and taxes payable by persons or households; stamp duty on vehicle registration payable by persons or households; recurrent gross taxes on personal property, jewellery, cattle, other livestock, other particular items of property and external signs of wealth.

Excludes:   Drivers’ licences (classified to administrative fees (ETF 1122, COFOG-A, SDC); broadcasting listeners’ licences (classified to administrative fees (ETF 1122, COFOG-A, SDC); television viewers’ licences (classified to administrative fees (ETF 1122, COFOG-A, SDC).

A1A.12.

Taxes on products (ETF 1113, TC, SDC) consists of taxes that are levied as a product specific unit tax. These taxes are levied per unit of quantity or price per unit of goods and services produced, sold, imported, exported, transferred, leased or delivered. They may be a specific amount per unit of quantity measured either in terms of discrete units or continuous physical variable such as volume, weigh or time or they may be a specific percentage of the price per unit. The relevant taxes classification (TC) codes are:

• general taxes on provision of goods and services (TC 41, SDC);
• excises (TC 42, SDC);
• taxes on international trade (TC 43, SDC);
• taxes on gambling (TC 44, SDC);
• taxes on insurance (TC 45, SDC); and
• taxes on financial and capital transactions (TC 46, SDC).

Includes:   General taxes on provision of goods and services whether levied at manufacturer/producer, wholesale or retail level; value-added taxes; sales taxes; turnover and other general taxes on goods and services; excises; taxes on international trade; taxes on gambling; taxes on insurance; taxes on financial and capital transactions; taxes on the use of one’s own property for special trading purposes such as selling alcohol, tobacco or meat.

A1A.13.

Other taxes on production (ETF 1114, TC, SDC) consists of taxes on production other than taxes on products. These taxes are levied as a result of enterprises engaging in the production of goods and services and they are payable irrespective of the profitability of the production. They may be payable on the labour, fixed produced assets and land used in the production process.

The relevant taxes classification (TC) codes are:

• general payroll taxes (TC 211, SDC);
• superannuation guarantee charge (TC 221, SDC);
• other taxes on employers' payroll and labour force not elsewhere classified (TC 299, SDC);
• taxes on immovable property (TC 31, SDC);
• stamp duty on vehicle registration (TC 511, SDC other than SDC 913)
• road transport and maintenance taxes (TC 512, SDC);
• heavy vehicle registration fees and taxes (TC 513, SDC other than SDC 913);
• other vehicle registration fees and taxes (TC 514, SDC other than SDC 913);
• motor vehicle taxes not elsewhere classified (TC 519, SDC other than SDC 913);
• franchise taxes (TC 52, SDC);
• broadcasting station licences (TC 531, SDC);
• television station licenses (TC 532, SDC);
• departure tax (TC 533, SDC other than SDC 913);
• clean energy and related taxes (TC 534, SDC);
• taxes on the use of goods and performance of activities levied on non-residents (TC 535, SDC); and
• other taxes on the use of goods and performance of activities not elsewhere classified (TC 539, SDC).

Includes:   Taxes on employer’s payroll or workforce; taxes on the use or ownership of immovable property such as land, buildings and other structures; registration taxes on vehicles used by producers; road transport and maintenance taxes; franchise taxes; broadcasting station licences; television station licences; taxes on construction, enlargement or alteration of all buildings or those whose value or use density exceeds a certain threshold; taxes on exploitation of natural resources such as land and subsoil assets not owned by government units, including taxes on extraction and exploitation of minerals and other resources; payments for licences that allow the beneficiary to carry out the business of exploitation of land and subsoil assets.

Excludes:   Betterment levies (classified to capital taxes (ETF 1115, TC, SDC).

A1A.14.

Capital taxes (ETF 1115, TC, SDC) consists of capital levies and taxes on capital transfers. Capital levies are imposed at irregular and infrequent intervals on the value of assets or net worth owned by institutional units. Taxes on capital transfers are imposed at irregular and infrequent intervals on the value of assets transferred between institutional units as a result of legacies, gifts or other transfers. The relevant taxes classification (TC) codes are:

• estate, inheritance and gift taxes (TC 321, SDC).

Includes:    Betterment levies; estate, inheritance and gift taxes which covers taxes on transfers of property at death and on gifts, including gifts made between living members of the same family to avoid, or minimise the payment of inheritance taxes.

A1A.15.

Sales of goods and services (ETF 112) consists of revenue from the direct provision of goods and services by general government and public enterprises. This category is further classified into:

• sales by market establishments (ETF 1121, COFOG-A, SDC);
• administrative fees (ETF 1122, COFOG-A, SDC);
• incidental sales by non-market establishments (ETF 1123, COFOG-A, SDC); and
• imputed sales of goods and services (ETF 1124, COFOG-A, SDC).

