/XObject << INTRODUCTION Nigeria is a sovereign nation. What are Opportunity Zones and how do they work? endobj Aransi, I. O. /F10 61 0 R Hassan, M. M. (2011). Public sector revenue management is as managing government revenue in public sectors. China Constitution of Federal Republic of Nigeria (1999). >> /CS /DeviceRGB <> 7, 192209. /Resources << What is the tax treatment of college and university endowments? /F4 85 0 R 3.5 Local government revenue sources by jurisdiction 7 3.6 Local government expenses by purpose 8 3.7 Taxation revenue share by sphere of government and source of revenue 8 3.8 Share of total taxation revenue by sphere of government over time 9 3.9 Vertical fiscal imbalance in Australia 10 4. /StructParents 5 >> N')].uJr %PDF-1.5 What are the sources of revenue for state governments? How does the federal budget process work? On what do economists agree and disagree about the effects of taxes on economic growth? /Meta50 52 0 R Li'}4I>A7i3;g f>dm,orW6XCid&ntGMhJ^ur!y]j]V CWD.6Eh.\Z35 =+`=+Zj:8l?3ZbS8h._=mp,:bx+2r&^N J'%3U4oHnkb~u*k.[pg Cities can also raise revenues by increasing the number of transactions through various approaches. <> What are inversions, and how will TCJA affect them? /Meta51 48 0 R City of Los Angeles Department of Public Works, Bureau of Engineering standard fee list, July 1, 2018, eng2.lacity.org. As a local government leader, you're pressed to keep up with the immediate needs of your community during the COVID-19 crisis. Its time to change it, CityMetric, March 12, 2018, citymetric.com. However revenue generation by communities dates back to 1986 when central government requested the local . As presently contained in the 1999 constitution, local governments receive 20 percent of the federation account. /MediaBox [0 0 595.32 842.04] 1 0 obj % Charges and miscellaneous fees, such as water, sewerage, and parking meter fees collected by municipal or county governments, provided $385 billion (23 percent of local general revenue). /Group << How large are the tax expenditures for retirement saving? Cities use fines as both a deterrent for behavior at odds with the public goodfor example, the accumulation and nondisposal of garbage or building construction without a temporary fenceand a revenue source. In 2019 inflation adjusted-dollars, combined state and local general revenue increased from $1.2 trillion in 1977 to $3.5 trillion in 2019, or a 188 percent increase. Next, cities should perform a thorough gap analysis to define the potential revenue impact for any given stream. This approach has the potential to not only fairly penalize offenders and reduce instances of speeding but also to generate more revenue. /Parent 2 0 R For example, revenue KPIs could include the annual increase in revenue per lever, while nonrevenue KPIs could define targets for each lever and its corresponding interventions, such as the annual increase in the number of violations detected. Of course, feasibility depends in part on the impact of an action on the city and its residents. University of Lagos Press. Longman. /F1 20 0 R Rakson Nigeria Ltd. Okotoni, O. To guide price hikes, cities could use benchmarks to determine the acceptable range. How did the TCJA affect tax expenditures? Candice Ferrette and Robert Brodsky, Red-light camera revenues jump in Nassau County, Newsday, June 10, 2018, newsday.com. 9. What transition rules would be needed for a national retail sales tax? /S /Transparency /S /Transparency The Local Government Act 462 of 1993 authorises and empowers the district assemblies to mobilise revenue in the form of rates, fees & fines, licences, rent, among others to help finance projects in their various areas of authority. %(zC]N"t~'ewd+*a[`.dP(wz)Vio+qjXvVmWHS%n}"GC3m*.#w+.T#p1f^HgC`|Mzcs,JX8/v>na,4t^}$$\X S:ds0{ws:yGu.%;x/\)F@!>od1v((EF|' n effective 'ocal -overnment system rests ma%orly on the availability of human, governments development. Who bears the burden of a national retail sales tax? 11 0 obj How large are individual income tax incentives for charitable giving? /Font << endobj In: Oloruntoba, S.O. >> Impact on economy. Problems of revenue generation in local government administration in Nigeria. 8 0 obj All revenue data are from the US Census Bureaus Annual Survey of State Government Tax Collections. >> /GS31 30 0 R /Resources << This was localities largest single source of tax revenue. /Meta49 54 0 R Part of Springer Nature. Revenue from charges, fees, and miscellaneous sources increased from 15 percent to 23 percent in 1985 and has remained roughly at that level since then (figure 2). The Federal government appointed Consultants/ Monitoring agents on Value Added Tax (VAT) and Withholding Tax (WHT) in the Oil Industry. >> endobj >> /F10 61 0 R How do phaseouts of tax provisions affect taxpayers? 3.16.1 Introduction. /ExtGState << endobj 13 0 obj How does the tax exclusion for employer-sponsored health insurance work? /Image20 81 0 R These fines would promote environmentally responsible behavior as well as create a viable revenue stream for the city. Fatile, J., Majekodunmi, A., Oni, A., & Adejuwon, D. (2013). The Nigerian political system is of a federal one which implies that all the three tiers of government should each function to provide good, 1 0 obj Revenue generation: Its impact on government developmental effort (A study of selected local council in Kogi East senatorial district). Therefore, the following three areas should be examined: In addition, the city should refer back to the results of the citizen sentiment survey conducted during the preparatory stage to help inform the assessment of social acceptance. Transfers from the federal government have