QC collects P14 billion in business taxes

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TAX collection in Quezon City increased by 7.63 percent from January to October this year. Mayor Herbert Bautista said the office of the city treasurer reported that gross collection has reached P14.03 billion in taxes and fees as of October 24, an increase of nearly P1 billion compared to the same period last year. With the collection, QC’s cash on hand and in bank now stands at P13.53 billion. Bautista said business taxes, which serve as the city’s major income source, constitute the bulk of the collection, with P6.50 billion. The amount represents an increase of more than P738 million or 12.79 percent compared to the same period last year.

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