Definition National Revenue Fund

Government revenue as well as government spending are components of the government budget and important tools of the government s fiscal policy.

Definition national revenue fund. The allocation of revenue to the national provincial and local spheres of government as required by the constitution. At the conclusion of the consideration of the report at the committee of supply it was approved that the sum of n346 513 046 220 00 three hundred and forty six billion five hundred and thirteen million forty six thousand two hundred and twenty two naira only be issued from the statutory revenue fund of the niger delta development commission nddc as its 2019 budget. These funds are transferred from the national revenue fund to the respective provincial revenue funds as per agreed transfer schedule. Consolidated fund or consolidated revenue fund is a term used in many states with political systems derived from the westminster system to describe the main bank account of the government.

General taxation is taxation paid into the consolidated fund for general spending as opposed to hypothecated taxes earmarked for specific purposes. The national treasury is empowered to develop the overall macroeconomic and fiscal framework co ordinate intergovernmental fiscal relations and the budget preparation process manage the implementation of a budget and promote and enforce revenue asset and liability management. 108 of 1996 definition of national revenue fund inserted by s. Money may be withdrawn from the national revenue fund only in terms of an appropriation by an act of parliament.

National revenue fund means the fund established by section 213 of the constitution of the republic of south africa 1996 act no.