To instill a culture of performance, organizations should set targets for net revenues and select key performance indicators (KPIs). /Type /Group What would the tax rate be under a national retail sales tax?
What are defined contribution retirement plans? In our experience, cities that fare the best in their revenue generation efforts create an internal dedicated unit that is responsible for the strategys implementation. Aravind Boddupalli, Tracy Gordon, and Lourdes German (2021), State and Local Government Revenues and Racial Disparities Global Journal of Management and Business Research Administration and Management, 13(4), 1226. /Parent 2 0 R <>stream
In 2020 and 2021, Congress transferred a large amount of funds to local governments as part of the CARES Act, the Coronavirus Response and Relief Supplemental Appropriations Act (part of the December 2020 omnibus bill), and the American Rescue Plan. 2016. 'ocal governments in, over a number of years. Are the Social Security trust funds real? OECD fiscal decentralization database (object name Table 12: 1970 2016), OECD, accessed April 15, 2019, oecd.org. N')].uJr Never miss an insight. How do state estate and inheritance taxes work? In general, cities draw from four types of sources that each include numerous levers (Exhibit 2). Some are widely practiced, while others represent emerging and innovative options for city governments to pursue. State governments collected $2.2 trillion of general revenues in 2019.
n /1, the 3ederal 4ilitary -overnment then issued, guidelines on local governments reforms. /XObject << /Group << What was the experience with return-free filing in California? The principal aims of creating local governments were as follows: 1. 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). Catawba Publishing Company. %
/Type /Group /ExtGState << I. I. ntroduction 6 0 obj /MediaBox [0 0 595.32 841.92] /Meta55 44 0 R Edogbanya, A., & Sule, J. G. (2013). Chapter One of Revenue Generation in Local Government Areas (Problems and Prospects) INTRODUCTION: BACKGROUND OF THE STUDY: Nigeria has three- tiers of government systems, These are; (i) The federal government (ii) The state government and (iii) The local government. Abstract and Figures This paper examines trends in local government revenues and current challenges that local governments face in raising revenue. This applies to administrative services as well as other city services such as utility provision. Revenue generation: Its impact on government developmental effort (A study of selected local council in Kogi East senatorial district). Cities that want to implement new charges will be more likely to build public support if such measures both induce positive behavior and have a clear, equitable, and risk-averse public benefit. How would small businesses be treated under a VAT? In Saudi Arabia, the Ministry of Municipal and Rural Affairs has a control unit that monitors the performance of regions and the regional government authorities that oversee municipalities. /Contents 64 0 R 5366 0 obj<>stream
How does the federal budget process work? responsibilities in the federation. Today, the LGDF receives only 6.06% of total personal income tax the state receives, a reduction . n effective 'ocal -overnment system rests ma%orly on the availability of human, governments development. 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. <>
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What is carried interest, and how is it taxed? Service fees. )U!$5X3/9 ($5j%V*'&*r" (,!!0b;C2( I8/
Financial management in Nigerian local government. /MediaBox [0 0 595.32 842.04] Its time to change it,, Author Talks: The worlds longest study of adult development finds the key to happy living, The executives guide to new-business building, Generative AI is here: How tools like ChatGPT could change your business, Smart cities: Digital solutions for a more livable future, Dubai introduces innovation fees for government transactions,. What would and would not be taxed under a VAT? =s`Eu00Fu@dH*e&PtD\
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B#L2]\m /Contents 67 0 R Local governments include county governments, municipalities, townships, special districts (such as water and sewage authorities), and school districts. /GS7 17 0 R Developing countries revenue growth is hampered by a . Sales taxes (general and selective) provided local governments $124 billion (7 percent of general revenue) and individual income taxes accounted for $33 billion (2 percent). We'll email you when new articles are published on this topic. How receptive citizens and businesses are to a given intervention in a revenue stream can have significant impact on the interventions long-term viability. <>
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Revenue generation in Nigeria local governments is principally derived from tax. %PDF-1.4
With initial adjustments for relevance and size of potential revenue impact, cities can select the most promising streams as revenue generators. /F6 41 0 R Financing Local Governments: Exploiting the potential of local revenue Introduction Local governments are constitutionally empowered to control, regulate and also raise revenues from activities in their jurisdiction. /CS /DeviceRGB endobj >> \\jG*"ktVJE Fatile, J., Majekodunmi, A., Oni, A., & Adejuwon, D. (2013). >> The involvement of leadership as well as all relevant departments and municipalities would help to ensure proper implementation across all levels. These three dimensions can be further broken down into factors for evaluation (Exhibit 5). /MediaBox [0 0 595.32 842.04] n /, another reform of local government #as, established. /Count 10 /StructParents 0 Gross Domestic Product, Third Quarter 2018 (Second Estimate); Corporate Profits, Third Quarter 2018 (Preliminary Estimate).. These fines would promote environmentally responsible behavior as well as create a viable revenue stream for the city. This preparatory work generally consists of collecting the relevant data and developing the current revenue baseline. Norton Francis and Frank Sammartino (2015). This need underscores the eagerness on the part of state and local governments and even the federal government to look for >> /XObject << In 2020 and 2021, Congress transferred a large amount of funds to state governments as part of the CARES Act, the Coronavirus Response and Relief Supplemental Appropriations Act (part of the December 2020 omnibus bill), and the American Rescue Plan. Elected officials have four primary revenue sources, each containing multiple levers. Dubai instituted a knowledge dirham, a flat charge that applies to all government services. A review of revenue generation in Nigeria local government: A case study of Ekiti State. << What are the major options for comprehensive tax reform? Who benefits from the deduction for charitable contributions? 