UTILIZING APPROVED TAXES AND LEVIES COLLECTION ACT2004 FOR EFFECTIVE REVENUE GENERATION ATSTATES LEVEL: THE ROLES OFCHARTERED ACCOUNTANTS

Taxes and levies are important sources of revenue generation all over

the world, accounting for the greater part of the revenue that is annually

generated in most of the advanced economies of the world (Dandago,

2011). In an economy with more than one tier of government, efforts

must be made to ensure that each tier of government is in control of

some taxes and levies so that revenue assurance could be equitably

established at each tier of government. Before the 1997 budget

pronouncement, Nigerian taxpayers had been complaining of multiple

taxes to the extent that businesses were suffering from heavy cost of

production, which ultimately had been bringing about high prices of

goods and services.