P2 B revenue eyed for collection in 2020
The City Treasury Office said it will implement appropriate strategies to ensure that the local government is able to collect the over P2.03 billion projected income collection this year.
City Treasurer Alex Cabarrubias said that while the local government continues to exceed its projected income collection annually, the excess collections are not that huge to help fund the implementation of major development projects programmed by the city.
He said that based on the projections of the local government this year, the income collection is more than P200M higher compared to last year’s collections aside from the fact that Mayor Benjamin B. Magalong mandated the Local Finance Committee to ensure the collection of at least P300M income from available sources.
Among the strategies lined up by the City Treasury Office to achieve the projected income collection are the submission of a proposed ordinance for the increase in business taxes, sewerage, and garbage fees and other fees being levied by the city; the auction of the properties of delinquent taxpayers, the examination of the books of accounts of businesses operating in the city, and other feasible interventions that will sustain the improvement in the city’s financial position.
He said that after March 31 the local government will ascertain the properties of delinquent taxpayers which will be subjected to auction proceedings.
He said there are 12 personnel of the CTO who were trained in examining the books of accounts of businesses to ascertain whether or not they are declaring their actual sales.
Cabarrubias expressed his gratitude to the members of the city council for approving the revised schedule of market values of real properties, particularly land, but the projected income from such measure will only be realized next year as the same will take effect by 2021.
Last year, the local government was able to generate P1.89B income from internal and external sources, such as the city’s share from internal revenue allotment, taxes, fees, and share from the operation of the Philippine Economic Zone Authority. – PIO release