Definition

Noun: - Government revenue from domestic sources (excluding customs): Money collected by a government from sources within its own country, primarily through taxes, but not including money collected from tariffs or duties on imports (customs).

Usage

• This term is most commonly used in official, governmental, and economic contexts to distinguish domestically generated public funds from other types of state income.
• It is often part of the name for a national tax collection agency (e.g., the Internal Revenue Service in the United States).

Examples

Advanced Usage

• "Internal revenue code": Refers to the complete body of tax laws of a country.
  • The changes to the internal revenue code will affect small businesses.
• "Internal revenue service (IRS)": The specific name of the United States government agency responsible for tax collection and tax law enforcement.
  • You must file your annual tax return with the Internal Revenue Service.

Variants and Related Words

• Revenue (n): Income, especially a large amount of money that a company or government regularly receives.
• Tax revenue (n): The income that is gained by governments through taxation, a major component of internal revenue.

Synonyms

• Domestic revenue: Government income generated from within the country.
• Tax income: Money received from taxation.

Related Phrases

• Internal revenue agent: An official who works for the tax collection agency.
  • An internal revenue agent will be auditing the company's financial records.
• Internal revenue stamp: A stamp required on certain legal documents as proof that a tax has been paid.
  • The deed required an internal revenue stamp to be valid.

Noun

1. government revenue from domestic sources (excluding customs)