Section PS 3510 - Tax Revenue

Scope

Section PS 3510 applies to:

• Accounting for and reporting tax revenue in government financial statements.

Does not apply to:

• Revenue recognition of developer charges, which is addressed in PS 3100, Restricted Assets and Revenues;
• Revenue recognition of resource royalties;
• Fines or penalties, such as those imposed for breaches of tax law;
• Interest earned on tax receivables;
• Transactions that are more in the nature of exchange transactions, such as user fees, license or permit fees; or
• Non-compulsory transfers to the government or entities charged with tax collection for the government, such as donations, contributions and the payment of fees.

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