Effective Framework for Revenue Forecasting for Tax Authorities

£3,400.00

Specs

Category:

Description

Introduction

Effective Framework for Revenue Forecasting for Tax Authorities  is a critical aspect of fiscal planning for governments at all levels, from local municipalities to national administrations. It involves predicting the revenue generated from various taxation sources over a specific fiscal year. Accurate tax revenue forecasts are essential for policymakers to make informed decisions regarding budget allocations, expenditure priorities, and fiscal policies.

Participants in this course will understand that tax revenue forecasting is a complex and multifaceted process that requires a combination of economic analysis, statistical modelling, and policy expertise. By developing accurate and reliable revenue forecasts, governments can better manage their finances, support economic growth, and meet the needs of their citizens.

Challenges in Effective Framework for Revenue Forecasting for Tax Authorities

  • Economic Uncertainty
  • Changing Tax Policies
  • Behavioural Response
  • Data Limitations

Course Content

  • Statistical Methods: Time series analysis and regression analysis are commonly used to analyse historical tax data and identify trends and patterns that inform revenue forecasts.
  • Econometric Models: integrate economic variables such as GDP growth, inflation and unemployment rates with tax revenue data to develop more robust forecasts.
  • Machine Learning: algorithms can analyse large datasets and identify complex relationships between variables, offering potential improvements in forecast accuracy.
  • Expert Judgement: play a role in tax revenue forecasting, particularly when historical data may be limited or unreliable.

Learning Outcomes

  • Solid grasp of fundamental taxation forecasting principles
  • Develop skills in data analysis techniques, including data cleaning, manipulation and visualisation.
  • Educate trainees on economic indicators, trends, and factors influencing tax revenue.
  • Identify and assess risks that could affect tax revenue forecasts, such as changes in taxpayer behaviour, economic downturns, or policy uncertainties.
  • Learn the importance of clear and concise communication in presenting tax revenue forecasts to policymakers, stakeholders and the public.

Event Details

Start date: 15 April 2024

End date: 20 April 2024

Start time: 09:00 a.m.

End time: 04:00 p.m.

Venue: Abuja, Nigeria

Product Enquiry