0
Revenue is generally considered the same as income made by a person or business while a tax is a governments portion of your revenue that it legally requires persons or businesses to pay to support the government in order to supply services. A person or business does not have the right or legal authority to tax anyone unless given such right by legal contract. The first case that comes to mind would be in the case of a homeowners association contractually given the right by the homeowner to levy a form of tax or dues based on some manner such as road frontage. This would be done at the time the homeowner or business purchases the property.
Wiki User
∙ 8y ago
Wiki User
∙ 8y agoThere is no real difference - just semantics.
Add your answer:
Earn +20 pts
What is the difference between a revenue center and a support center?
what is the difference between revenue center and suport center
What is the difference between Cost of revenue and revenue?
m mnmk
Difference between tax revenue and non tax revenue?
Tax Revenue:Taxes are the first and foremost sources of public revenue. Taxes are compulsory payments to government without expecting direct benefit or return by the tax payer. Taxes collected by Government are used to provide common benefits to all mostly in form of public welfare services. Taxes do not guarantee any direct benefit for person who pays the tax. It is not based on direct quid pro quo principle. Non-Tax RevenueThe revenue obtained by the government from sources other then tax is called Non-Tax Revenue.
In accounting profit is the difference between what?
difference between revenue and costs
The difference between revenue from sales and cost of goods sold?
Difference between revenue from sales and cost of goods sold is called "Gross profit".
The difference between turnover and revenue?
In U.K. "turnover" is what U.S. calls "revenue"
What does the Laffer curve show?
The laffer curve shows that there is a level of taxation at which government revenue is maximised. It assumes that government revenue will be zero if tax rate is 100% since nobody would work and assumes that if tax rate was zero then government would receive no revenue. As such it is logical to assume that there must be a tax rate between 0 and 100 which would maximise government revenueThe Laffer curve is a graph in economics that shows the relationship between the federal tax rate, and total government revenue. If the y-axis is government revenue, and the x-axis is tax rate, the graph appears to be an upside down parabola; however, if the x-axis is govt. tax revenue, and the y-axis is tax rate, the graph is a sideways, parabolic non-function. Either way, at a tax rate of 100%, there is $0 in revenue, and at a tax rate of 0%, there is also $0 in revenue. It illustrates that at a certain tax rate, govt. revenue is maximized.
The positive difference between revenue and costs?
Profitability
What is the difference between tax elasticity and tax buoyancy?
The concepts of tax buoyancy and tax efficiency are used to measure the responsiveness of tax revenue to economic growth. Tax buoyancy is a crude measure which does not distinguish between discretionary and automatic growth of revenue. Elasticity is a preferred measure of tax responsiveness since it controls for automatic revenue changes. In this study, the buoyancies and elasticities of the major taxes in a representative developing economy, the Ivory Coast, are estimated using alternative estimation techniques and comparisons between buoyancies and elasticities are drawn. In general, tax receipts in the Ivory Coast tend to be slightly inelastic while particular taxes such as the value added tax are highly elastic. The results of the study have important policy and research implications.
What is the difference between direct tax and non-direct tax?
difference b/w direct tax and indirect tax
Tax treatment of deferred revenue expenditure?
What Did you mean by deferred revenue tax
What is the difference between revenue and expense called?
Net Income
