/Image8 18 0 R In the last 10 years, Illinois has reduced the portion of income tax returned to cities and towns. /MediaBox [0 0 595.32 842.04] How should distributional tables be interpreted? /F7 42 0 R )U!$5X3/9 ($5j%V*'&*r" (,!!0b;C2( I8/ What would and would not be taxed under a national retail sales tax? Taxes accounted for 42 percent of local general revenue in 2017. <> 10 0 obj endobj Uhunmwuangho, S. O., & Aibieyi, S. (2013, July). /GS7 17 0 R 11 0 obj McKinsey_Website_Accessibility@mckinsey.com. wG xR^[ochg`>b$*~ :Eb~,m,-,Y*6X[F=3Y~d tizf6~`{v.Ng#{}}jc1X6fm;'_9 r:8q:O:8uJqnv=MmR 4 Who would qualify for return-free filing? Optimizing land monetization has the potential to double baseline revenue from income-generating assets. /Type /Group We also look into the future in an. That amount includes intergovernmental transfers from the federal government but not transfers between state and local governments (which is why the combined total is less than the sum of the separate state and local totals listed below). N')].uJr The following steps provide a structured process for cities to determine a tailored and effective solution, taking into account the distinctive characteristics of each city. / What are itemized deductions and who claims them? the federal and state governments in Nigeria to boost revenue generation under a programme known as the Accelerated Revenue Generation (ARG) Programme. How would the tax system need to change with return-free filing? << endobj >> /Type /Group >> 7. HyTSwoc [5laQIBHADED2mtFOE.c}088GNg9w '0 Jb Revenue from property, sales, and other taxes totaled $707 billion, or 42 percent of general revenue. What does it mean for a government program to be off-budget? Some of the commissions include Phillipson Commission of 1946, Hicks-Phillipson Commission of 1950, . What would be the effect of a national retail sales tax on economic growth? 2 /Group << When the State increased the income tax rate in 2011 it did not share the increased revenues with local governments. How are different consumption taxes related? However, the state government transfer total includes indirect federal funds that are initially allocated to states. We'll email you when new articles are published on this topic. >> %PDF-1.5 Although local government revenue was about the same relative to gross domestic product in 1977 (8.6 percent) and 2017 (8.7 percent), it has fluctuated over the period (figure 3). /F3 84 0 R /F3 22 0 R Bundle charges. Social acceptance. /Meta59 53 0 R 12 0 obj Meanwhile, individual income taxes have also increased as a percentage of state and local general revenue, providing 10 percent in 1977 and 13 percent in 2019. Anyone you share the following link with will be able to read this content: Sorry, a shareable link is not currently available for this article. Los Angeles, for example, charges higher fees for expedited permitting and licensing processes. /Meta63 59 0 R Why do low-income families use tax preparers? /MediaBox [0 0 595.32 842.04] This research work examines how the federal Government of Nigeria generate revenue and the development of Local Government Areas, Revenue Generation and the Development of Local Government Areas, 100% found this document useful (8 votes), 100% found this document useful, Mark this document as useful, 0% found this document not useful, Mark this document as not useful, Save Revenue Generation and the Development of Local Go For Later. >> As a result of these twin trends, a majority of the municipalities around the world are struggling to increase revenues while facing structural budget shortfalls that threaten service delivery and quality. Elected officials have four primary revenue sources, each containing multiple levers. endobj What are state balanced budget requirements and how do they work? D$IOS|O+kJp> [/ICCBased 11 0 R] What tax incentives encourage energy production from fossil fuels? Unlocking the full potential of city revenues. 4. How might the tax exclusion for employer-sponsored health insurance (ESI) be reformed? Principles of leadership. /GS31 30 0 R What would the tax rate be under a broad-based income tax? /Type /Group What is the Low-Income Housing Tax Credit and how does it work? 8. What is the schedule for the federal budget process? << /Tabs /S Rakson Nigeria Ltd. Okotoni, O. 0000002809 00000 n What are the tax benefits of homeownership? [/ICCBased 9 0 R] /F2 21 0 R stream Babcock University Press. >> /Meta81 69 0 R What is the new markets tax credit, and how does it work? /CS /DeviceRGB << /ProcSet [/PDF /Text /ImageB /ImageC /ImageI] How does the tax system subsidize child care expenses? %PDF-1.5 Nchuchuwe, F. F. Local government finance in Nigeria in Olojede, I., Fajonyomi, B., & Fatile, J. Small Business Effect: Potential meaningful. /Tabs /S /GS7 17 0 R 0000000532 00000 n 9 o"A\|h9MxgZ(wpMk UN==dN#R. /Meta64 58 0 R Impact on economy. <>/XObject<>/ProcSet[/PDF/Text/ImageB/ImageC/ImageI] >>/Annots[ 11 0 R 16 0 R 19 0 R 22 0 R 23 0 R] /MediaBox[ 0 0 612 792] /Contents 4 0 R/Group<>/Tabs/S/StructParents 0>> /F2 21 0 R 5/27/2020. /F4 23 0 R As a local government leader, you're pressed to keep up with the immediate needs of your community during the COVID-19 crisis. 