/Image8 18 0 R 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. endobj /Image8 18 0 R =s`Eu00Fu@dH*e&PtD\ \ v B#L2]\m How would small businesses be treated under a VAT? 203 copies of the questionnaire were administered to staff of Ikorodu local government who were simple randomly selected of which 188 (92.6%) were retrieved while 15 (7.4%) copies were not retrieved. 1 0 obj What is global intangible low-taxed income and how is it taxed under the TCJA? N')].uJr 8. endobj What did the Presidents Advisory Panel on Federal Tax Reform say about the national retail sales tax? How does the tax exclusion for employer-sponsored health insurance work? What tax incentives encourage alternatives to fossil fuels? 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. The Nigerian political system is of a federal one which implies that all the three tiers of government should each function to provide good, Its time to change it, CityMetric, March 12, 2018, citymetric.com. ;nUG]~[ sp!@Q06"NY;k g],g>$6%E#w .CB}6{yghj9Kv:Q9w l+/;2w This charge generates more than $100 million in revenue each year. endobj How are different consumption taxes related? >> 1 How do phaseouts of tax provisions affect taxpayers? Predicting Municipal Fiscal Distress: Aspiration or Reality? <>/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>> 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 . /GS31 30 0 R What are the sources of revenue for the federal government? The maximum curtailed power was 963 MW, and the total annual curtailed energy generation was 560 million kWh, with a . /F1 20 0 R These fines would promote environmentally responsible behavior as well as create a viable revenue stream for the city. out of variations from the revenue generation capacities of component units. Nicole Badstuber, London congestion charge has been a huge success. How did the TCJA affect tax expenditures? >> Most cities have yet to unlock the full potential of their existing revenue sources, let alone tap into new streams. INTRODUCTION Nigeria is a sovereign nation. How does the federal government spend its money? The capacity of local government to generate revenue internally is one very crucial consideration for the creation of a local council. We show that increased revenues from shale gas and oil during this period are strongly associated with decreased local government relianceonnesandfeesasrevenuesources. Dubai instituted a knowledge dirham, a flat charge that applies to all government services. /Meta62 60 0 R Create new revenue streams. /F2 21 0 R /Tabs /S 11 Local governments collected $1.9 trillion in general revenues in 2019. International Journal of Economics, Commerce and Management, 3(6), pp. (*(%8H8c- fd9@6_IjH9(3=DR1%? Cities can also raise revenues by increasing the number of transactions through various approaches. /F4 85 0 R To instill a culture of performance, organizations should set targets for net revenues and select key performance indicators (KPIs). /F9 55 0 R 92so74oi J. 1 0 obj 14 0 obj How do state and local corporate income taxes work? In general, this intervention represents the horizon for innovation across all revenue streams. %PDF-1.5 The study concludes that local government finance has a great impact on development as it is a major factor in getting adequate financial resources and has become a problem because of political inference in local government affairs. Who bears the burden of the corporate income tax? >> <>/ExtGState<>/ProcSet[/PDF/Text/ImageB/ImageC/ImageI] >>/MediaBox[ 0 0 612 792] /Contents 4 0 R/Group<>/Tabs/S/StructParents 0>> /Tabs /S How does the earned income tax credit affect poor families? Eneanya, A. N. (2012). Fatile, J., Majekodunmi, A., Oni, A., & Adejuwon, D. (2013). How does the tax system affect US competitiveness? How did the TCJA change taxes of families with children? >> <]>> /XObject << endobj Please email us at: 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. What is the size of the opportunity? Development which is a necessity in every society can be achieved to a great extent with adequate resources. endobj Accessed 18 July 2016. The revenue generated is utilized by states and its functional departments for meeting the expenditures on infrastructure, public transportation, sanitation, legal systems, public safety, education, health care systems, military . As presently contained in the 1999 constitution, local governments receive 20 percent of the federation account. Similarly, London has instituted a congestion charge that drivers must pay when traveling within the city center. 10 0 obj 7 Other strategies, such as payment plans, can also reduce leakage and increase collections. Todaro, M. P. (2015). 7 0 obj Miscellaneous sources, such as special assessments, provided 7 percent of state general revenue. /CS /DeviceRGB >> VIP services can also be offered where increased fee levels guarantee higher quality. G$\0#?; /Meta39 39 0 R /F5 40 0 R By doing so, the people's interest would be geared towards giving their maximum support to the local government which would lead to the development of the rural area? )U!