A1A.16.

Sales by market establishments (ETF 1121, COFOG-A, SDC) consists of the sales by market establishments that are part of the units for which statistics are being compiled. An establishment is defined as part of an enterprise situated in a single location and at which only a single productive activity is carried out or principal productive activity accounts for most of the value added. A market establishment within a government unit is an establishment that sells or otherwise disposes of all or most of its output at prices that are economically significant.

Includes:    Rental income under operating leases for produced assets such as buildings, ships, aircraft, vehicles and entertainment, literary or artistic originals.

Excludes:   Sales of non-financial assets other than inventories (classified to disposals of non-financial assets (ETF 4211, TALC, COFOG-A, SDC)); rental income from the use of non-produced assets such as land, deposits of minerals and fossil fuels (classified to royalty income (ETF 1135, SDC)).

A1A.17.

Administrative fees (ETF 1122, COFOG-A, SDC) consists of fees for compulsory licences and other administrative fees that are sales of services. These fees are considered a sale of a service when issuing the licence or permit implies a proper regulatory function of the government.

Includes:    Drivers’ licences; court fees; radio and television licences when public authorities provide general broadcasting services; fees payable for voluntary participation in deposit insurance or other guarantee schemes that do not qualify to be a standardised guarantee scheme.

A1A.18.

Incidental sales by non-market establishments (ETF 1123, COFOG-A, SDC) consists of the sales of goods and services by non-market establishments of general government units other than administrative fees. These are sales incidental to the usual social or community activities of government departments and agencies.

Includes:   Sales of products made at vocational schools; seeds from experimental farms; postcards and art reproductions by museums; fees at government hospitals and clinics; tuition fees at government schools; admission fees to government museums, parks and cultural and recreational facilities that are not public corporations

A1A.19.

Imputed sales of goods and services (ETF 1124, COFOG-A, SDC) consists of imputed sales of goods and services when a government unit produces goods and services for the purpose of using them as compensation of employees in kind. In order to indicate the total amount paid as compensation of employees, it is necessary to treat the amount paid in kind as if it had been paid in cash as wages and salaries and then the employees had used this income to purchase the goods and services.

Includes:    Imputed sales of financial services where an employer incurs costs of operating a defined contribution pension scheme itself.

A1A.20.

Property income (ETF 113) consists of the revenue receivable in return for putting financial assets and natural resources at the disposal of other entities. This category is further classified into:

• interest income (ETF 1131, SDC);
• dividend income (including tax equivalents) (ETF 1132, SDC);
• withdrawals from income of quasi-corporations (ETF 1133, SDC);
• land rent income (ETF 1134, SDC);
• royalty income (ETF 1135, SDC);
• revenue from investment funds (ETF 1136, SDC);
• reinvested earnings on foreign direct investment (ETF 1137, SDC); and
• property income not elsewhere classified (ETF 1139, SDC).

A1A.21

Interest income (ETF 1131, SDC) consists of interest income which is a form of investment income that is receivable by the owners of certain kinds of financial assets, such as SDRs, deposits, debt securities, loans and accounts receivable, in return for putting these financial assets and other resources at the disposal of another institutional unit.

Includes:    Interest on advances to the private sector, public corporations, building societies and foreign governments; interest on bank account balances and fixed deposits held with banks, government securities, intra-sector deposits and short term money market balances; imputed interest that originates from interest foregone by employers when they provide loans to employees at reduced, or even zero rates of interest as part of the remuneration in kind of government and public sector employees; interest charged on overdue taxes, and financial intermediation services indirectly measured (FISIM) .

A1A.22.

Dividend income (including tax equivalents) (ETF 1132, SDC) consists of the distributed earnings allocated to government or public sector units, as the owners of equity, for placing funds at the disposal of corporations. Dividend income is generally not funded by sale of assets, capital restructure, borrowings or other credit arrangements.

Includes:   Dividends to public enterprises from subsidiaries; dividends from shares held as investments in private and public corporations; transfers of income from public non-financial corporations and public financial corporations; profits of central banks transferred to government units; profits transferred or distributed from the operation of monetary authority functions outside the central bank; profits transferred by state lotteries that compete with other privately organised lotteries; issue of shares as a dividend; income from public corporations to general government in the nature of income tax equivalents; income from public corporations to general government in the nature of wholesale sales tax equivalents.

Excludes:   Profits of fiscal monopolies (classified to taxes on products (ETF 1113, TC, SDC )); profits of export or import monopolies (classified to taxes on products (ETF 1113, TC, SDC)); dividends declared greatly in excess of the recent level of dividends and earnings (classified to transactions in financial assets (net) (ETF 3111), equity including contributed capital (TALC 424), SDC); interim dividends where evidence exists that such dividends are not from the current period’s operating surplus (classified to transactions in financial assets (net) (ETF 3111), advances other than concessional loans (TALC 433), SDC).

