a. Powers and Responsibilities of State Board of Internal Revenue Service (4 Marks)

1. Assessment and Collection of Taxes: The Board is responsible for assessing and collecting personal income tax from individuals, including those in employment and self-employment.
2. Enforcement of Tax Laws: The Board ensures the enforcement of tax laws and regulations, including fines, penalties, and interests for non-compliance.
3. Issuance of Tax Clearance Certificates: The Board is empowered to issue tax clearance certificates to individuals and organizations upon compliance with tax regulations.
4. Collaboration with Other Agencies: The Board works with other government agencies in the collection and enforcement of taxes to ensure that revenue generation targets are met.

b. Functions of the Department of Petroleum Resources (DPR) (4 Marks)

1. Regulation of Oil and Gas Industry: DPR is responsible for ensuring compliance with oil and gas industry standards and regulations.
2. Issuance of Licenses and Permits: The DPR issues licenses for petroleum operations, including exploration, drilling, and marketing.
3. Environmental Protection: DPR monitors oil companies to ensure adherence to environmental protection standards, preventing oil spillage and pollution.
4. Revenue Collection: DPR collects royalties, taxes, and other levies from oil and gas companies on behalf of the government.

c. Powers of the Revenue Mobilisation, Allocation and Fiscal Commission (6 Marks)

1. Revenue Allocation Formula: The Commission is responsible for reviewing and recommending the revenue allocation formula to be adopted for the three tiers of government.
2. Monitoring Revenue Generation: The Commission monitors revenue generation activities of all government agencies and ensures compliance with revenue laws.
3. Advisory Role: The Commission advises the federal, state, and local governments on fiscal efficiency and revenue matters.
4. Disbursement of Revenue: The Commission ensures the proper disbursement of revenues collected into the Federation Account.
5. Auditing Revenue Agencies: The Commission has the authority to audit revenue-generating agencies to ensure compliance with the set standards.
6. Investigation of Mismanagement: The Commission can investigate cases of revenue mismanagement and take corrective actions where necessary.

d. Sources of Revenue Payable to the Federation Account (6 Marks)

1. Petroleum Profit Tax (PPT): This is a tax levied on the profits made by oil and gas companies operating in Nigeria.
2. Company Income Tax (CIT): CIT is a tax on the profits made by corporate organizations in Nigeria, payable to the federal government.
3. Customs Duties and Excise Taxes: These are taxes collected on imported and exported goods, as well as specific excise duties on goods produced within the country.