Cebu City collects P3.6B in first half of 2014-A A +A
Sunday, August 10, 2014
THE Cebu City Government reported a P3.6-billion income for the first half of this year.
In a statement of revenue collection by the City Treasurer’s Office (CTO), the City was able to collect P578,252,418 in real property taxes from January to July.
As for business taxes, the City was able to generate a total of P1,233,493,644; P59,845,040 for regulatory fees; P66,663,161 for economic enterprise; P938,967,348 for extraordinary receipts; and P714,772,863 as the City’s share from the National Government’s Internal Revenue Allotment (IRA).
The regulatory fees are earnings from the City Traffic Operations Management, City Health Department, the City Registrar’s Office and the City Environmental Sanitation and Enforcement Team.
The economic enterprise fees, on the other hand, are revenues from income-generating offices, such as the market, abattoir, Fort San Pedro, zoo, and the Cebu City Medical Center, while the extraordinary receipts are revenues generated from the Division for the Welfare of the Urban Poor, the Slum Improvement and Resettlement program and the South Road Properties among others.
In an interview, City Treasurer Diwa Cuevas said she is optimistic they will be able to meet the P5.89 billion target income of the City for 2014. The amount will be used to fund this year’s annual budget.
With the remaining six months of the year, she said they will only have to raise at least P2.3 million.
According to Cuevas, they can meet the 2014 target as there are still business taxes and real property taxes that will be collected.
Aside from that, she said the City still has to collect P500 million from the IRA.
Cuevas said they would even exceed the target if they can already auction off some 300 real properties that have been forfeited in favor of the City due to a tax delinquency.
However, there is no definite schedule yet on when the auction will be. PDF
Published in the Sun.Star Cebu newspaper on August 11, 2014.