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Explain five sources of public finance

Explain five sources of public finance

Answers

Hydah
Taxes
The most important source of revenue for the government that is gotten by citizens paying for some of the goods and services they get and acquire from the public. The tax can be directly or indirectly imposed on the people being taxed. The rate of taxation in the country will keep changing depending on the reasons provoking the government to charge people taxes.

Fees
Refers to the amounts received from the various direct services that are offered by the public. The services are provided by the local authority farms for example the parking fees charged daily in the city centers.

Prices
The money collected by the central or local authority firms due to the many number of commercial activities that take place in the country. The above include railway fee and telephone services.

Fines and Penalties
The event will take place when the respective individuals continually fail to cope up with the rules provided by the nation hence they go ahead to pay up for their mistakes. Citizens will be expected to pay heavy fines to the government when they continually break rules and affect innocent parties by their unhealthy and inhuman behaviors making it hard for them to cope up with progress.

State Property
Some property belongs to the government and can be used as a channel for making more money in return. The income that comes from such projects is considered to be public revenue.
hydah kerubo answered the question on August 8, 2018 at 07:23

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