City collects 32 percent of projected revenue this year

BAGUIO CITY – (19 March 2021) – The city was able to collect around thirty two percent of the projected P1.904 billion revenue this year during the first two and a half months.

City Treasurer Alex Cabarrubias stated that as of March 14, 2021, the local government was able to collect some P608.6 million from both internal and external sources of revenue representing around 32 percent of the projected revenue that will be collected during the year.

He disclosed that of the estimated P160 million collection on real property taxes, the city was able to collect some P100.3 million representing 63 percent of the targeted collection.

Further, some 106 million was already collected from the targeted P203.2 million business taxes which represent 52 percent of the same.

On other taxes, the city treasury office was able to collect some 27.2 million out of the targeted P58.9 million revenue which accounts for 46 percent of the estimated collection.

For other fees and charges, Cabarrubias claimed that the local government was able to collect some P113.2 million out of the P352.8 million projected collection which represents 32 percent of the same.

Of the projected P125 million share of the local government from the operation of the Loakan-based Philippine Economic Zone Authority (PEZA) for this year, the city was able to get some P10.6 million which is equivalent to 8 percent of the projected revenue.

Last year, the local government realized a P90 million shortfall in the remittance of PEZA primarily because of the overall impact of the ongoing Corona Virus Disease (COVID) 2019 pandemic to the operation of the locators in the zoned.

The city treasurer cited that of the total P900 million projected revenue from local sources, the city was able to collect some P357.6 million representing 40 percent of the targeted collection for this year.

On the other hand, Cabarrubias stipulated that the national government was able to remit to the city some P251.1 million out of the P1,004 billion internal revenue allotment (IRA) for this year, saying that the remittance of the city’s share is updated based on existing policies of the concerned government agencies.

He revealed that the city’s IRA this year increased by P75 million based on the data 3 years back, thus, the city will be able to feel the impact of the pandemic in terms of its IRA by 2023.

By next year, he said that the IRA of local governments will increase because of the implementation of the Supreme Court (SC) decision that expanded the coverage of national taxes to include those that are collected by the Bureau of Customs, among other revenue-generating agencies.

However, Cabarrubias pointed out that there will be some functions of the national government that will be devolved to the local governments ranging from those lodged with the public works, environment, social welfare and development, agriculture among other departments.

He encouraged residents and business owners to continue paying their taxes on time as the same will be used by the city in funding the implementation of priority development projects and enhance the delivery of basic services to the people. – Dexter A. See

PIO_Baguio