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Section PS 3510 - Tax Revenue

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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BDO can help you navigate the road ahead

Applying financial reporting standards can be quite complex. The BDO team can help you assess your situation and prepare for the opportunities and challenges involved.

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