Almost all countries obtain revenue from government revenues and public debt. Government revenue includes money that the government is not obligated to return to those who obtained it. Government lending, on the other hand, involves the government's obligation to return the money to the people from whom it was obtained. In this chapter, sources of public sector revenue, public sector borrowing, intergovernmental transfers and revenue administration will be discussed. Say no to plagiarism. Get a tailor-made essay on "Why Violent Video Games Shouldn't Be Banned"? Get an Original Essay The Financial Management System (FMS) distinguishes between two main types of government revenue: own-source revenue and transfers from other government subsectors. Own-source revenue is defined as revenue raised by a government through its own imposition of a tax, license, fee, or any other charge. Personal income taxes, consumption taxes and social insurance contributions are part of this group. On the other hand, a transfer from another government subsector is a sum of money received directly from another entity without direct taxation by the receiving entity. Meanwhile, transfer payments fall into two categories: general purpose, where no restriction is placed on their use, and specific purpose, where certain conditions must be met to be eligible for the transfer that govern their use. Equalization payments are classified in the general transfer category, while provincial government transfers to assist municipalities in managing and improving local road and bridge systems are classified in the specific transfer category (FMS. 2009). Personal income tax: These are general levies on individual income and unincorporated businesses, as well as special income taxes, such as the surtax that governments levy from time to time. Likewise, all proceeds from the capital gains tax of individuals and unincorporated businesses are included here. Corporate Income Tax - Includes federal, provincial and territorial taxes on taxable corporate profits. It also includes special taxes levied on company profits. Mining and logging taxes: These are specific taxes levied on the profits of natural resource-based industries. Taxes on payments to nonresidents: May include federal tax withheld at source on payments to nonresidents (both individuals and corporations) of dividends, interest, rents, royalties, amounts derived from trusts and estates, as well as withholdings on foreign insurance companies . Other income taxes - These income taxes, which do not fall under any of the other classifications..Consumption taxesSales tax - Proceeds from the federal goods and services tax (GST) and provincial retail sales taxes are recorded in this category. Taxes on alcoholic beverages - These are taxes levied on alcoholic beverages based on the volume of production. Tobacco Tax - These are special taxes such as excise duties, excise duties and specific provincial taxes on the production and sale of tobacco products. Amusement Tax - Includes tax revenue from admissions to theatres, cinemas, recreational, cultural or other entertainment activities, horse racing. tracks and casinos”. Gasoline and Fuel Taxes – Accounts for the proceeds of specific taxes on gasoline, aviation fuel and diesel fuel, and propane or other substances. Customs duties – Apply only at level.