Internal Revenue (Noun)
Meaning
Government revenue from domestic sources (excluding customs).
Classification
Nouns denoting possession and transfer of possession.
Examples
- The government relies heavily on internal revenue to fund its public programs and services.
- Internal revenue from taxes on personal income has seen a steady increase over the past few years.
- The country's internal revenue is primarily composed of taxes on sales, income, and property.
- To alleviate the economic burden on its citizens, the government decided to reduce internal revenue from consumer goods.
- Internal revenue collection agencies play a vital role in the country's economy by ensuring compliance with tax laws.