Revenue Generation – NBC Institute

TAX – Nov 2023 – L2 – Q6a – Tax Administration and Enforcement

Explain the functions and powers of the Nigerian Customs Service Board.

Question

The Nigeria Customs Service (NCS) is one of the major revenue-generating agencies for the Federal Government of Nigeria. The establishment of the Nigerian Customs Service Board, which is under the control of the Federal Ministry of Finance, is contained in section 1 of the Nigerian Customs Service Board Act Cap.C45 LFN 2004 (as amended). The Board is responsible for the administration of the Customs and Excise Management Act.

Required:
Explain the functions and powers of the Board. (5 Marks)

Answer

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Tags: Customs and Excise Management Act, Federal Ministry of Finance, Nigeria Customs Service, Revenue Generation
Level: Level 2

Topic: Tax Administration and Enforcement

PSAF – May 2022 – L2 – SA – Q3 – Government Revenue

Identify the powers and functions of state boards of internal revenue and other agencies in revenue generation.

Question

Revenue generation is an important role carried out by some agencies of government with a view to meeting the expenditure of government, required for taking care of the welfare of the citizens. Revenue Mobilisation, Allocation and Fiscal Commission Act 1989 specifically mentioned some powers and functions of the Commission.

Required:
a. Identify FOUR powers and responsibilities of State Board of Internal Revenue Service in Nigeria. (4 Marks)
b. Explain FOUR specific functions of the Department of Petroleum Resources (DPR). (4 Marks)
c. Highlight SIX powers entrusted to the Revenue Mobilisation, Allocation and Fiscal Commission. (6 Marks)
d. Explain THREE sources of revenue payable to the federation account in Nigeria. (6 Marks)

Answer

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Tags: Fiscal Policy, Government Agencies, Petroleum Revenue, Revenue Generation, Taxation
Level: Level 2

Topic: Government Revenue
Series: MAY 2022

PSA&F – Nov 2019 – L2 – Q4b – Fiscal Policy and Public Finance

Discusses circumstances under which debt financing is appropriate and identifies four documents needed for the issuance of bonds.

Question

Public projects can be financed through debt, taxation, and other related revenue. The choice of any one method depends on the objective and the overall long-term implications for the economy.

Required:

Discuss TWO circumstances under which debt financing is appropriate.
Identify FOUR documents required for the issuance of bonds to a state or local government.

Answer

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Tags: Bonds, Debt Financing, Public Projects, Public Sector, Revenue Generation
Level: Level 2

Topic: Fiscal Policy and Public Finance
Series: NOV 2019

TX – May 2019 – L3 – Q1d – Tax Planning

Discuss circumstances under which government should run state enterprises as business entities to increase revenue.

Question

Some political analysts have often made the claim that governments over the world should create enabling environments for private businesses to flourish, including granting tax incentives as a way of creating jobs for the unemployed youth, and that governments should not directly engage in business. They sum this up often with the statement that “Government has no business doing business.” Others, however, hold a contrary view on this matter, making this an endless debate.

Required:

Under what circumstance would you encourage the running of state enterprises as business entities by the government to increase revenue as against the imposition of new taxes for the same purpose?
(5 marks)

Answer

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Tags: Government Policy, Public Sector, Revenue Generation, State Enterprises, Taxation
Level: Level 3

Topic: Tax planning
Series: MAY 2019

TAX – Nov 2023 – L2 – Q6a – Tax Administration and Enforcement

Explain the functions and powers of the Nigerian Customs Service Board.

Question

Required:
Explain the functions and powers of the Board. (5 Marks)

Answer

Find Related Questions by Tags, levels, etc.

Tags: Customs and Excise Management Act, Federal Ministry of Finance, Nigeria Customs Service, Revenue Generation
Level: Level 2

Topic: Tax Administration and Enforcement

PSAF – May 2022 – L2 – SA – Q3 – Government Revenue

Identify the powers and functions of state boards of internal revenue and other agencies in revenue generation.

Question

Answer

Find Related Questions by Tags, levels, etc.

Tags: Fiscal Policy, Government Agencies, Petroleum Revenue, Revenue Generation, Taxation
Level: Level 2

Topic: Government Revenue
Series: MAY 2022

PSA&F – Nov 2019 – L2 – Q4b – Fiscal Policy and Public Finance

Discusses circumstances under which debt financing is appropriate and identifies four documents needed for the issuance of bonds.

