The Advanced Effective Revenue Collection Strategies

Overview:

Introduction

Revenue collection refers to the steps taken by a government agency to pursue unpaid debts owed by citizens. Taxes, license fees, fines, and fees for using state facilities are just a few examples of the many ways money can be made. The general and extensive collection of money for debts or money owing to corporations or individuals is known as revenue collection.

Why is the collection of money valuable? To ensure enough money is available to cover operating expenses, all governments must have efficient systems for revenue collecting in place. A yearly evaluation of all points of revenue collection, as well as the implementation of laws and regulations, are best practices.

Course Objectives:

At the end of this course, the participants will learn about:

• Be aware of the appropriate adjustments to the revised revenue collection instructions.
• Learn the technical details of the main procedures in the new standards for revenue collection.
• Discover the effects of revenue collection standards that are "rules-based" and "principles-based."

Targeted Audience:

• Accountants
• Tax consultants
• Experts in general taxation
• Tax experts working for advising firms
• Tax experts in the commercial and trade sectors
• Government employees
• Government institutions
• Internal tax managers or directors
• Tax enforcement agencies

Course Outline:

Unit 1:Introduction

• Introduction, IModule 1
• Overview of revenue collecting
• Must increase tax revenue
• OECD Recommendations
• Budgetary Policy
• Revenue as a percentage of GDP
• GDP to tax ratio: some statistics
• belief in the government
• Governmental Outlays
• State Tax vs. Federal Tax

Unit 2: Types of Revenue

• Income Tax
• Corporate Tax
• VAT / Sales Tax
• Custom Duty
• Excise Duty
• Others

Unit 3: Increasing the Tax Base 

• Mandatory Sales Tax/VAT Registration
• Support for Self-Evaluation
• Fair and effective refund procedure
• Having productive interactions with taxpayers
• Streamline the tax system

Unit 4: Additional Indirect Methods

• Tax Payments and Other Transactions are Linked
• Internet/mobile usage
• matching sales tax to purchases/sales
• the implementation of turnover taxes or fixed taxes

Unit5:  Budget

• Budget Formulation
• Stakeholders in the budget exercise
• Budget implementation

Unit 6: The Federal Tax Authority's Functions

• Reforms to the tax code reduce exemptions
• a sizable taxpayer unit
• Advance Tax Closing Loopholes Introduction
• Reduce corruption Effective System Performance Analysis of the M.I.S.
• Timely and accurate information

Unit 7: Tax Department Governance

• Better Governance
• Efficacious Board of Directors/Governance Composition
• Adding independent directors and other experts
• Consequences of poor leadership

Unit 8: The significance of internal audits

• The requirement for internal controls
• Successful Internal Inspections
• dependable auditing system
• Internal Auditor's Function