The City of Makati was able to collect P7.54 billion in January alone, or more than half of its revenue target for 2017 due to a surge in real property and business taxes as enterprises emerged faster under a robust economy.
In a statement on Tuesday, Makati’s Office of the City Treasurer said it recorded P7.54 billion in January alone or 52 percent of its P14.5 billion revenue target for 2017.
In a report to Mayor Abby Binay, Officer in Charge (OIC) and Treasurer Jesusa Cuneta said the collection from real property taxes hit 87 percent of the P4.1 billion target, or P3.2 billion. It was a 12-percent hike from January 2016’s realty tax revenue.
The city also amassed 45 percent of its P8.4 billion target for business taxes, which amounted to P3.8 billion or 4 percent higher year-on-year.
Binay said she is optimistic that the city will fully attain, if not surpass, its revenue targets for the year.
“We are very thankful to our taxpayers, which include the Makati business community, residents and everyone who contributes to the city’s revenues. Rest assured that your city government will continue to sustain and enhance the reforms and innovations we have put in place to render more efficient and compassionate public service,” Binay said.
The Business Permits and Licensing Office (BPLO) showed that there were 29,225 renewals and 125 new applications approved in January.
As of March 8, the number of new businesses reached 669, with a combined paid-up capital of P3.5 billion.
Other revenue sources were also advancing in line with the city’s targets, according to the report. About 48 percent of the full year target of P602.9 million in fees and charges were already attained with P286.5 million collected so far.
Makati also received P88.6 million from the national government’s Internal Revenue Allotment (IRA), which covers 8 percent of its share under the 2017 national budget.
Among the mayor’s efforts in improving tax collection include more efficient frontline services; more systematic and faster processing of applications for permits and tax payments, particularly during the renewal period last January; and the absence of “fixers” roaming freely and offering illegal services inside the city hall.
Binay vowed to use technology to promote transparency in the city government, and expressed her desire to eventually implement a “no physical contact” policy in its transactions with the public.
Observing a strict policy to “restore discipline and order,” the City of Makati closed 149 establishments operating without a valid and proper business permit in January.