A1A.23.

Withdrawals from income of quasi-corporations (ETF 1133, SDC) consists of that part of distributable income that the owner withdraws from the quasi-corporation.

Excludes:   Withdrawals of funds realised from the sale or other disposal of the quasi-corporation’s assets such as inventories, fixed produced assets, land or other non-produced assets (classified to transactions in financial assets (net) (ETF 3111, equity including contributed capital (TALC 424), SDC); withdrawals of funds realised from the liquidation of large amounts of accumulated retained earnings or other reserves (classified to transactions in financial assets (net) (ETF 3111), equity including contributed capital (TALC 424), SDC).

A1A.24.

Land rent income (ETF 1134, SDC) consists of the revenue receivable by the owners of land (the lessor or landlord) for putting the asset at the disposal of another institutional unit (the lessee or tenant) for use in production.

Includes:    Land rent in the territories; leasing of crown lands; rent payable to general government sector units for the use of inland waters and rivers (for the right to exploit such waters for recreational or other purposes including fishing); rent payable to government sector units for the use of non-cultivated land (for the right to cut timber on such land); permits that allow timber felling in natural forests under strict limits with a fee payable per unit volume of timber felled to ensure the harvest of timber is sustainable.

Excludes:   Rent received for the use of buildings or other produced assets (classified to sales by market establishments (ETF 1121, COFOG-A, SDC)); payments made to the owners of natural forest where a unit is given permission to fell an area of natural forest, or to fell at its discretion without any restriction in perpetuity (classified to disposals of non-financial assets (ETF 4211, TALC, COFOG-A, SDC), non-cultivated biological resources (TALC 313), COFOG-A); payments made to the owners of forests that are produced assets, where a unit is given permission to fell an area of the forest, or to fell at its discretion without any restriction in perpetuity (classified to sales by market establishments (ETF 1121, COFOG-A, SDC)).

A1A.25.

Royalty income (ETF 1135, SDC) consists of the revenue receivable by the owners of a natural resource other than land (the lessor or landlord) for putting the natural resource at the disposal of another institutional unit (a lessee or tenant) for use of the natural resource in production.

Includes:   Off-shore petroleum, mineral royalties; timber royalties not relating to plantation and regrowth forests; payments to general government units in exchange for the right to undertake test drilling or otherwise investigate the existence and location of subsoil assets.

Excludes:   rental of produced assets (classified to sales by market establishments (ETF 1121, COFOG-A, SDC)); severance taxes imposed on the extraction of minerals and fossil fuels from reserves owned privately or by another government (classified to taxation revenue (ETF 1111, TC, SDC); payments for a licence or permit to conduct extraction operations (classified to taxation revenue (ETF 1111, TC, SDC) and taxes on the use of goods and performance of activities levied on non-residents (TC 535)) or other taxes on the use of goods and performance of activities not elsewhere classified (TC 539)).

A1A.26.

Revenue from investment funds (ETF 1136, SDC) consists of increases in the value of investment fund shares (other than from holding gains and after reinvested earnings are deducted) and retained earnings of foreign direct investment funds.

A1A.27.

Reinvested earnings on foreign direct investment (ETF 1137, SDC) consists of the direct investor’s share of the retained earnings of the direct investment enterprise. It is a requirement that the retained earnings of a foreign direct investment enterprise be recorded as if they were distributed and remitted to foreign direct investors in proportion to their ownership of the equity in the enterprise and then reinvested by them by means of additions to equity.

A1A.28.

Property income not elsewhere classified (ETF 1139, SDC) consists of property income that cannot be classified to interest income (ETF 1131, SDC), dividend income (including tax equivalents) (ETF 1132, SDC), withdrawals from income of quasi-corporations (ETF 1133, SDC), land rent income (ETF 1134, SDC), royalty income (ETF 1135, SDC), revenue from investment funds (ETF 1136, SDC) or reinvested earnings on foreign direct investment (ETF 1137, SDC).

A1A.29.

Other current revenue (ETF 114) consists of current revenue other than from taxation, sales of goods and services; property income, current grants and current transfers.

This category is further classified into:

• revenue from current grants and subsidies (ETF 1141, SDC);
• fines, penalties and forfeits (ETF 1142, SDC);
• premiums, fees and current claims related to non-life insurance and standardised guarantee schemes (ETF 1143, SDC); and
• other current revenue not elsewhere classified (ETF 1149, SDC).

A1A.30.

