Tax and Revenue Management
Advanced Effective Revenue Collection Strategies
Overview:
Introduction:
This training program equips participants with advanced techniques to optimize revenue collection processes. Through innovative strategies, participants learn to enhance revenue streams, reduce leakage, and improve fiscal performance.
Program Objectives:
At the end of this program, the participants will learn about:
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Be aware of the appropriate adjustments to the revised revenue collection instructions.
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Learn the technical details of the main procedures in the new standards for revenue collection.
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Discover the effects of revenue collection standards that are "rules-based" and "principles-based."
Targeted Audience:
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Accountants.
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Tax consultants.
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Experts in general taxation.
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Tax experts working for advising firms, commercial and trade sectors.
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Government employees and institutions.
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Internal tax managers or directors.
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Tax enforcement agencies.
Program Outline:
Unit 1:
Introduction:
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Overview of Revenue Collecting.
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Must Increase Tax Revenue.
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OECD Recommendations.
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Budgetary Policy.
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Revenue as a Percentage of GDP.
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GDP to Tax Ratio: Some Statistics.
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Belief in the Government and Governmental Outlays.
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State Tax vs. Federal Tax.
Unit 2:
Types of Revenue:
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Income Tax.
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Corporate Tax.
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VAT / Sales Tax.
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Custom Duty.
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Excise Duty.
Unit 3:
Increasing the Tax Base:
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Mandatory Sales Tax/VAT Registration.
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Support for Self-Evaluation.
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Fair and Effective Refund Procedure.
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Having Productive Interactions with Taxpayers.
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Streamline the Tax System.
Unit 4:
Additional Indirect Methods:
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Tax Payments and Other Transactions are Linked.
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Internet/Mobile Usage.
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Matching Sales Tax to Purchases/Sales.
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The Implementation of Turnover Taxes or Fixed Taxes.
Unit 5:
Budget:
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Budget Formulation.
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Stakeholders in the Budget Exercise.
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Budget Implementation.
Unit 6:
The Federal Tax Authority's Functions:
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Reforms to the Tax Code Reduce Exemptions.
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A Sizeable Taxpayer Unit.
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Advance Tax Closing Loopholes Introduction.
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Reduce Corruption Effective System Performance Analysis of the M.I.S.
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Timely and Accurate Information.
Unit 7:
Tax Department Governance:
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Better Governance.
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Efficacious Board of Directors/Governance Composition.
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Adding Independent Directors and Other Experts.
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Consequences of Poor Leadership.
Unit 8:
The Significance of Internal Audits:
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The Requirement for Internal Controls.
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Successful Internal Inspections.
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Dependable Auditing System.
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Internal Auditor's Function.
Unit 9:
Tax Policy Evaluation:
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Assessing Tax Policy Effectiveness.
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Impact Analysis of Tax Reforms.
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Evaluating Tax Incentives and Expenditures.
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Cost-Benefit Analysis of Tax Policies.
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Stakeholder Consultation and Feedback.
Unit 10:
International Taxation:
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Overview of International Taxation Principles.
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Double Taxation Treaties and Agreements.
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Transfer Pricing and Cross-Border Transactions.
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Tax Havens and Offshore Financial Centers.
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Global Tax Compliance and Reporting Standards.