• 02/21/2019
  • 01:44 AM
League Online News
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MAKATI TAX COLLECTION RISES TO P815.6 MILLION IN JANUARY



MAKATI CITY – The Makati City government announced its total actual revenue collections from business and realty taxes climbed by P815.6 million in January last year.

 

Based on the initial report of the city’s Treasury Department, revenue from business tax increased by 12.17 percent while realty tax increased by 8.39 percent from a year earlier, for a combined total of P8.6 billion.

 

The city Business Tax Division received P4.8 billion from January 3 to 31 from last year’s P4.2 billion. On the other hand, the Real Property Tax Division garnered P3.9 billion against P3.6 billion in 2018.

 

Makati City Mayor Abigail Binay accounted the increase in tax collections to reforms she initiated at City Hall to make transactions more efficient and convenient for taxpayers, while promoting transparency and good governance.

 

These include the establishment of a Business One-Stop Shop at the ground floor of City Hall Building II, and streamlining of processes for business permit renewal and new applications.

 

“For the second time during my term as Mayor, the city has posted a two-digit increase in revenue collections. It is a clear proof that investor confidence in my administration continues to gain strength, as we actively pursue greater efficiency and transparency in governance,” Binay said.

 

The city mayor expressed her gratitude to businesses and landowners for being diligent and honest” in paying their taxes.

 

“You have the heartfelt gratitude of the people of Makati for your contributions to the city’s financial stability that has guaranteed the continuity and sustainability of our major social programs, as well as the timely launch of high-impact innovations in the way we serve Makatizens,” she added.

 

For 2018, the city posted P17.8 billion in total revenue collections, which was 14 percent higher than its revenue target and five percent higher than its 2017 total collections.

 

The bulk of revenues came from Business Tax with P9.1 billion, followed by Realty Tax with almost P6.2 billion.

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