Revenue from current grants and subsidies (ETF 1141, SDC) consists of revenue from grants for current purposes, and subsidies for current purposes. Current grants are current transfers receivable by government units, from other resident or non-resident government units or international organisations and that do not meet the definition of a tax, subsidy or a social contribution. Grants are normally receivable in cash, but may also take the form of the receipt of goods or services (in kind). Subsidies are current, unrequited transfers that government units make to enterprises on the basis of the level of their production activities or the quantities or values of the goods or services they produce, sell, export or import. Where current grants and subsidies are subject to contractual arrangements, the amount accruing in a period is the amount over which the recipient has gained control.

Includes:    Grants in kind include goods and services that are consumed such as food contributions, blankets and medical and rescue services and supplies.

A1A.31.

Fines, penalties and forfeits (ETF 1142, SDC) consists of revenue from fines, penalties and forfeits. Fines and penalties are compulsory current transfers imposed on units by courts of law or quasi-judicial bodies for violations of laws or administrative rules. Forfeits are amounts that were deposited with a general government unit pending a legal or administrative proceeding and that have been transferred to the general government unit as part of the resolution of that proceeding.

Includes:    Out-of-court agreements; bail set by courts when bail conditions have been violated; fines and penalties charged on overdue taxes; and penalties imposed for the evasion of taxes.

Excludes:   Penalties imposed by tax authorities when it is not possible to separate payments of fines or other penalties from the taxes to which they relate (classified to the relevant category under taxation revenue (ETF 111); and penalties imposed by tax authorities that relate to unidentifiable taxes and that are not able to be separated from the taxes to which they relate (classified to other current taxes (ETF 1113, TC, SDC).

A1A.32.

Premiums, fees and current claims related to non-life insurance and standardised guarantee schemes (ETF 1143, SDC) consists of non-life insurance premiums receivable by insurance schemes to provide entitlement to insurance against risks; non-exceptional claims receivable from insurance schemes by beneficiaries; and fees receivable for the issuance of standardised guarantees.

A1A.33.

Other current revenue not elsewhere classified (ETF 1149, SDC) consists of current revenue that cannot be classified to revenue from current grants and subsidies (ETF 1141, SDC), fines, penalties and forfeits (ETF 1142, SDC) or premiums, fees and current claims related to non-life insurance and standardised guarantee schemes (ETF 1143, SDC).

Includes:    Revenue of local governments in lieu of municipal rates; conscience money; unclaimed money such as unclaimed lottery prizes; unclaimed TAB dividends; and unclaimed money in bank accounts.

A1A.34.

Capital revenue (ETF 115) consists of grants for capital purposes. This category is further classified into:

• revenue from capital grants (ETF 1151, SDC);
• assets acquired below market value (ETF 1152, TALC, COFOG-A, SDC);
• capital claims related to non-life insurance and standardised guarantee schemes (ETF 1153, SDC); and
• capital revenue not elsewhere classified (ETF 1159, SDC).

A1A.35.

Revenue from capital grants (ETF 1151, SDC) consists of revenue from grants for capital purposes. Capital grants are capital transfers receivable by government units, from other resident or non-resident government units or international organisations and that do not meet the definition of a tax, subsidy or a social contribution. Grants are normally receivable in cash, but may also take the form of the receipt of goods or services. Where capital grants are subject to contractual arrangements, the amount accruing in a period is the amount over which the recipient has gained control. A capital grant in kind necessarily concerns the change of ownership of a product previously recorded as a non-financial asset in the accounts of the donor government.

Includes:    Aid of a capital nature.

A1A.36.

Assets acquired below market value (ETF 1152, TALC, COFOG-A, SDC) consists of the capital grant received when capital assets are acquired below current market value or without cost. The capital grant is equal to the difference between the current market value and the acquisition cost of the asset. This type of acquisition is recorded by imputation of equivalent transactions when they are of an economic nature and where valuations are realistically obtainable.

A1A.37.

Capital claims related to non-life insurance and standardised guarantee schemes (ETF 1153, SDC) consists of exceptionally large insurance settlements receivable in the wake of a catastrophic event or disaster.

A1A.38.

Capital revenue not elsewhere classified (ETF 1159, SDC) consists of capital revenue that cannot be classified to revenue from capital grants (ETF 1151, SDC), assets acquired below market value (ETF 1152, TALC, COFOG-A, SDC) or capital claims related to non-life insurance and standardised guarantee schemes (ETF 1153, SDC).

Includes:   Transfers to sinking funds, capital levies from local government,

Excludes:   Insurance settlement payments receivable for damage to property of a capital nature (classified to capital claims related to non-life insurance and standardised guarantee schemes (ETF 1162)).