$5X3/9 ($5j%V*'&*r" (,!!0b;C2( I8/ %PDF-1.4 % \\jG*"ktVJE Assessing Fiscal Capacities of States: A Representative Revenue SystemRepresentative Expenditure System Approach, Fiscal Year 2012. Washington DC: Urban Institute. What is the Canadian experience with a VAT? Do all people eligible for the EITC participate? /Image8 18 0 R /Meta37 37 0 R stream How do state and local individual income taxes work? >> This category involves enhancing internal effectiveness of city teams to generate more revenues without visible impact to the public. What would and would not be taxed under a broad-based income tax? <> /F10 61 0 R >> To guide price hikes, cities could use benchmarks to determine the acceptable range. Meanwhile, housing-program transfers are about 40 percent of federal transfers to local governments. Thus, the 'ocal government cannot embar$, 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. Lucy Dadayan and Kim Rueben (2021), More Than Fines and Fees: Incorporating Equity into City Revenue Strategies The research instruments used for data collection were questionnaire and interview. /Contents 79 0 R Dibie, R. A. Strategic control and revenue generation: A critical success factor in local government using the balanced scorecard. Why is the VAT administratively superior to a retail sales tax? /MediaBox [0 0 595.32 842.04] /Meta43 34 0 R The Political Economy of Colonialism and Nation-Building in Nigeria, https://doi.org/10.1007/978-3-030-73875-4_17, Shipping restrictions may apply, check to see if you are impacted, https://www.odi.org/events/282-innovations-poverty-reduction-role-local-government, Political Science and International Studies, Political Science and International Studies (R0), Tax calculation will be finalised during checkout. 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. << /GS7 17 0 R The City of Chicago has instituted such a program several times over the past two decades. /StructParents 8 /Meta37 37 0 R >> /Meta41 36 0 R /Type /Group What can state and local sales taxes tell us about a national retail sales tax? Gordon, Tracy, Richard Auxier, and John Iselin. /Parent 2 0 R stream However, the state government transfer total includes indirect federal funds that are initially allocated to states. Local governments collected $1.7 trillion of general revenue in 2017. In addition, to help gauge the likelihood and tenor of social acceptance prior to forging ahead with implementation, cities could consider conducting a citizen sentiment survey to understand how receptive residents might be to specific changes in fee structures and charges. 13 0 obj First, to identify the relevant revenue streams and which interventions to apply, cities should determine the relevant data and revenue baselines. /Image8 18 0 R Dubai introduces innovation fees for government transactions, Khaleej Times, January 30, 2018, khaleejtimes.com. Governments, with input from citizens, must decide how to manage risks Revenue sources and economic growth in Nigeria: An appraisal. /Resources << How should distributional tables be interpreted? Unlocking the full potential of city revenues. 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. /GS7 17 0 R How do state earned income tax credits work? /F5 40 0 R The principal aims of creating local governments were as follows: 1. 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. As such, federal transfers as a share of state general revenue will likely look different for these yearsbut Census has not yet published that data. /Image8 18 0 R 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. China Constitution of Federal Republic of Nigeria (1999). /StructParents 0 What is foreign-derived intangible income and how is it taxed under the TCJA? 11 0 obj What are health reimbursement arrangements and how do they work? /ProcSet [/PDF /Text /ImageB /ImageC /ImageI] Two Decades in Effect: Volume-Based Waste Fee System in South Korea, Ministry of Environment, South Korea, January 2016. City assets and investments. /Resources << Recent Comprehensive Tax Reform Proposals, The State of State (and Local) Tax Policy, Fiscal Federalism and Fiscal Institutions. N Taxes, fees, and user charges are considered "own-source" revenue. Local governments include county governments, municipalities, townships, special districts (such as water and sewage authorities), and school districts. "F$H:R!zFQd?r9\A&GrQhE]a4zBgE#H *B=0HIpp0MxJ$D1D, VKYdE"EI2EBGt4MzNr!YK ?%_&#(0J:EAiQ(()WT6U@P+!~mDe!hh/']B/?a0nhF!X8kc&5S6lIa2cKMA!E#dV(kel }}Cq9 Meanwhile, revenue from sales taxes steadily increased from 5 percent to 7 percent between 1977 to 2017 (figure 2). << What would the tax rate be under a national retail sales tax? This preparatory work generally consists of collecting the relevant data and developing the current revenue baseline. 5 0000003348 00000 n Catawba Publishing Company. 13 0 obj What are the sources of revenue for local governments? /XObject << (2009). >> In our experience, governments can capture significant valueup to 50 percent of potential additional revenuesby implementing measures linked to effectiveness such as enhancing collections and audit processes or better asset monetization. Okwori, J., & Sule, A. Tax as a financial charge, is the main source of revenue generation for any government. What tax changes did the Affordable Care Act make? What are the economic effects of the Tax Cuts and Jobs Act? (2016). 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). Local governments created with administrative and financial autonomy have two sources of revenue (internal and external) to promote development at the grassroot. /F3 22 0 R /GS7 17 0 R Some are widely practiced, while others represent emerging and innovative options for city governments to pursue. /XObject << 0000000016 00000 n What is the difference between zero rating and exempting a good in the VAT? startxref xb```b``a`24(!" endobj /Meta49 54 0 R We strive to provide individuals with disabilities equal access to our website. How might the tax exclusion for employer-sponsored health insurance (ESI) be reformed? 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. 3. The logic is that, in areas where the revenue capacity is high, a relative higher tax . Elected officials have four primary revenue sources, each containing multiple levers. Nicole Badstuber, London congestion charge has been a huge success. 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). Financial management in Nigerian local government. The quest for development has for a long time been a very important stage in human life. /Meta77 66 0 R Impact on economy. 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