81.   Nemtsov noted that cutting crude oil and natural gas excise taxes would be problematic, since such a move would reduce tax revenue.

82.   Oil prices dropped slightly, however, reducing revenue from that source.

83.   Opponents of the proposal, including the prime minister, argue that the tax cut would sharply reduce state revenues and encourage tax evasion.

84.   Prime Minister Goh Chok Tong said the budget for the new fiscal year should post a surplus despite slower economic growth and reduced government revenue.

85.   Private hospitals in Singapore are reducing their charges in response to falling occupancy as the economic crisis reduces their revenues, a newspaper reported Monday.

86.   That is exactly the argument used by supporters of the capital gains tax cut, that it initially reduces government revenue but eventually increases it by stimulating economic growth.

87.   The company expects first and second quarter revenue will be reduced and the related losses will widen upon conclusion of the review.

88.   The Department of Finance is naturally against perks as they reduce revenues.

89.   The IMF opposes cutting the tax, warning that it will only reduce government revenues.

90.   At issue is whether the company set aside reserves with the effect of reducing revenues and intended to reverse the process to recognize the revenues in a later period.