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Federal Government Budget - Coggle Diagram
Federal Government Budget
1. Tax Revenue 60000
Two types of tax rev:
a. Direct tax
b. Indirect tax
Direct tax:
income tax, property tax, corporation tax, estate duties, tax from rent of films, duties on heritance, stamp duties, sale gain taxes, etc.
Indirect tax:
custom duties, sales tax, services tax, excise duties, export duties, import duties, goods and services taxex, etc.
2. Non-Tax Revenue:
Sources:
i. Fees
ii. Fines and penalties
iii. Profits from public sector enterprises
iv. Gifts and grants
v. Special assessment duty
Non-Tax Revenues 70000
eg.
rental
sales of goods
forms
other related
3. Non-Revenue Receipts 80000
Sources:
i. Return back balance of previous expenditure
ii. Receipts from govt agencies
iii. repayment such as loan repayments and grant and contribution.
4. Revenue from Federal Territories 90000
receipts from govt
Federal Govt
Expected Revenue
Expected Expenditure
1. Operating Expenditure:
Two types of operating exp:
a. Supply expenditure
b. Charged expenditure
Charged expenditure:
allowances to the royal families, salary of chief justice, and auditor general, expenditure of commission, statutory grants to state govt, pension and debt charges and allowance for retirement.
Supply expenditure:
Divided into five different objects:
a. Emolument
b. Service and supply
c. Assets
d. Grant and fixed charges
e. Other expenditure
a. Emolument 10000
eg:
salaray and wages
allowances
statutory contribution for employees
-other related
b. Supply and service 20000
eg:
travelling expenses
utilities and communication
rental
other related
c. Assets 30000
eg:
land and land improvement
building and building improvement
vehicles and machinery
investment
other related
d. Grant and fixed charges 40000
eg:
scholarships
internal & external assistance
debt payment
international contribution
e. Other expenditure 50000
eg:
write-off
fess
other related
2. Development Expenditure:
Type of expenditure:
a. Building and ownership
b. Equipement
c. Investment
d. Transfer of payment
e. Other development expenditure