Question

Public projects can be financed through debt, taxation, and other related revenue. The choice of any one method depends on the objective and the overall long-term implications for the economy.

Required:

Discuss TWO circumstances under which debt financing is appropriate.
Identify FOUR documents required for the issuance of bonds to a state or local government.

Answer

Find Related Questions by Tags, levels, etc.

Tags: Bonds, Debt Financing, Public Projects, Public Sector, Revenue Generation
Level: Level 2

Topic: Fiscal Policy and Public Finance
Series: NOV 2019

TX – May 2019 – L3 – Q1d – Tax Planning

Discuss circumstances under which government should run state enterprises as business entities to increase revenue.

Question

Required:

Answer

Find Related Questions by Tags, levels, etc.

Tags: Government Policy, Public Sector, Revenue Generation, State Enterprises, Taxation
Level: Level 3

Topic: Tax planning
Series: MAY 2019

Question Tag: Revenue Generation

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TAX – Nov 2023 – L2 – Q6a – Tax Administration and Enforcement

Explain the functions and powers of the Nigerian Customs Service Board.

PSAF – May 2022 – L2 – SA – Q3 – Government Revenue

Identify the powers and functions of state boards of internal revenue and other agencies in revenue generation.

PSA&F – Nov 2019 – L2 – Q4b – Fiscal Policy and Public Finance

Discusses circumstances under which debt financing is appropriate and identifies four documents needed for the issuance of bonds.

TX – May 2019 – L3 – Q1d – Tax Planning

Discuss circumstances under which government should run state enterprises as business entities to increase revenue.

TAX – Nov 2023 – L2 – Q6a – Tax Administration and Enforcement

Explain the functions and powers of the Nigerian Customs Service Board.

PSAF – May 2022 – L2 – SA – Q3 – Government Revenue

Identify the powers and functions of state boards of internal revenue and other agencies in revenue generation.

PSA&F – Nov 2019 – L2 – Q4b – Fiscal Policy and Public Finance

Discusses circumstances under which debt financing is appropriate and identifies four documents needed for the issuance of bonds.

TX – May 2019 – L3 – Q1d – Tax Planning

Discuss circumstances under which government should run state enterprises as business entities to increase revenue.

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Question Tag: Revenue Generation

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TAX – Nov 2023 – L2 – Q6a – Tax Administration and Enforcement

Explain the functions and powers of the Nigerian Customs Service Board.

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PSAF – May 2022 – L2 – SA – Q3 – Government Revenue

Identify the powers and functions of state boards of internal revenue and other agencies in revenue generation.

You're reporting an error for "PSAF – May 2022 – L2 – SA – Q3 – Government Revenue"

PSA&F – Nov 2019 – L2 – Q4b – Fiscal Policy and Public Finance

Discusses circumstances under which debt financing is appropriate and identifies four documents needed for the issuance of bonds.

You're reporting an error for "PSA&F – Nov 2019 – L2 – Q4b – Fiscal Policy and Public Finance"

TX – May 2019 – L3 – Q1d – Tax Planning

Discuss circumstances under which government should run state enterprises as business entities to increase revenue.

You're reporting an error for "TX – May 2019 – L3 – Q1d – Tax Planning"

TAX – Nov 2023 – L2 – Q6a – Tax Administration and Enforcement

Explain the functions and powers of the Nigerian Customs Service Board.

You're reporting an error for "TAX – Nov 2023 – L2 – Q6a – Tax Administration and Enforcement"

PSAF – May 2022 – L2 – SA – Q3 – Government Revenue

Identify the powers and functions of state boards of internal revenue and other agencies in revenue generation.

You're reporting an error for "PSAF – May 2022 – L2 – SA – Q3 – Government Revenue"

PSA&F – Nov 2019 – L2 – Q4b – Fiscal Policy and Public Finance

Discusses circumstances under which debt financing is appropriate and identifies four documents needed for the issuance of bonds.

You're reporting an error for "PSA&F – Nov 2019 – L2 – Q4b – Fiscal Policy and Public Finance"

TX – May 2019 – L3 – Q1d – Tax Planning

Discuss circumstances under which government should run state enterprises as business entities to increase revenue.

You're reporting an error for "TX – May 2019 – L3 – Q1d – Tax Planning"

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