Sector accounts; current transactions by sectors 1969- q4 2013

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Description topics

Resources

Revenue of institutional sectors.

Imports of goods and services

Imports of goods refer to goods intended for residents, which are imported from abroad into the Dutch economic territory. The definition of imports includes raw materials, semi-manufactured products, fuels and fixed assets intended for investment. Also included are imported goods, which are re-exported without undergoing any processing.
Imports of services are related to the expenses of Dutch businesses abroad, such as transport costs, bank charges and business travel. Imports of services by the general government include expenditures made by Dutch embassies and consulates abroad. Imports by households include amongst other things, imported consumer goods and the direct consumption expenditure of Dutch tourists, border residents, diplomats and soldiers abroad.

Total

Imports of goods refer to goods intended for residents, which are imported from abroad into the Dutch economic territory. The definition of imports includes raw materials, semi-manufactured products, fuels and fixed assets intended for investment. Also included are imported goods, which are re-exported without undergoing any processing.
Imports of services are related to the expenses of Dutch businesses abroad, such as transport costs, bank charges and business travel. Imports of services by the general government include expenditures made by Dutch embassies and consulates abroad. Imports by households include amongst other things, imported consumer goods and the direct consumption expenditure of Dutch tourists, border residents, diplomats and soldiers abroad.

Imports of goods

Imports of goods refer to goods intended for residents, which are imported from abroad into the Dutch economic territory. The definition of imports includes raw materials, semi-manufactured products, fuels and fixed assets intended for investment. Also included are imported goods, which are re-exported without undergoing any processing.

Imports of services

Imports of services are related to the expenses of Dutch businesses abroad, such as transport costs, bank charges and business travel. Imports of services by the general government include expenditures made by Dutch embassies and consulates abroad. Imports by households include amongst other things, imported consumer goods and the direct consumption expenditure of Dutch tourists, border residents, diplomats and soldiers abroad.

Compensation of employees

Compensation of employees is the total remuneration paid by employers to their employees in return for work done. Employees are all residents and non-residents working in a paid job. Managing directors of limited companies are considered to be employees; therefore their salaries are also included in the compensation of employees. The same holds for people working in sheltered workshops.
Compensation of employees is broken down into wages and salaries and employers' social contributions:

Wages and salaries include income taxes and employees’ social contributions even if they are actually withheld by the employer and paid directly to tax authorities, social security schemes and pension schemes.
Wages include payments that are periodically and directly paid to employees. Besides they contain extras (such as bonuses, overtime pay, tips, commission), wages in kind (such as free housing, free food, ‘company car’, day nursery, lower interest rates on mortgages, free travel (or at reduced prices) and holiday allowances). Furthermore, certain refunds for costs made by the employee, such as travel expenses to and from work, are included as well.

Employers’ social contributions consist of payments to insurers made by employers for the benefit of their employees. They can be classified in employers' social security contributions, employers' private social contributions (of which pension schemes) and the imputed social contributions.
In most cases the employers directly pay the employers’ social contributions to the insurers. However, to show that these contributions are paid for the benefit of employees, these payments are recorded as two transactions: a) employers pay employers’ social contributions to their employees, and b) employees pay the same contributions to social insurance funds.

Wages and salaries

Wages and salaries include income taxes and employees’ social contributions even if they are actually withheld by the employer and paid directly to tax authorities, social security schemes and pension schemes.
Wages include payments that are periodically and directly paid to employees. Besides they contain extras (such as bonuses, overtime pay, tips, commission), wages in kind (such as free housing, free food, ‘company car’, day nursery, lower interest rates on mortgages, free travel (or at reduced prices) and holiday allowances). Furthermore, certain refunds for costs made by the employee, such as travel expenses to and from work, are included as well.

Taxes on production and imports

Taxes on production and imports are all taxes to the government and the EU paid by producers except for the current taxes on income and wealth.
All taxes paid by consumers are regarded as current taxes on income and wealth. So, depending on the taxpayer, the same tax is recorded as a tax on production or a tax on income and wealth. For example real estate taxes on dwellings, paid by tenants, are seen as taxes on income and wealth, while real estate taxes paid by owners of dwellings (including owner-occupiers) are seen as taxes on production.
Import duties to the EU are recorded as taxes on imports. The import duties paid by non-residents to the EU (via the government) are not recorded in the national accounts.
Taxes on production and imports are recorded according to the destination criterion. So, taxes collected by the central government on behalf of the local government or the EU are not recorded as receipts of the central government.

