Revenue 87
(reduction) in other accounts receivable (3208), should
be recorded. Th e amount of taxes and social insurance
contributions that is recorded as revenue should be
the amount that is realistically expected to be receiv-
able. Th e actual collection, however, may be in a later
period, possibly much later.
Th e Classifi cation of Revenue.
5.21 Revenue comprises heterogeneous elements,
classifi ed according to diff erent characteristics de-
pending on the type of revenue. For taxes, the clas-
sifi cation scheme is determined mainly by the base
on which the tax is levied. Revenue other than taxes
is classifi ed by the nature of the economic fl ow, and
in some cases by the source from which the revenue
is derived. Th e summary classifi cation of revenue in
the GFS framework is shown in Table 5.1, and the
remainder of this chapter describes each category in
detail.
5.22 While the summary GFS revenue classifi ca-
tion structure provides guidance on the minimum
requirements for internationally comparable classifi -
cations of revenue, analytical needs may necessitate
further detailed classifi cations to be added as sub items
in national data presentations. Additional subitems,
presented either as a comprehensive breakdown of the
standard item or as “of which” lines, could be used to
identify items required:
- To facilitate consolidation—for example, a break-
down of items according to the subsectors and
institutional units of general government (see
paragraph 3.152) - As input into other macroeconomic datasets to
enhance consistency with these data—for exam-
ple, a breakdown of interest to identify recipients
according to residence and sectors (see para-
graph 7.264) - To facilitate the calculation of supplementary ag-
gregates or balances used as fi scal indicators in
fi scal analysis—for example, identifying all rev-
enue related to a particular resource could allow
the calculation of government balances without
such resource revenue (see paragraph 4.59),
or identifying all environment-related revenue
and payments to government could facilitate
the compilation of environmental accounts (see
paragraph A7.107).
Taxes (11)
5.23 Taxes are compulsory, unrequited amounts
receivable by government units from institutional
units. In GFS, taxes are classifi ed mainly according
to the base on which the tax is levied. Normally, des-
ignating a tax for a particular use does not aff ect its
classifi cation. An exception is the distinction between
taxes on payroll and workforce and social security
contributions. If a tax on payroll or workforce is desig-
nated for use in a social security scheme, then it is clas-
sifi ed as a social security contribution (see paragraphs
5.45 and 5.96). Otherwise, it is classifi ed under taxes
on payroll and workforce. Taxes also exclude compul-
sory payments receivable by government, as contribu-
tions to employment-related pension schemes. Since
these compulsory contributions are associated with
the expectation of future benefi ts payable, they are not
tax revenue receivable, but rather recorded as the in-
currence of a pension entitlement liability (see para-
graphs 9.63–9.67).
5.24 In principle, interest charged on overdue taxes
or fi nes and penalties imposed for the attempted eva-
sion of taxes should be recorded as interest (1411),
or fi nes, penalties, and forfeits (143) and not as taxes.
However, it may not be possible to separate receiv-
ables of interest, fi nes, or other penalties from the
taxes to which they relate, so in practice they are usu-
ally grouped with the relevant tax receivable (see also
paragraph 6.82).GFS tax classifi cations in comparison with other statistical databases
5.25 Th e coverage, timing, and valuation of tax rev-
enue in GFS and the 2008 SNA are identical, but the
classifi cation systems diff er. Th e 2008 SNA classifi es
taxes according to their role in economic activities—
namely: (i) taxes on production and imports (D2);
(ii) current taxes on income, wealth, etc. (D5); and
(iii) capital taxes (D91). Th e result is that some cat-
egories of taxes in GFS need to be allocated between
two of the SNA tax categories according to whether
they are payable by producers or fi nal consumers, or
whether they are current or capital taxes.^10 In GFS,
taxes are classifi ed into six major categories: (i) taxes
on income, profi ts, and capital gains; (ii) taxes on(^10) For a detailed description of the linkages between the GFS and
the 2008 SNA categories of taxes, see Appendix 7.