Question

In addition to taxes what is another main source of government revenue

Answer 1

Public goods.

Step-by-step explanation:

The central government solicits taxes on the salaries and payrolls gained by people, profit from investments (e.g., rent, interest, bonuses, and capital profits), and additional revenue.

Revenues collected by the government are taken from sources so as taxes levied on the earnings and capital growth of people and businesses and on the goods and services provided, commodities and imports, non-taxable origins such as government-owned companies' profits, central bank interest, and principal.

Answer 2

In addition to taxes, there are other main sources of government revenue:

• Fees and charges: These are payments to defray the cost of each recurring service undertaken by the government, primarily in the public interests such as health, education, transportation, among others.

• Surplus of the public sector units: The government functions as if it were a business person and the public as its customers meaning that the government may either sell goods or provide services like train, electricity or water supply. Moreover, the government earns revenue from commodity production such as steel, oil or vaccines.

• Fines and penalties: In order to keep the order in the country, these are charges imposed on citizens as a punishment for breaking the law.

• Gifts and grants: Although this kind of source provides a small portion within government revenue, gifts are voluntary contribution from private individuals or non-government donors to the government fund for specific puproses such as war or emergency purposes.

• Borrowings from the public: This source of revenue encompasses loans from the public in the form of deposits, bonds, among others, or loans granted to foreign agencies and organizations.