12 0 obj /Image93 73 0 R >> /ExtGState << endobj Local government personnel can be trained to administer simple but adequate revenue generation instruments. /F2 83 0 R Learning theories: Their influence on teaching methods. For example, the federal government sends K-12 education funds to state governments that then distribute the money to local governments. Revenue generation in Nigeria local governments is principally derived from TAX. The authentic confucius: A life of thought and politics. What tax incentives exist to help families pay for college? Economic development in the Third World (12th ed.). /F4 23 0 R /F5 40 0 R /F3 22 0 R This effect is the strongest in mostly rural and sparsely populated areas where lignite is mined and used for power generation. This intervention is typically applicable to any paper-based transactions or services, such as business license fees, construction permit fees, or land registration fees. >> Urban Institute, Brookings Institution, and individual authors, 2022. The data was analyzed using simple percentage and frequency for primary data and content analysis for secondary data. /Type /Group Please try again later. Tax as a financial charge, is the main source of revenue generation for any government. How did the TCJA change taxes of families with children? /Meta44 31 0 R /Resources << How do US corporate income tax rates and revenues compare with other countries? /Meta78 65 0 R /Tabs /S Revenue: Sources of revenue to local and state governments in Nigeria (in) state and local government in Nigeria: The changing scene. >> As city populations swell, municipal governments face increasing pressure from citizens and businesses to improve service delivery performance. 7, 192209. How do state and local property taxes work? 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. All revenue data are from the US Census Bureaus Annual Survey of State Government Tax Collections. State and Local Finance Data: Exploring the Census of Governments, How the COVID-19 Pandemic is Transforming State Budgets, State Tax and Economic Review
Government and to the State Governments. Ayodele, I. O., & Sunday, A. E. (2009). How do phaseouts of tax provisions affect taxpayers? /Meta56 45 0 R >> What is the difference between a tax-exclusive and tax-inclusive sales tax rate? endobj
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X-ray of Local government administration in Nigeria. How have the sources of revenue for state and local governments changed over time? The revenue generation is not exceptional to :muahia North, Do not sell or share my personal information. /Meta53 50 0 R
Can poor families benefit from the child tax credit? 3 0 obj >> endobj
What are the sources of revenue for local governments? How accurate are long-run budget projections? /F7 42 0 R What does it mean for a government program to be off-budget? <>/XObject<>/ProcSet[/PDF/Text/ImageB/ImageC/ImageI] >>/Annots[ 13 0 R] /MediaBox[ 0 0 612 792] /Contents 4 0 R/Group<>/Tabs/S/StructParents 0>>
As a local government leader, you're pressed to keep up with the immediate needs of your community during the COVID-19 crisis. /ExtGState << /CS /DeviceRGB A citizens guide to the fascinating (though often complex) elements of the US tax system. 9 o"A\|h9MxgZ(wpMk
UN==dN#R. Municipalities often levy charges and taxes on property owners as well as on income, sales, and other transactions. /Contents [14 0 R 15 0 R 16 0 R] What is the difference between carryover basis and a step-up in basis? /CS /DeviceRGB US Department of Commerce, Bureau of Economic Analysis. Revenue has been found to be nose diving from time to time due to the weakness in the control framework that exists in the public sector. How would various proposals affect incentives for charitable giving? What are tax credits and how do they differ from tax deductions? /ProcSet [/PDF /Text /ImageB /ImageC /ImageI] /MediaBox [0 0 595.32 842.04] /Resources << How do state earned income tax credits work? 0000003670 00000 n
The role that local governments can play in revenue generation will clearly depend on decisions about the overall system structure. Majority Tax is a compulsory levy imposed by government on individuals and companies, for the various legitimate function of the state (, Tax is a necessary ingredient for civili"ation. How does the tax system subsidize child care expenses? Predicting Municipal Fiscal Distress: Aspiration or Reality? Cambridge, MA: Lincoln Institute of Land Policy. /ExtGState << The largest state and local general own-source funds came from charges and property taxes (both 17 percent), followed by individual income taxes and general sales taxes (both 13 percent),and selective sales taxes (6 percent).
The City of Chicago has instituted such a program several times over the past two decades. How did the Tax Cuts and Jobs Act change personal taxes? /Tabs /S Hb``$WR~|@T#2S/`M. To address this problem, requires proper implementation of plans directed at enhancing adequate revenue generation. endobj Who would qualify for return-free filing? Performance meetings should be scheduled on a weekly basis to track revenue generation and build ownership. >> nQt}MA0alSx k&^>0|>_',G! 2. What is the role of monetary policy in alleviating economic downturns? %PDF-1.5
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On the other hand, if the state collects a tax imposed by local governments, the collection and distribution to the imposing local governments is treated as an agency transaction; that is, the receipts are reported entirely as tax revenue of the local governments and not as either a state tax or state intergovernmental expenditure. /Type /Group How does the current system of international taxation work? Create new revenue streams. Catawba Publishing Company. The share from intergovernmental transfers also fluctuated somewhat over time, falling from 43 percent of general revenue in 1977 to 36 percent in 2017. Nchuchuwe, F. F. Local government finance in Nigeria in Olojede, I., Fajonyomi, B., & Fatile, J. GRIN Verlag. 7 0 obj Journal of Economics and Sustainable Development, 7(8),113123. /S /Transparency What are Roth individual retirement accounts? What is foreign-derived intangible income and how is it taxed under the TCJA? 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