Personal Income Tax and Revenue Forecasting Research Paper

Personal Income Tax and Revenue presage - Research Paper Examplediminishing add of revenue in the past three old age in the calendar month of December to January and April to May as the fiscal year comes to an end with an average regularise of 15% and the revenue collection amount is registered high in the month of December every fiscal year. From the table of distribution of revenue collection in each year, the observation reveals that the revenue collection has been festering each year from the past financial year.Thus, given that the revenue collection amount in the month of May has the blueprint of decreasing by 15% from the collection of April, then the revenue amount that is presumable to be collected on May of 2001 is expected to be 586,743 - (586,743*15%) = 586,743 88,011.45 = 498,731.55 makka. If the amount of revenue that is possible to be collected in May is 498,731.55 makka, the revenue collection for the fiscal year June 2000-May 2001 will amount to 940,975.1 + 967,098.4 + 841,267.5 + 874,308.1 + 887,091.4 + 936,090.7 + 1,304,961.7 + 714,981 + 575,115 + 583,592 + 586,743 + 498,731.55 = 5,200,214.95 makka. Thus, the ministry target of revenue collection of 778,900 makka, given the past revenue pattern, will fail to be completed and will be required to be reviewed to a target of 5,200,214.95 makka.The factor that may affect the pattern of the revenue collection in Vadar Republic can be an scotch scenario in the overall stir and in the region which includes the economic trend (Baumol and Blinder 389). During the different months within the budget cycle, different economic events might be happening in some months that boost the income level of the citizen and returns of businesses in that particular period. For instance, during the month of December the country registers the highest level of revenue collection. This could be contributed to the festive season that accompanies the month of December, which means a lot of people engage in acti vities that increase the revenue that businesses make. A high revenue on the part of the