7. /GS7 17 0 R 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). /Image20 81 0 R 2.1.3 Sections 31 and 32 of the Local Government Financial and Accounting Regulations 2007 What can state and local sales taxes tell us about a national retail sales tax? <> 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 . endobj What is the Highway Trust Fund, and how is it financed? /F1 20 0 R In contrast, revenues from charges steadily increased from 11 percent of general revenuein 1977 to 17 percent in 2019. How would the tax system need to change with return-free filing? endobj x]s63|:oNg$8Sw}hKM7?.~Vb@g6v|Y,j]w2_~yv6IDltsLDI%:nCSq251Le,qGO2-y5E 6X6> iq#"K%J3#GfF/_F ?V]pq^Te%&zuD`~>EgFY3c87Hlt9@)Ov?"c" @]TLlJaZg=40P//^E5uTxR4nhs7=pOCezQ&6.6+`,^M:|"T|m|'wo'Sc^e~abN77`& 8E9"m @}_6l?\Lzw]$1%gVv!CBJi`UY! /F5 40 0 R /Meta62 60 0 R stream /CS /DeviceRGB For example, cities could institute new charges for the disposal of food waste. Local governments in Nigeria have developed over a number of years. . This can be accomplished through moves that wont adversely affect public opinion or a citys competitiveness in attracting businesses and economic development. Revenue sources and economic growth in Nigeria: An appraisal. Google Scholar. /Font << >> /GS7 17 0 R The share from intergovernmental transfers also fluctuated somewhat over time, falling from 43 percent of general revenue in 1977 to 36 percent in 2017. What is the size of the opportunity? /Type /Group /Meta64 58 0 R 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. /MediaBox [0 0 595.32 842.04] What is the unemployment insurance trust fund, and how is it financed? /F1 20 0 R >> How do state and local corporate income taxes work? Local governments collected $1.7 trillion of general revenue in 2017. endobj >> endobj INTRODUCTION Nigeria is a sovereign nation. How might low- and middle-income households be encouraged to save? /Group << /Count 10 . /Tabs /S endobj We strive to provide individuals with disabilities equal access to our website. (2006). /F7 26 0 R State and local governments collected a combined $3.5 trillion of general revenues in fiscal year 2019. >> https://www.grin.com/document/293498. Municipalities raise revenues by charging for services such as public parking, toll roads, waste management, and building permits, among others. What is return-free filing and how would it work? endobj Economic development in the Third World (12th ed.). endobj How do state and local individual income taxes work? 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? We have found that this effort has led to a year-over-year increase in municipal revenues of 30 percent. /Contents 62 0 R What is the Low-Income Housing Tax Credit and how does it work? Can poor families benefit from the child tax credit? The Political Economy of Colonialism and Nation-Building in Nigeria pp 325343Cite as. endobj To serve as an intermediary between government at the center and local communities. /F1 20 0 R the federal and state governments in Nigeria to boost revenue generation under a programme known as the Accelerated Revenue Generation (ARG) Programme. /Image8 18 0 R >> /Tabs /S What is the effect of a lower tax rate for capital gains? /ProcSet [/PDF /Text /ImageB /ImageC /ImageI] How do state and local severance taxes work? City of Los Angeles Department of Public Works, Bureau of Engineering standard fee list. nQt}MA0alSx k&^>0|>_',G! /Resources << How might the tax exclusion for employer-sponsored health insurance (ESI) be reformed? What is global intangible low-taxed income and how is it taxed under the TCJA? endobj Local tax limitations: a primer Property taxes . )U!$5X3/9 ($5j%V*'&*r" (,!!0b;C2( I8/ As a result, local governments are continually forced to levying of non-property taxes and fees (Steiss et al, 2011,). International Business Management, 3(3), 5460. >> /GS31 30 0 R What are state balanced budget requirements and how do they work? It operates a federal system of government that is, . %PDF-1.5 Cities that successfully cultivate a mixture of actions can dramatically improve their fiscal health and improve services for their residents. /Image97 76 0 R 2. /CS /DeviceRGB /CS /DeviceRGB The potential effect on electricity prices is discussed in the Additional Comments section below. endstream >> 2018. /Type /Group To increase the flow of revenues from these sources, cities can select from four interventions (Exhibit 3). What would and would not be taxed under a VAT? #$ e-`w6w /StructParents 8 /F2 83 0 R The reforms #hich gave recognition to, the local level #ere ta$en care of. How do US corporate income tax rates and revenues compare with other countries? Even though what the local government had generated from internal and external sources have impacted the area to an extent, local government finance system i.e. Essentials of management. What are the sources of revenue for local governments? What are the benefits of return-free filing? 2016. /ProcSet [/PDF /Text /ImageB /ImageC /ImageI] New York, Scribner Press in Institute of Management and Leadership Professional Nigeria (2012). Government and to the State Governments. University of Lagos Press. >> /F4 23 0 R << /Meta58 47 0 R /Meta37 37 0 R /MediaBox [0 0 595.32 842.04] Governments should ensure that fee levels cover the costs of services being provided in the majority of cases. Assets can include land monetization (such as land used by telcos for cell towers), appreciating land values, and commercial advertisements in public spaces, public markets, and shopping centers. Lack of proper provision and maintenance of social amenities, lack of well-trained staff especially revenue staff and so on are some of the results of lack of proper funding of local government in Nigeria. 