Which revenue contributes the most to the national budget?

Question: Which revenue contributes the most to the national budget?

The national budget is a financial plan that shows the expected revenues and expenditures of a country for a given fiscal year. One of the main sources of revenue for the national budget is taxation, which includes income tax, corporate tax, value-added tax, excise tax, customs duties, and other levies. Taxation accounts for about 80% of the total revenue of the national budget, according to the latest data from the Ministry of Finance. The other sources of revenue are non-tax revenues, such as fees, fines, dividends, grants, and loans, which make up the remaining 20% of the total revenue. Among the different types of taxes, income tax contributes the most to the national budget, followed by value-added tax and corporate tax. Income tax is a direct tax that is levied on the income of individuals and businesses. Value-added tax is an indirect tax that is added to the price of goods and services at each stage of production and distribution. Corporate tax is a direct tax that is imposed on the profits of companies. These three taxes together account for more than 60% of the total tax revenue of the national budget.

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