Advanced Effective Revenue Collection Strategies

Overview:

Introduction:

The training program is designed to equip professionals with cutting-edge techniques and tools to optimize revenue collection processes. As organizations face increasing financial pressures, it is critical to implement advanced strategies that ensure efficiency, accuracy, and compliance in revenue collection. This program will explore modern approaches to enhance revenue collection mechanisms, streamline financial operations, and manage receivables more effectively, contributing to improved financial health and sustainability.

Program Objectives:

At the end of this program, 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."

• Understand Advanced Revenue Collection Methods.

• Learn strategies to streamline revenue collection processes, reducing delays, errors, and inefficiencies.

• Explore techniques for maintaining positive relationships with clients and customers while ensuring timely and effective revenue collection.

Targeted Audience:

• Accountants.

• Tax consultants.

• Experts in general taxation.

• Tax experts working for advising firms, commercial and trade sectors.

• Government employees and institutions.

• Internal tax managers or directors.

• Tax enforcement agencies.

Program Outline:

Unit 1:

Introduction:

• 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 and Governmental Outlays.

• State Tax vs. Federal Tax.

Unit 2:

Types of Revenue:

• Income Tax.

• Corporate Tax.

• VAT / Sales Tax.

• Custom Duty.

• Excise Duty.

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.

Unit 5:

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 Sizeable 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.

Unit 9:

Tax Policy Evaluation:

• Assessing Tax Policy Effectiveness.

• Impact Analysis of Tax Reforms.

• Evaluating Tax Incentives and Expenditures.

• Cost-Benefit Analysis of Tax Policies.

• Stakeholder Consultation and Feedback.

Unit 10:

International Taxation:

• Overview of International Taxation Principles.

• Double Taxation Treaties and Agreements.

• Transfer Pricing and Cross-Border Transactions.

• Tax Havens and Offshore Financial Centers.

• Global Tax Compliance and Reporting Standards.