Total

Taxes on production and imports are all taxes to the government and the EU paid by producers except for the current taxes on income and wealth.
All taxes paid by consumers are regarded as current taxes on income and wealth. So, depending on the taxpayer, the same tax is recorded as a tax on production or a tax on income and wealth. For example real estate taxes on dwellings, paid by tenants, are seen as taxes on income and wealth, while real estate taxes paid by owners of dwellings (including owner-occupiers) are seen as taxes on production.
Import duties to the EU are recorded as taxes on imports. The import duties paid by non-residents to the EU (via the government) are not recorded in the national accounts.
Taxes on production and imports are recorded according to the destination criterion. So, taxes collected by the central government on behalf of the local government or the EU are not recorded as receipts of the central government.

Taxes on products

Taxes on products are related to the value or the volume of products. They are levied on domestically produced or transacted products and on imported products.
Taxes on products are classified into taxes on domestic products, taxes on imports and VAT.

Difference imputed and paid VAT

Imputed VAT differs from VAT actually paid to the government. This is due to acquittals, bad debts, fines, the Regulation for small entrepreneurs and VAT evasion.
The difference imputed and paid VAT is not distributed over industries. On the level of the total economy it is added to GDP (and the operating surplus / mixed income).

Other taxes on production

Other taxes on production include all taxes on production paid by producers, not related to the value or volume of products produced or transacted. Examples are real estate tax and sewerage charges paid by producers.

Property income

Property income is the income receivable by the owner of a financial asset or a tangible non-produced asset in return for providing funds to, or putting the tangible non-produced asset at the deposal of, another institutional unit.
Property income consists of: interest, distributed income of corporations (dividends and withdrawals from income of quasi-corporations), reinvested earnings on direct foreign investments, property income attributed to insurance policy holders and rents on land and subsoil assets.

Income from land and subsoil assets

Income from land and subsoil assets includes rents (received by landowners from tenants) and royalties for the permission to explore or to extract minerals or fossil fuels (received by owners of such deposits).

Current taxes on income and wealth

Current taxes on income and wealth of corporations consist of corporation tax and dividend tax. These taxes are based on the profits of corporations.
Current taxes on income and wealth of households include all taxes, which are periodically imposed on income and wealth, such as the income tax, the wage tax and the tax on net wealth of individuals. Non-periodical levies, such as inheritance tax are defined as capital transfers. Several types of taxes are simultaneously seen as taxes on production and imports when imposed on producers and as taxes on income and wealth when imposed on consumers. For instance, motor vehicle tax is a tax on production when it is imposed on company cars and it is a tax on income and wealth and imports when it is imposed on cars for private use.
The treatment of dividend tax results from the recording of dividends. Because dividends are recorded gross, i.e. before deduction of dividend tax, dividend tax is in all cases recorded at the receiving sector. The same applies for the dividend tax to and from the rest of the world.

Total

Current taxes on income and wealth of corporations consist of corporation tax and dividend tax. These taxes are based on the profits of corporations.
Current taxes on income and wealth of households include all taxes, which are periodically imposed on income and wealth, such as the income tax, the wage tax and the tax on net wealth of individuals. Non-periodical levies, such as inheritance tax are defined as capital transfers. Several types of taxes are simultaneously seen as taxes on production and imports when imposed on producers and as taxes on income and wealth when imposed on consumers. For instance, motor vehicle tax is a tax on production when it is imposed on company cars and it is a tax on income and wealth and imports when it is imposed on cars for private use.
The treatment of dividend tax results from the recording of dividends. Because dividends are recorded gross, i.e. before deduction of dividend tax, dividend tax is in all cases recorded at the receiving sector. The same applies for the dividend tax to and from the rest of the world.

Current taxes on income

Tax levied on income. These include: corporate income tax, payroll tax, income tax, dividend tax, gambling tax and one-time revenue in connection with the liquidation of holding companies.

Current taxes on wealth

Tax levied on capital (such as bank balances, savings and investments). The amount to be paid depends on the volume of the capital.

Social contributions and benefits

Social contributions include social security contributions, private social contributions (among which contributions to pension schemes) and imputed social contributions. Employers, employees, self-employed persons and non-active persons pay these contributions. Social benefits are transfers to households, intended to relieve them from the financial burden of a number of risks or needs, such as sickness, invalidity, disability, old age, survivors and unemployment.

