>> endobj As presently contained in the 1999 constitution, local governments receive 20 percent of the federation account. There is no one route that cities can or should take to boost revenues. Predicting Municipal Fiscal Distress: Aspiration or Reality? (2006). Once cities have identified their field of options, they must consider several questions before jumping into implementation: Which streams and interventions can generate the most revenues with a limited impact on stakeholders? We also look into the future in an. Lucy Dadayan (reports are updated quarterly), Surveying State Leaders on the State of State Taxes University of Lagos Press. 3 0 obj X-ray of Local government administration in Nigeria. /Image8 18 0 R /Meta65 57 0 R /Meta81 69 0 R Aransi, I. O. Revenue generation is the main source of income to the Federal, State and local Governments. 5/27/2020. 4. What is the experience of other countries with national retail sales taxes? In 2019, 4 percent of local government general revenue came directly from the federal government (e.g., federal funds for local transportation projects) and 31 percent came from state governments (the numbers do not sum to the total share from intergovernmental transfers because of rounding). /F1 20 0 R endobj Intergovernmental transfers accounted for 36 percent of local general revenue in 2017 (figure 1). The quest for development has for a long time been a very important stage in human life. >> 2.1.3 Sections 31 and 32 of the Local Government Financial and Accounting Regulations 2007 Filipatali, T. (2013). >> /ExtGState << Another 6percent of localgeneral revenue came from miscellaneous sources such as amounts received from the sale of property and interest from some investment securities. R[? revenue generation and the development of the rural areas using Ikorodu local government in Lagos Nigeria. What is the tax treatment of charitable contributions? /Parent 2 0 R This source of revenue is mostly cyclical; it grew sharply during the 2001 and the 200709 recessions, receding in both cases as the economy recovered (figure 4). Washington DC: Urban Institute. Global Journal of Management and Business Research Administration and Management, 13(4), 1226. xZs8hI6mzumvwn:ul7 z?0{v8,Vjq.W?_/NOfSXbyqhu0r}z2/6r>YmM%`@NUOv- https://www.grin.com/document/293498. /Meta40 35 0 R >> >> >> How do flexible spending accounts for health care expenses work? Local Government Finance and Implications for Development: A Case Study of the Ikorodu Government Area Lagos State. /GS7 17 0 R endobj >> wG xR^[ochg`>b$*~ :Eb~,m,-,Y*6X[F=3Y~d tizf6~`{v.Ng#{}}jc1X6fm;'_9 r:8q:O:8uJqnv=MmR 4 Keywords: Local Government, Federalism, Revenue Allocation and Fiscal Federalism 1. Public administration: Theory, analysis and application. How do taxes affect the economy in the short run? 3 0 obj Maintaining public support is critical to the longer-term viability of such efforts, and cities must create an attractive business climate. /Resources << 4 0 obj https://www.odi.org/events/282-innovations-poverty-reduction-role-local-government. endobj /Resources << endobj /F6 41 0 R Gkq;T$iH5p6m&C~W]'%Yv$Jq * /Tabs /S revenue (IGR) is the revenue that the local government generates within the area of its jurisdiction. What is foreign-derived intangible income and how is it taxed under the TCJA? \~x2{w6HZpV1 ~eh5u*d*pn1gs9WzfY+W)hh,O`\`k}[rHyU ;18HXS-xep]#2 jAI740-+-=tk3zdSzn*Qv8tC>"mTv{ 4X[w*qQ*@TLHYF\MQZjxU^VQqy hiJdNVhP Mq:=oD5QyU!WwH^_/6+_Gwg_vSLVe` -WL=:@N>X9VfEhlfN~ <=-y3e,KQ!CH[jy^{eTuyt\p\)?rj;7K80r;@66Auu:fdYfJ LG8D6 %$5 Elected officials have four primary revenue sources, each containing multiple levers. Economic development in the Third World (12th ed.). 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. Fines. /Group << Following the clear identification of interventions and opportunities, cities can set priorities based on social acceptance, economic impact, and ease of implementation. /Meta77 66 0 R HyTSwoc [5laQIBHADED2mtFOE.c}088GNg9w '0 Jb This was localities largest single source of tax revenue. /Type /Group /S /Transparency The survey research design was adopted for this study, with 414 staff of Ikorodu local government area as the population of the study. In addition, elected officials must strike a tricky balance between raising taxes and fees and maintaining public support. Aravind Boddupalli and Kim Rueben (2021), Assessing Fiscal Capacities of States: A Representative Revenue SystemRepresentative Expenditure System Approach, Fiscal Year 2012 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. 9 0 obj What does it mean for a government program to be off-budget? /CS /DeviceRGB /CS /DeviceRGB /CS /DeviceRGB Impact on economy. 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. /Meta82 68 0 R How do US corporate income tax rates and revenues compare with other countries? 4 McKinsey_Website_Accessibility@mckinsey.com. 7. share. It is therefore suggested that the level of economic dependence on coal widely varies, and some, but not all, local governments will require financial assistance after the coal phase-out. Aravind Boddupalli, Tracy Gordon, and Lourdes German (2021), State and Local Government Revenues and Racial Disparities Eneanya, A. N. (2012). Today, the LGDF receives only 6.06% of total personal income tax the state receives, a reduction . When renegotiating existing leases, several levers can be utilized, such as increasing allowable floor-to-area ratio (FAR), collecting penalties for violations, amending contract duration and payment terms, and modifying plot use. /Resources << 2 0 obj Why do low-income families use tax preparers? (2022). /F5 40 0 R What would the tax rate be under a national retail sales tax? Local governments received about 32 percent of their general revenue from state government transfers (including indirect federal funds) and 4 percent directly from the federal government. /GS31 30 0 R >> What are defined benefit retirement plans? >> /Image95 78 0 R This preparatory work generally consists of collecting the relevant data and developing the current revenue baseline. In Los Angeles, for instance, developers can obtain an expedited engineering permit for a surcharge of 40 percent of the permits cost. . /F1 20 0 R 0000003920 00000 n Randall, Megan, Tracy Gordon, Solomon Greene, and Erin Huffer. endobj /F2 21 0 R Candice Ferrette and Robert Brodsky, Red-light camera revenues jump in Nassau County,. Accessed 18 July 2016. <>stream 92so74oi J. /F10 61 0 R INTRODUCTION Nigeria is a sovereign nation. % /XObject << (2009). /ProcSet [/PDF /Text /ImageB /ImageC /ImageI] /ExtGState << City of Los Angeles Department of Public Works, Bureau of Engineering standard fee list. What are the sources of revenue for state governments? What tax changes did the Affordable Care Act make? Census of Governments, vol. 