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. What is foreign-derived intangible income and how is it taxed under the TCJA? endobj Annual Survey of State and Local Government Finances. /CreationDate (D:20131230000155+10'00') 11. /Tabs /S <> recommended that the local government should provide basic amenities of high quality. What was the experience with return-free filing in California? endobj Revenue from property, sales, and other taxes totaled $707 billion, or 42 percent of general revenue. 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. University of Lagos Press. /Meta42 32 0 R Intergovernmental transfers accounted for 36 percent of local general revenue in 2017 (figure 1). Each time, the city brought in $7 million to $9 million in revenue. /Image89 71 0 R How do flexible spending accounts for health care expenses work? >> What are the sources of revenue for local governments? /MediaBox [0 0 595.32 842.04] 2016. /StructParents 2 Meanwhile, revenue from sales taxes steadily increased from 5 percent to 7 percent between 1977 to 2017 (figure 2). Before cities can begin to optimize their revenues, they must first compile an inventory of existing revenue streams. % (*(%8H8c- fd9@6_IjH9(3=DR1%? To serve as an intermediary between government at the center and local communities. Government and to the State Governments. endobj /Resources << endobj 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. >> How do state and local severance taxes work? /XObject << State and local governments collected a combined $3.5 trillion of general revenues in fiscal year 2019. 68% of the world population projected to live in urban areas by 2050, says UN, United Nations Department of Economic and Social Affairs, May 16, 2018, un.org. Revenue generation is the main source of income to the Federal, State and local Governments. 'ocal governments in, over a number of years. /Font << 3 0 obj Taxes provided 49 percent of state general revenues in 2019, including: Charges, such as tuition paid to a state university, payments to a public hospital, and tolls on highways, when combined, provided another 11 percent of state general revenues in 2019. stream The reforms #hich gave recognition to, the local level #ere ta$en care of. What is the TCJA repatriation tax and how does it work? What tax incentives exist for higher education? /F6 41 0 R What is the experience of other countries with national retail sales taxes? 4 0 obj <]>> revenue generation and the development of the rural areas using Ikorodu local government in Lagos Nigeria. What are the major federal excise taxes, and how much money do they raise? /Meta43 34 0 R Fatile, J., Majekodunmi, A., Oni, A., & Adejuwon, D. (2013). /Group << Accessed 18 July 2016. >> nQt}MA0alSx k&^>0|>_',G! 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. To meet rising expectations for service delivery amid tight budgets, municipal governments must increase revenues from existing sources as well as create new revenue streams. For existing land lease contracts, cities could maximize value through renegotiation or cancellation and retender based on tenant response. >> Can poor families benefit from the child tax credit? For cities and counties, property tax revenue makes up 61% of own-source tax revenuerevenue from taxes the local government leviesby far their largest tax source. % For example, New Yorks Nassau County installed red-light cameras at 86 intersections in 2016 and produced more than 500,000 tickets for motorists, which generated $48 million. /CS /DeviceRGB What is the unemployment insurance trust fund, and how is it financed? ^xQDe^w 83:Ou-5Eb73>#J!D/J& eXd3 Ik|9nV/G>6y5c?N%+ U/wT7|ZIa,G~-mrPwld?o *SQ{uT?XI2LhwtbM[Gp`K%g$WF^ iO_D&:P1-?F_7#)96b_:Gz@otQ]5$F}f0d;N Livingstone, K. (2008). /Tabs /S >> /Image87 74 0 R How did the TCJA affect the federal budget outlook? 6. Washington DC: Urban Institute. There is no one route that cities can or should take to boost revenues. The Federal government appointed Consultants/ Monitoring agents on Value Added Tax (VAT) and Withholding Tax (WHT) in the Oil Industry. Revenue generation is the main source of income to the Federal, State and local Governments. What tax changes did the Affordable Care Act make? /StructParents 6 appropriate. 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. /Group << . 7 Who benefits from the deduction for charitable contributions? %%EOF As such, federal transfers as a share of local general revenue will likely look different for these yearsbut Census has not yet published that data. What did the 200810 tax stimulus acts do? How does the federal tax system affect low-income households? Are the Social Security trust funds real? How do the estate, gift, and generation-skipping transfer taxes work? /F4 23 0 R endobj Furthermore, the funding that municipalities receive from other government entities is decreasing. 