Cebu City confident of hitting RPT target of P1B
CEBU CITY, Philippines – The Cebu City Government is confident of hitting its 2018 revenue target of P1 billion from Real Property Taxes (RPT).
Arlene Rentuza, acting Cebu City Treasurer, said that as of November this year, the city has already collected P998.7 million in RPT or just P1.3 million short of its target with still a month left.
“We’re still computing the collection made this December but we are confident we can reach the P1-billion mark since the difference is now only small,” she added.
The City Treasurer’s Office (CTO), which is under the Bureau of Local Government Finance of the Department of Finance (BLGF – DOF), is mandated to collect local taxes in the city including RPT, and business taxes.
RPT collection will partly fund the executive department’s P8.1 billion budget for 2019.
For those who still haven’t paid their 2018 tax obligations, Rentuza encouraged them to do so to avoid the 25 percent penalty. The CTO, she added, is open until December 31.
“We will be open until December 31 because the succeeding days are Holidays… We will be back this January 3, and by that time, we will be asking surcharges (25 percent) as penalty for paying their tax schedules late,” Rentuza explained.
Subscribe to our regional newsletter
Disclaimer: The comments uploaded on this site do not necessarily represent or reflect the views of management and owner of Cebudailynews. We reserve the right to exclude comments that we deem to be inconsistent with our editorial standards.