Total

Social contributions include social security contributions, private social contributions (among which contributions to pension schemes) and imputed social contributions. Employers, employees, self-employed persons and non-active persons pay these contributions. Social benefits are transfers to households, intended to relieve them from the financial burden of a number of risks or needs, such as sickness, invalidity, disability, old age, survivors and unemployment.

Uses

Expenditure by institutional sectors.

Exports of goods and services

Exports of goods refer to goods, which have been exported by residents from the Dutch economic territory to the rest of the world.
The exports of services include the services of Dutch transport enterprises abroad, harbour services, ships repair services and engineering of works by Dutch contractors abroad.
Also included in the exports of services are expenditures by foreign tourists, inhabitants of the border area and diplomats in the Netherlands.

Total

Exports of goods refer to goods, which have been exported by residents from the Dutch economic territory to the rest of the world.
The exports of services include the services of Dutch transport enterprises abroad, harbour services, ships repair services and engineering of works by Dutch contractors abroad.
Also included in the exports of services are expenditures by foreign tourists, inhabitants of the border area and diplomats in the Netherlands.

Exports of goods

Exports of goods refer to goods, which have been exported by residents from the Dutch economic territory to the rest of the world.

Exports of services

The exports of services include the services of Dutch transport enterprises abroad, harbour services, ships repair services and engineering of works by Dutch contractors abroad.
Also included in the exports of services are expenditures by foreign tourists, inhabitants of the border area and diplomats in the Netherlands.

Compensation of employees

Compensation of employees is the total remuneration paid by employers to their employees in return for work done. Employees are all residents and non-residents working in a paid job. Managing directors of limited companies are considered to be employees; therefore their salaries are also included in the compensation of employees. The same holds for people working in sheltered workshops.
Compensation of employees is classified in wages and salaries and employers' social contributions:

Wages and salaries include income taxes and employees’ social contributions even if they are actually withheld by the employer and paid directly to tax authorities, social security schemes and pension schemes.
Wages include payments that are periodically and directly paid to employees. Besides they contain extras (such as bonuses, overtime pay, tips, commission), wages in kind (such as free housing, free food, ‘company car’, day nursery, lower interest rates on mortgages, free travel (or at reduced prices) and holiday allowances. Furthermore, certain refunds for costs made by the employee, such as travel expenses to and from work, are included as well.

Employers’ social contributions consist of payments to insurers made by employers for the benefit of their employees. They can be classified in employers' social security contributions, employers' private social contributions (of which pension schemes) and the imputed social contributions.
In most cases the employers directly pay the employers’ social contributions to the insurers. However, to show that these contributions are paid for the benefit of employees, these payments are recorded as two transactions: a) employers pay employers’ social contributions to their employees, and b) employees pay the same contributions to social insurance funds.

Wages and salaries

Wages and salaries include income taxes and employees’ social contributions even if they are actually withheld by the employer and paid directly to tax authorities, social security schemes and pension schemes.
Wages include payments that are periodically and directly paid to employees. Besides they contain extras (such as bonuses, overtime pay, tips, commission), wages in kind (such as free housing, free food, ‘company car’, day nursery, lower interest rates on mortgages, free travel (or at reduced prices) and holiday allowances. Furthermore, certain refunds for costs made by the employee, such as travel expenses to and from work, are included as well.

Taxes on production and imports

Taxes on production and imports are all taxes to the government and the EU paid by producers except for the current taxes on income and wealth.
All taxes paid by consumers are regarded as current taxes on income and wealth. So, depending on the taxpayer, the same tax is recorded as a tax on production or a tax on income and wealth. For example real estate taxes on dwellings, paid by tenants, are seen as taxes on income and wealth, while real estate taxes paid by owners of dwellings (including owner-occupiers) are seen as taxes on production.
Import duties to the EU are recorded as taxes on imports. The import duties paid by non-residents to the EU (via the government) are not recorded in the national accounts.
Taxes on production and imports are recorded according to the destination criterion. So, taxes collected by the central government on behalf of the local government or the EU are not recorded as receipts of the central government.

