Saturday, October 11, 2014

Legazpi collects P413-M in taxes from January to June

The Legazpi City Treasurer’s Office posted a record high of total tax collection of Php413.4 million from January to June this year, higher than the Php381.5 million revenue take it had during comparative period last year, City Treasurer Carlita P. de Guzman said Wednesday.

According to De Guzman, the Php413.4-million revenue collection included the internal revenue allotment (IRA) of Php202.4 million, which the city government received in June as its share from the national government, and income from local taxes like tax revenue, Php177.6 million, and the non-tax revenue of Php33.3 million.

The tax revenue of this city came from the collected business taxes, other taxes and real property tax while the non-tax revenue is composed of regulatory fees, service income, other income and business income.

The CTO also received in June the amount of about Php 710,800 as its share from the Philippine Charity Sweepstakes Office (PCSO).

Mayor Noel E. Rosal expressed elation over the high tax collection of the CTO. He said that it is a clear symbol of the effectiveness and transparency of the city administration.

Rosal encouraged all taxpayers, particularly the big establishments, to pay their taxes promptly because it will help finance all various development programs and projects of the city for the benefit of the community and the constituents.

He also urged De Guzman to continue improving the tax collection to meet the 1:1 objective of the city administration, which means, that the local taxes should equal to the amount of the IRA that the city receives from the national government.

The city chief executive explained that part of the budget spent by the city government came from the IRA released by the Department of Budget and Management.

The IRA is an automatic appropriation distributed to all local government units without any further deliberations and action in both houses of Congress.

It is released by the DBM to its recipients on a monthly or quarterly basis.

Its main objective is to maintain a liquid condition for LGUs for the implementation of their development projects and programs that could led to a better business environment and open windows to economic and more employment opportunities, particularly in rural communities.--by Emmanuel P. Solis (PNA)
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