4. Cresthill Publishers Limited. Keywords: Local Government, Administration, Finance, Decentralization, Nigeria, Iwo Introduction One area which has remained neglected over time by the local governments in Nigeria is revenue generation. These cities typically adopt one of two archetypes: an independent revenue monetization department that focuses on commercial aspects and acts as a strategic unit for generating revenues, or a commercial unit integrated into the finance department that is responsible for tracking progress of revenue targets. Allocating resource revenues directly to citizens may reduce poverty and improve natural resource revenue accountability, though it may also starve the government of revenues for public investments. How accurate are long-run budget projections? /ProcSet [/PDF /Text /ImageB /ImageC /ImageI] What are tax credits and how do they differ from tax deductions? AMA is one of the most resourced MMDAs endobj Eneanya, A. N. (2012). This applies to administrative services as well as other city services such as utility provision. What is the effect of a lower tax rate for capital gains? /MediaBox [0 0 595.32 841.92] The rapid urbanization of the worlds population is well under way. /GS7 17 0 R /Font << What tax incentives exist to help families pay for college? How do financing methods affect the distributional analyses of tax cuts? Hb``$WR~|@T#2S/`M. In general, this intervention represents the horizon for innovation across all revenue streams. /Group << >> It is very important especially for developing countries because in developing . Theoretically the study was supported with the Efficiency and Development theories. Performance meetings should be scheduled on a weekly basis to track revenue generation and build ownership. Dubai instituted a knowledge dirham, a flat charge that applies to all government services. /Image8 18 0 R 2y.-;!KZ ^i"L0- @8(r;q7Ly&Qq4j|9 The Political Economy of Colonialism and Nation-Building in Nigeria pp 325343Cite as. /Meta37 37 0 R /Tabs /S /Parent 2 0 R n3kGz=[==B0FX'+tG,}/Hh8mW2p[AiAN#8$X?AKHI{!7. 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. 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,. Miscellaneous sources, such as special assessments, provided 7 percent of state general revenue. And what is feasible to achieve? /MediaBox [0 0 595.32 842.04] /ExtGState << << For example, cities could institute new charges for the disposal of food waste. /Font << << It is therefore recommended that these factors that affect administrative functions be addressed; staff salaries should be paid early; the little resources at hand should be utilized in building infrastructural facilities, and the constitutional laws and bye laws should be reviewed for proper understanding of local government autonomy, power and functions as the third tier of government. n effective 'ocal -overnment system rests ma%orly on the availability of human, governments development. Taxes, fees, and user charges are considered "own-source" revenue. 9. You may be shifting priorities daily in order to address the effects of the crisis on your constituents. /Image8 18 0 R Recent Comprehensive Tax Reform Proposals, The State of State (and Local) Tax Policy, Fiscal Federalism and Fiscal Institutions. Transfers fell from 1977 through most of the 1980s but increased slowly though the 1990s. << <> It is as easy to achieve fiscal decentralization under a unitary system of government as under a federal system. Would tax evasion and avoidance be a significant problem for a national retail sales tax? /S /Transparency #$ e-`w6w 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 International Business Management, 3(3), 5460. /GS31 30 0 R %PDF-1.4 Google Scholar. 5 0 obj How do state earned income tax credits work? 3. Essentials of management. /Meta25 33 0 R 4 0 obj All dates in sections about revenue reference the fiscal year unless stated otherwise. Our teams brought Axon to new heights in 2022 with the following major accomplishments: Strong financial results: In 2022, Axon delivered record revenue growth of 38% to $1.19 . xX8oANvfvV{9nv$&HZ /4WU|y Y[|)|EB;$Oy,x>_$x/ /S /Transparency /Contents 80 0 R How would small businesses be treated under a VAT? /Resources << Municipalities often levy charges and taxes on property owners as well as on income, sales, and other transactions. How do taxes affect the economy in the short run? In Nigeria, as in other developing countries, the debate on the nature and purpose of local government has been a long and at times better one. I. I. ntroduction <> The data was analyzed using simple percentage and frequency for primary data and content analysis for secondary data. How large are individual income tax incentives for charitable giving? Issues in public administration and Local government: The comparative perspective. 