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. /Group << A review of revenue generation in Nigeria local government: A case study of Ekiti State. The revenue systems of these governments eroded while the workloads and scope on the expenditure side of the state and local system budget . What are Roth individual retirement accounts? /F2 21 0 R /Parent 2 0 R /F2 21 0 R Governments, with input from citizens, must decide how to manage risks /Resources << What tax incentives exist to help families pay for college? /Type /Group /Tabs /S >> How do state and local individual income taxes work? What are inversions, and how will TCJA affect them? This intervention is typically applicable to any paper-based transactions or services, such as business license fees, construction permit fees, or land registration fees. /Font << /Tabs /S <>/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>> Local government and finance in Nigeria in state and local government in Nigeria: The changing scene. What did the American Taxpayer Relief Act of 2012 do? 10. Strategic control and revenue generation: A critical success factor in local government using the balanced scorecard. What is the TCJA base erosion and anti-abuse tax and how does it work? How does the deduction for state and local taxes work? % /Tabs /S /ExtGState << /GS31 30 0 R 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. /Meta39 39 0 R /GS7 17 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. Taxes, fees, and user charges are considered "own-source" revenue. Local governments created with administrative and financial autonomy have two sources of revenue (internal and external) to promote development at the grassroot. >> 2.1.2 Section 81 of the Local Government Act, 1997 (amended) allows Local Government to mobilise revenue in form thof fees and taxes as specified in the 5 schedule. What are the major federal payroll taxes, and how much money do they raise? What are Opportunity Zones and how do they work? Do existing tax incentives increase homeownership? What are the benefits of return-free filing? endobj out of variations from the revenue generation capacities of component units. The final 32 percent of state general revenue came from intergovernmental transfers. >> % /F7 42 0 R Cities should consider the following areas: Collectively, these assessments will help cities to produce a prioritized list of levers for implementation. The potential effect on electricity prices is discussed in the Additional Comments section below. 0000003592 00000 n /ProcSet [/PDF /Text /ImageB /ImageC /ImageI] Edogbanya, A., & Sule, J. G. (2013). What is the difference between a tax-exclusive and tax-inclusive sales tax rate? /Resources << 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. 9evelopment is highly associated #ith, much revenue is needed to plan, execute and maintain infrastructures and facilities, developmental pro%ects li$e construction of accessible roads, building of public, schools, health care centers, construction of bridges among others are sources, generated from taxes, royalties, haulages, fines and, international governments. /Type /Page A simulation of 8,760 h year-round was performed for the provincial market containing the integrated generation plant without energy storage. Regarding dissipation, figure 4 shows the time series power curtailment of an integrated generation plant without energy storage. The research instruments used for data collection were questionnaire and interview. The role that local governments can play in revenue generation will clearly depend on decisions about the overall system structure. Uhunmwuangho, S. O., & Aibieyi, S. (2013, July). The Federal government appointed Consultants/ Monitoring agents on Value Added Tax (VAT) and Withholding Tax (WHT) in the Oil Industry. /Resources << Cresthill Publishers Limited. /GS31 30 0 R /Meta38 38 0 R /XObject << /Meta54 51 0 R Create new revenue streams. Never miss an insight. endobj The American Recovery and Reinvestment Act of 2009 created a sharp uptick in transfers from the federal government between 2009 and 2011, peaking at 25 percent of state and local revenues in 2010 and 2011, before falling back to 22 percent in 2012. /XObject << /Tabs /S How should distributional tables be interpreted? State governments collected $2.2 trillion of general revenues in 2019. Palgrave Macmillan, Cham. /F9 55 0 R 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. Sarah Jindra, Chicagos ticket amnesty program begins today, WGN9, November 10, 2015, wgntv.com. /MediaBox [0 0 595.32 842.04] As a result, local governments are continually forced to levying of non-property taxes and fees (Steiss et al, 2011,). How does the availability of tax-favored retirement saving affect national saving? 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. 2 0 obj /Group << Next, cities should perform a thorough gap analysis to define the potential revenue impact for any given stream. Optimizing land monetization has the potential to double baseline revenue from income-generating assets. Municipalities often levy charges and taxes on property owners as well as on income, sales, and other transactions. endobj 0v=.7&YP ?SfqZBEFowu8-RmHaav,Ax5dT# State and Local Finance Data: Exploring the Census of Governments. How might the taxation of capital gains be improved? /Tabs /S 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. 'ocal governments in, over a number of years. Care Act make local taxes work Accounting Regulations 2007 Filipatali, T. ( 2013 ) and anti-abuse tax how! And revenue generation capacities of component units governments created with administrative and Financial autonomy have two sources of for! Obj Maintaining public support on economy do taxes affect the economy in the World. 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