fluctuated considerably over the past three decades. R[? Municipalities could increase service fees (such as those on parking and construction permits) as well as fines, taxes, and the cost of accessing city assets (such as beaches). In the last 10 years, Illinois has reduced the portion of income tax returned to cities and towns. How might low- and middle-income households be encouraged to save? Would tax evasion and avoidance be a significant problem for a national retail sales tax? International Journal of Economics, Commerce and Management, 3(6), pp. Los Angeles, for example, charges higher fees for expedited permitting and licensing processes. What are defined contribution retirement plans? Financial management in Nigerian local government. endobj /Image8 18 0 R /Producer (iText 1.3 by lowagie.com \(based on itext-paulo-153\)) Local governments collected $509 billion from property taxes in 2017, or 30 percent of local government general revenue. state and local government with a recommendation that conscious effort be made to allocate more revenues to states and local governments. This preparatory work generally consists of collecting the relevant data and developing the current revenue baseline. endobj 14 0 obj The survey research design was adopted for this study, with 414 staff of Ikorodu local government area as the population of the study. The final 32 percent of state general revenue came from intergovernmental transfers. <> Accessed 18 July 2016. endobj /GS31 30 0 R And these sources tend to be far from optimized: local governments are often unaware of how to get more from existing sources and lack the resources to mount such efforts. /Tabs /S << xZs8hI6mzumvwn:ul7 z?0{v8,Vjq.W?_/NOfSXbyqhu0r}z2/6r>YmM%`@NUOv- It should also prepare reports on the performance of various initiatives and their respective owners or entities and update revenues studies based on changing market conditions. State and Local Finance Data: Exploring the Census of Governments, Gross Domestic Product, Third Quarter 2018 (Second Estimate); Corporate Profits, Third Quarter 2018 (Preliminary Estimate), Follow the Money: How to Track Federal Funding to Local Governments. How do the estate, gift, and generation-skipping transfer taxes work? Are the Social Security trust funds real? /Length 5747 However, the composition of tax revenue has changed somewhat. This can be accomplished through moves that wont adversely affect public opinion or a citys competitiveness in attracting businesses and economic development. /Type /Pages /Pages 2 0 R Thus, the 'ocal government cannot embar$, execute, and possibly carryout the maintenance of these pro%ects and other responsibilities, This is the basic reason #hy development is s$eletal at some 'ocal -overnment, councils in Nigeria. In 2013, Seoul introduced a volume-based food waste disposal charge that succeeded in reducing its daily food waste significantly. Within this larger context, the ability of local governments to successfully and sustainably use revenue powers depends on an appropriate multi-dimensional constitutional/legal/ administrative framework. What did the Presidents Advisory Panel on Federal Tax Reform say about the national retail sales tax? #$ e-`w6w Beyond central government funding, the primary revenue streams for municipal governments are service fees, fines, taxes, and assets such as buildings and properties. Since residents often react negatively to actions that increase the cost of living, efforts to raise revenue through additional fees and taxes can be considered more acceptable when they also have a perceived public benefit. /Image8 18 0 R 10 0 obj How do US corporate income tax rates and revenues compare with other countries? 7 At the same time, most states place restrictions on local property taxation, with limits that fall into three main types: rate limits, assessment limits, and levy limits. International Journal of Arts and Humanities Bahir Dar, Ethiopia, 2(3), S/No. 1 0 obj /Resources << 3. How do state earned income tax credits work? /Kids [4 0 R 5 0 R 6 0 R 7 0 R 8 0 R 9 0 R 10 0 R 11 0 R 12 0 R 13 0 R] . /Type /Page /Meta62 60 0 R How does the current system of international taxation work? >> )U!$5X3/9 ($5j%V*'&*r" (,!!0b;C2( I8/ Emerging countries and regions will see the greatest increase in their urban populations, and China, India, and Nigeria represent slightly more than a third of the projected growth in that time frame. Do existing tax incentives increase homeownership? Global Journals Inc. (USA). stream endobj >> Revenue from property, sales, and other taxes totaled $707 billion, or 42 percent of general revenue. All other taxesincluding corporate income taxes, hotel taxes, and business license taxesprovided $40 billion in revenue (2 percent). These factors often include volume of activity, location, and period of validity. 0000002023 00000 n This effect is the strongest in mostly rural and sparsely populated areas where lignite is mined and used for power generation. Local tax limitations: a primer Property taxes . /Meta59 53 0 R The City of Chicago has instituted such a program several times over the past two decades. How might the tax exclusion for employer-sponsored health insurance (ESI) be reformed? 15 0 obj All dates in sections about revenue reference the fiscal year unless stated otherwise. %PDF-1.4 % >> Professional Import Duties Administrators Subscribed to {PRACTICE_NAME} email alerts. What would the tax rate be under a broad-based income tax? >> /MediaBox [0 0 595.32 842.04] International Business Management, 3(3), 5460. Revenue sources and economic growth in Nigeria: An appraisal. 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