II. Instruction: Write True or False on the space provided 21. The Revenue and Expenditure budget of Ethiopian is prepared by the Ministry of Finance (MoF) for regional governments. the federal government and by Finance Bureaus 22. The Ethiopian government classifies its revenue based on the nature of Tax on Income, Taxes on Property and Taxes on Commodities. 23. The important indirect taxes levied by the Ethiopian Government on commodities are not: Customs Duty, Excise Duty, Value Added Tax and Turnover Tax. 24. The following categories of revenue are included under non-tax Administrative Revenue: Fees, Licenses. Fines and Penalties, Forfeitures, and Escheats. for 25. Budget deficit is not the excess of total expenditure over total revenue of the government. 26. Government may finance its budgetary deficits by borrowing from central bank, from market or from external sources. 27. Deficit financing has both positive and negative effects in the economy. 28. According to "Constitution of Ethiopia" and Proclamation No.33/1992, revenues shall be categorized as Central, Regional and Joint. 29. Tax evasion is not fraudulent action on the part of the taxpayer with a view to violate civil and criminal provisions of the tax laws. 30. The parallel economy or black economy is generally considered to be that area of economic act which remains concealed from the vision and approach of the State.