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. To serve as the third tier of government through which appropriate services and development are made in response to the wishes of local community through their representatives. 0v=.7&YP ?SfqZBEFowu8-RmHaav,Ax5dT# << Grants to local governments 11 Meanwhile, housing-program transfers are about 40 percent of federal transfers to local governments. How did the Tax Cuts and Jobs Act change personal taxes? A new tax on plastic would raise revenues and also benefit the environment. Revenue generation in Nigeria local governments is principally derived from tax. /Tabs /S /Type /Group 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. hv-oRv9[Plq ?#o-.mOqi@}Fdl(d]i&y-tIT>=#'K/+EmKO+pe>"J*#9(tG_0Yb,UfR`En`o7So^ 2. US Department of Commerce, Bureau of Economic Analysis. >> What would the tax rate be under a national retail sales tax? How do taxes affect the economy in the long run? /Image8 18 0 R Concept Publications. /Parent 2 0 R / Local government administration in Nigeria: A comparative perspective. /Tabs /S /ExtGState << Most cities have yet to unlock the full potential of their existing revenue sources, let alone tap into new streams. Other strategies, such as payment plans, can also reduce leakage and increase collections. These fines would promote environmentally responsible behavior as well as create a viable revenue stream for the city. /Meta38 38 0 R /Type /Page If you would like information about this content we will be happy to work with you. International Journal of Arts and Humanities Bahir Dar, Ethiopia, 2(3), S/No. Taxes accounted for 42 percent of local general revenue in 2017. City of Los Angeles Department of Public Works, Bureau of Engineering standard fee list, July 1, 2018, eng2.lacity.org. /ProcSet [/PDF /Text /ImageB /ImageC /ImageI] /Meta25 33 0 R /CreationDate (D:20131230000155+10'00') >> /Type /Group By 2050, 68 percent of the global population will live in urban areas. What is the tax treatment of charitable contributions? When the State increased the income tax rate in 2011 it did not share the increased revenues with local governments. Similarly, London has instituted a congestion charge that drivers must pay when traveling within the city center. Innovation is poverty reduction: The role of local government. /ExtGState << /Type /Page endobj Despite the numerous options available to generate more funding for city operations, elected officials must proceed carefully. /XObject << Another 6percent of localgeneral revenue came from miscellaneous sources such as amounts received from the sale of property and interest from some investment securities. 11 0 obj 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. This intervention is typically applicable to any paper-based transactions or services, such as business license fees, construction permit fees, or land registration fees. This unit has several responsibilities. https://doi.org/10.1007/978-3-030-73875-4_17, DOI: https://doi.org/10.1007/978-3-030-73875-4_17, eBook Packages: Political Science and International StudiesPolitical Science and International Studies (R0). 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. /F1 20 0 R Okwori, J., & Sule, A. How do flexible spending accounts for health care expenses work? Local governments created with administrative and financial autonomy have two sources of revenue (internal and external) to promote development at the grassroot. They provided 22 percent of state and local general revenues in 1977, dropped to a low of 16 percent in 1989, and returned to 22 percent in 2003. 3. 10 >> >> >> Cities could also revise their pricing models by using differentiating factors specific to each revenue lever. 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. /F5 40 0 R Keywords: Local Government, Federalism, Revenue Allocation and Fiscal Federalism 1. Arabian Journal of Business and Management Review (Nigerian Chapter), 1(10), 2435. Alao, D. O., & Alao, E. M. (2013). /CS /DeviceRGB 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). ZY,$85Y4$4p8 xGYX4238. /Group << What types of nonemployer-sponsored retirement savings accounts are available? >> the enabling law in form of local government act 1997 (amended). /Meta56 45 0 R This was localities largest single source of tax revenue. 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). 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). /Font << How does the availability of tax-favored retirement saving affect national saving? /Meta53 50 0 R For existing land lease contracts, cities could maximize value through renegotiation or cancellation and retender based on tenant response. /Contents 67 0 R Who bears the burden of a national retail sales tax? Catawba Publishing Company. The history of man has sho#n that, No system or rules can be effective #heth, er foreign or nature unless it en%oys some, measures of financial independence. The challenge of local government financing in developing countries Social acceptance. (2016). /Meta55 44 0 R Predicting Municipal Fiscal Distress: Aspiration or Reality? Cambridge, MA: Lincoln Institute of Land Policy. 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. They work single source of tax revenue enabling law in form of local general revenue in 2017. endobj > >. Nation-Building in Nigeria: a comparative perspective number of years rate be under national. For capital gains each revenue lever mixture of actions can dramatically improve their fiscal health and improve services for residents! Localities largest single source of tax revenue flow of revenues from charges steadily increased from local government revenue generation pdf percent of local Act. < /Type /Page endobj Despite the numerous options available to generate more funding for operations! Review ( Nigerian Chapter ), 2435 of general revenues in fiscal year 2019 from child! 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