Changes from the GFSM 2001 and GFSM 1986 265
collected by general government are clarifi ed in para-
graph 5.39.
A1.50 Th e GFSM 2001 tax category for taxes on
fi nancial and capital transactions (1134) is moved
from property taxes (113) to general taxes on goods
and services (1141). In the GFSM 2014, this tax cat-
egory retains its name, but with a diff erent classifi -
cation code—namely, taxes on fi nancial and capital
transactions (11414) (see paragraphs 5.52 and 5.61).
Th is change aligns the GFSM 2014 with the 2008 SNA,
which regards this tax as a tax on the sale rather than
on the property itself. To maintain consistency with
codes used in the GFSM 2001, the codes in taxes on
property do not follow directly.
A1.51 A new defi nition for excises is introduced in
paragraph 5.62.
A1.52 Th e concept profi ts on fi scal monopolies
(1143) is clarifi ed, and its application to public enter-
prises, lotteries, and other gambling activities is elabo-
rated on (see paragraphs 5.63–5.68).
A1.53 Th e coverage of taxes on specifi c services is ex-
tended to include the implicit taxes that result from the
central bank imposing a rate of interest other than the
market rates (see paragraphs 5.70 and 6.89, Box 6.2).
A1.54 Th e coverage of taxes on use of goods and on
permission to use goods or perform activities (1145) is
clarifi ed (see paragraph 5.72). Boundaries of this tax
with administrative fees (paragraph 5.73), taxes on
business activities (see paragraph 5.76), other tax cat-
egories (see paragraph 5.77), and the acquisition or use
of an asset (see paragraph 5.78) are explained.
A1.55 Taxes on use of goods and on permission to
use goods or perform activities (1145) are subdivided
into motor vehicle taxes (11451) and other taxes on the
use of goods and on the permission to use goods or per-
form activities (11452). For the latter, the GFSM 2014
introduces several subcategories of taxes to clarify
their classifi cation (see paragraph 5.81 and Table 5.4).
Furthermore, the accrual recording of business li-
censes and taxes on pollution (such as emission trad-
ing schemes) is elaborated on (see paragraph 5.81).
A1.56 Th e implicit taxes or subsidies created by
multiple exchange rate regimes are introduced in
paragraph 5.89. Furthermore, it is clarifi ed that lump-
sum payments receivable by government from mon-
etary authorities should be disaggregated according to
the economic nature of the components of the pay-
ment (see paragraph 5.90).
A1.57 Th e concept social contributions (12) is
clarifi ed (see paragraph 5.94), specifi cally making a
distinction between voluntary and compulsory con-
tributions, describing the fl exibility arrangement for
the recording of social contributions used in the 2008
SNA (see paragraph 5.95), and presenting the bound-
ary between social contributions and other categories
of taxes (see paragraph 5.96).
A1.58 Th e treatment of grants is elaborated on,
specifi cally describing the distinction between cur-
rent and capital grants, grants in kind, and the time
of recording in an accrual and cash basis of recording
(see paragraph 5.103–5.105).
A1.59 Th e time of recording dividends when using
an accrual basis of recording is clarifi ed to be when the
equity or shares go ex-dividend (see paragraphs 3.87,
5.112, and 6.109). In addition, it is clarifi ed that legally
constituted corporations, reclassifi ed to be a general
government unit, could also distribute dividends
(see paragraph 5.113). Th e treatment of dispropor-
tionately large dividends is clarifi ed (see paragraphs
5.115–5.116).
A1.60 Th e coverage of property income from in-
vestment income disbursements (1414) is expanded to
include distributions to holders of investment fund
shares or units (see paragraph 5.120).
A1.61 Th e concept rent (1415) is elaborated on
to explain the distinction between a resource lease,
the creation of an asset, contracts, leases, and licenses
(31441), or the sale of the resource. Two types of re-
source rent, for land and subsoil assets, are described
in detail and the boundary with the rental of produced
assets is explained (see paragraphs 5.124–5.133).
A1.62 Th e GFSM 2014 assumes the 2008 SNA and
BPM6 treatment of reinvested earnings on foreign di-
rect investment (1416) (see paragraphs 5.134–5.135
and 6.121).
A1.63 Th e classifi cation of administrative fees (1422)
is clarifi ed to include fees payable for voluntary par-
ticipation in deposit insurance or other guarantee
schemes that do not qualify to be a standardized
guarantee scheme. For it to be administrative fees, the
amount payable should be in proportion to the cost of
producing the service (see paragraph 5.138).