Total

Taxes on production and imports are all taxes to the government and the EU paid by producers except for the current taxes on income and wealth.
All taxes paid by consumers are regarded as current taxes on income and wealth. So, depending on the taxpayer, the same tax is recorded as a tax on production or a tax on income and wealth. For example real estate taxes on dwellings, paid by tenants, are seen as taxes on income and wealth, while real estate taxes paid by owners of dwellings (including owner-occupiers) are seen as taxes on production.
Import duties to the EU are recorded as taxes on imports. The import duties paid by non-residents to the EU (via the government) are not recorded in the national accounts.
Taxes on production and imports are recorded according to the destination criterion. So, taxes collected by the central government on behalf of the local government or the EU are not recorded as receipts of the central government.

Taxes on products

Taxes on products are related to the value or the volume of products. They are levied on domestically produced or transacted products and on imported products.
Taxes on products are classified into taxes on domestic products, taxes on imports and VAT.

Other taxes on production

Other taxes on production include all taxes on production paid by producers, not related to the value or volume of products produced or transacted. Examples are real estate tax and sewerage charges paid by producers.

Property income

Property income is the income receivable by the owner of a financial asset or a tangible non-produced asset in return for providing funds to, or putting the tangible non-produced asset at the deposal of, another institutional unit.
Property income consists of: interest, distributed income of corporations (dividends and withdrawals from income of quasi-corporations), reinvested earnings on direct foreign investments, property income attributed to insurance policy holders and rents on land and subsoil assets.

Income from land and subsoil assets

Income from land and subsoil assets includes rents (received by landowners from tenants) and royalties for the permission to explore or to extract minerals or fossil fuels (received by owners of such deposits).

Current taxes on income and wealth

Current taxes on income and wealth of corporations consist of corporation tax and dividend tax. These taxes are based on the profits of corporations.
Current taxes on income and wealth of households include all taxes, which are periodically imposed on income and wealth, such as the income tax, the wage tax and the tax on net wealth of individuals. Non-periodical levies, such as inheritance tax are defined as capital transfers. Several types of taxes are simultaneously seen as taxes on production and imports when imposed on producers and as taxes on income and wealth when imposed on consumers. For instance, motor vehicle tax is a tax on production when it is imposed on company cars and it is a tax on income and wealth and imports when it is imposed on cars for private use.
The treatment of dividend tax results from the recording of dividends. Because dividends are recorded gross, i.e. before deduction of dividend tax, dividend tax is in all cases recorded at the receiving sector. The same applies for the dividend tax to and from the rest of the world.

Total

Current taxes on income and wealth of corporations consist of corporation tax and dividend tax. These taxes are based on the profits of corporations.
Current taxes on income and wealth of households include all taxes, which are periodically imposed on income and wealth, such as the income tax, the wage tax and the tax on net wealth of individuals. Non-periodical levies, such as inheritance tax are defined as capital transfers. Several types of taxes are simultaneously seen as taxes on production and imports when imposed on producers and as taxes on income and wealth when imposed on consumers. For instance, motor vehicle tax is a tax on production when it is imposed on company cars and it is a tax on income and wealth and imports when it is imposed on cars for private use.
The treatment of dividend tax results from the recording of dividends. Because dividends are recorded gross, i.e. before deduction of dividend tax, dividend tax is in all cases recorded at the receiving sector. The same applies for the dividend tax to and from the rest of the world.

Current taxes on income

Tax levied on income. These include: corporate income tax, payroll tax, income tax, dividend tax, gambling tax and one-time revenue in connection with the liquidation of holding companies.

Current taxes on wealth

Tax levied on capital (such as bank balances, savings and investments). The amount to be paid depends on the volume of the capital.

Social contributions and benefits

Social contributions include social security contributions, private social contributions (among which contributions to pension schemes) and imputed social contributions. Employers, employees, self-employed persons and non-active persons pay these contributions. Social benefits are transfers to households, intended to relieve them from the financial burden of a number of risks or needs, such as sickness, invalidity, disability, old age, survivors and unemployment.

Total

Social contributions include social security contributions, private social contributions (among which contributions to pension schemes) and imputed social contributions. Employers, employees, self-employed persons and non-active persons pay these contributions. Social benefits are transfers to households, intended to relieve them from the financial burden of a number of risks or needs, such as sickness, invalidity, disability, old age, survivors and unemployment.

Balancing items

Main macroeconomic balancing items by sectors

Net saving and capital transfers

Changes in net worth, due to saving and capital transfers, which corresponds to net saving plus capital transfers receivable, minus capital transfers payable.