The budget revenue item is a source of cash necessary for financing state activities. It consists of such elements: taxes, non-tax revenues and contributions to various state funds.
In accordance with modern legislation, budgets of various levels consist of both income and expenses. Moreover, all expenditure and revenue budget items are delimited. Budget revenue is generated by money that comes in irrevocable and free of charge order to various levels of government. Expenditure, as well as the revenue item of the budget, can be distributed based on their volume and inclusion in each specific type of budget.
Budget revenues are generated not only through tax and non-tax revenues, but also using various gratuitous transfers. Also, the revenue item of the budget for the current year includes the balance of the corresponding funds at its beginning.
The tax revenues include various taxes and fees provided by applicable law. Also, the fines and penalties applied are the source of filling. We must not forget about such additional revenues as repayment of tax loans, installments and deferrals in the field of taxation.
The budget revenue item in terms of non-tax revenues is formed from the results of the use of property (state or municipal); profit of budgetary organizations received from the provision of paid services; funds received through the application of civil, criminal and administrative liability measures (confiscations, fines, compensations). These sources include funds that were received in compensation for damage caused to Russia and its municipalities, as well as financial assistance received from budgets of other levels. This list may not include budget loans, loans, and other non-tax revenues.
The revenue items of the state budget in their structure differ from local budgets. So, its main sources include:
- income tax of business entities in accordance with applicable Russian legislation;
- personal income tax in accordance with the approved rates;
- VAT on goods manufactured in Russia;
- excise taxes on oil, ethyl alcohol, goods imported into Russia;
- registration fees and license fees;
- a single tax on imputed income for activities approved by the regulations in accordance with applicable law;
- tax on operations with securities;
- payment for the use of subsoil in accordance with the approved standards;
- payments for the use of the forest fund;
- payment for water used by business entities;
- land tax or rent for land in cities, towns, as well as agricultural land within the federal budget.
