Tax Revenue:

A tax is a compulsory contribution imposed by the government on individual, business or institutions without any service rendered to the tax payer in return. The composition of the various taxes in total tax revenue i.e. the tax structure varies from one country to the other.

With the exception of major oil exporting countries like Nigeria and other members of Organisation of Petroleum Exporting Countries (OPEC), tax revenue constitutes the major part of government revenue in most countries.