Government Finance Statistics Manual 2014

GFS and Other Macroeconomic Statistics 375

included in the primary income accounts, and

should be consistent with amounts reported in

GFS (GFS expense item 2815).

• Other primary income: In calculating other pri-
  mary income, linkages with the GFS data arise
  from the transactions with nonresidents related
  to subsidies (GFS revenue item 14411 and GFS ex-
  pense item 25) and rent (GFS revenue item 1415
  and GFS expense item 2814). Where informa-
  tion on such payments or receipts is provided in
  the underlying source data, these data should be
  consistent with the primary income account. Th e
  taxes on production and on imports reported in
  the balance of payments primary income account
  constitute the portion of these taxes collected
  from nonresidents and are the same tax catego-
  ries as the corresponding item in the SNA (D2 in
  SNA). Taxes on production and on imports are
  the sum of several detailed GFS tax categories:
  
  
  • Recurrent taxes on immovable property (GFS
    item 1131)
  
  
  • Recurrent taxes on net wealth (GFS item 1132)
  
  
  • Other recurrent taxes on property (GFS item
    1136)
  
  
  
  

5.3 Detailed Classifi cation of General Taxes on Goods and Services (1141)

1141)

• Excises (GFS item 1142)


• Profi ts of fi scal monopolies (GFS item 1143)


• Taxes on specifi c services (GFS item 1144)

Perform Activities (1145) 5.4 Detailed Classifi cation of Taxes on Use of Goods and on Permission to Use Goods or

goods or perform activities—Payable by pro-

ducers (GFS item 1145)

• Other taxes—Payable by business (GFS item
  1161).

A7.85 To allow consistency checks with the pri-
mary income account in the balance of payments,
these GFS tax categories need to be divided between
amounts receivable from residents and nonresidents.
Th ese subcategories are normally not available from
GFS, and would be useful only for deriving credits in
the primary income account. While certain taxes on
production and imports are easier to divide between
residents and nonresidents, others are more diffi cult.
Also, the portion attributable to nonresidents may
vary from one tax category to the next and from one
year to the next.

Th e secondary income account

A7.86 Th e secondary income account in the bal-

ance of payments shows current transfers between

residents and nonresidents. Th is account shows re-

distribution of income; that is, when resources for

current purposes are provided by one party without

anything of economic value being supplied as a direct

return to that party. Various types of current trans-

fers are recorded in this account to show their role in

the process of income distribution between econo-

mies. Th e extent to which governments are involved

in these transfers will determine the linkages between

the GFS Statement of Operations and this account.

A7.87 Th e standard components of the second-

ary income account make a distinction at the fi rst

level between current transfers receivable/payable by

general government and by other sectors, comprising

the fi nancial corporations, nonfi nancial corporations,

households, and NPISHs. For the general government,

these transfers include the transfers in respect of:

• Current taxes on income, wealth, etc.


• Social contributions


• Social benefi ts


• Net nonlife insurance premiums


• Nonlife insurance claims


• Current international cooperation


• Miscellaneous current transfers.
  A7.88 To the extent that the current transfers of
  general government are identifi able and reported
  in GFS as being from or to nonresidents, these data
  should be consistently reported in the secondary in-
  come account of the balance of payments.


• Current taxes on income, wealth, etc. reported
  in the secondary income account make up the
  nonresident portion of the same tax categories
  as in the 2008 SNA (D5 in SNA). Current taxes
  on income, wealth, etc. are the sum of several
  detailed tax categories as reported in GFS, and
  comprise taxes on income, profi ts and capital
  gains (GFS item 111) and several other tax cat-
  egories mainly payable by fi nal consumers (see
  paragraph A7.40).


• Social contributions (D61 in SNA) receivable
  from nonresidents by general government sector
  units or social benefi ts payable to nonresidents