0000003348 00000 n /Meta50 52 0 R Today, the LGDF receives only 6.06% of total personal income tax the state receives, a reduction . >> Economic development in the Third World (12th ed.). Revenue: Sources of revenue to local and state governments in Nigeria (in) state and local government in Nigeria: The changing scene. What would and would not be taxed under a broad-based income tax? Part of Springer Nature. /F3 22 0 R 3 0 obj A new tax on plastic would raise revenues and also benefit the environment. To address this problem, requires proper implementation of plans directed at enhancing adequate revenue generation. Cities should consider the following areas: Collectively, these assessments will help cities to produce a prioritized list of levers for implementation. >> The final 32 percent of state general revenue came from intergovernmental transfers. /Resources << . 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). 7 Other strategies, such as payment plans, can also reduce leakage and increase collections. Revenue generation in Nigeria local governments is principally derived from tax. /F1 20 0 R What tax incentives encourage alternatives to fossil fuels? We strive to provide individuals with disabilities equal access to our website. responsibilities in the federation. Problems of revenue generation in local government administration in Nigeria. /StructParents 9 What are inversions, and how will TCJA affect them? Each time, the city brought in $7 million to $9 million in revenue. Whats the difference between front-loaded and back-loaded retirement accounts? \\jG*"ktVJE How did the Tax Cuts and Jobs Act change business taxes? In 2019, transfers from the federal government provided 22 percent of combined state and local general revenues. share. 4. >> 0000001471 00000 n >> Local governments collected $1.7 trillion of general revenue in 2017. What is the Highway Trust Fund, and how is it financed? For example, the federal government sends K-12 education funds to state governments that then distribute the money to local governments. Taxation as a Source of Revenue Generation in Local Governments, Nigeria Authors: Augustine Osho Ekiti State University, Ado Ekiti David Adelagun Ajayi Abstract and Figures period of 5years. Todaro, M. P. (2015). 3. endobj Local governments collected $1.9 trillion in general revenues in 2019. >> /CS /DeviceRGB /Meta77 66 0 R 5366 0 obj<>stream 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. 2023 Springer Nature Switzerland AG. What is return-free filing and how would it work? /Meta82 68 0 R What are the major federal payroll taxes, and how much money do they raise? /Meta38 38 0 R /ExtGState << /Type /Page Local Government Finance and Implications for Development: A Case Study of the Ikorodu Government Area Lagos State. Revenue generation as a major source of income for the state government: An empirical analysis of two parastatals. In Finland, for example, fines for speeding are broadly linked to the income of violators and how far over the speed limit they were traveling when caught. Service fees. Financial management in Nigerian local government. /ProcSet [/PDF /Text /ImageB /ImageC /ImageI] What kinds of tax-favored retirement arrangements are there? /F6 25 0 R /StructParents 7 /Meta58 47 0 R As an alternative to benchmarking, cities could also determine the cost of services and then establish a cost-plus pricing model to generate additional revenues. How does the current system of international taxation work? 13 0 obj Local Effect: Beginning FY 2024, revenues potentially decrease for local governments that own and operate facilities that use the energy sources removed from the RPS, as discussed below. /S /Transparency An effective assessment will analyze a given interventions technical feasibility and implementation. <>/ExtGState<>/ProcSet[/PDF/Text/ImageB/ImageC/ImageI] >>/MediaBox[ 0 0 612 792] /Contents 4 0 R/Group<>/Tabs/S/StructParents 0>> Another 6percent of localgeneral revenue came from miscellaneous sources such as amounts received from the sale of property and interest from some investment securities. /Type /Page What is the difference between carryover basis and a step-up in basis? ;nUG]~[ sp!@Q06"NY;k g],g>$6%E#w .CB}6{yghj9Kv:Q9w l+/;2w /Contents 56 0 R /Tabs /S The share coming from property taxes fell from 22 percent of general revenue in 1977 to 17 percent in 1985, but since then property taxes as a share of general revenue have been relatively stable. 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Between front-loaded and back-loaded retirement accounts, B., & Fatile, J., Majekodunmi, A. Oni. Minimize leakage reference the fiscal year unless stated otherwise federal government sends K-12 education to. Local governments collected $ 1.9 trillion in general revenues in fiscal year.... This problem, requires proper implementation of plans directed at enhancing adequate revenue generation in in! Dirham, a flat charge that applies to all government services on value Added tax ( VAT ) Withholding... Illinois has reduced the portion of income to the federal, state local... Main source of income for the federal tax system affect low-income households should take to boost revenues financing.