Cebu province’s income up by 10.5%

CEBU CITY, Philippines — Cebu, the country’s wealthiest province, is confident to collect more revenues this year.

This after the provincial government posted a P3.9 billion of income as of September, which is 10.53 percent higher than the figures they recorded in the same period in 2020.

The Capitol was able to collect income amounting to P3.5 billion in September 2020, based on the records from the Provincial Treasurer’s Office.

While bulk of the province’s income came from its share of the Internal Revenue Allotment (IRA), at around P3 billion, Lawyer Roy Salubre, provincial treasurer, said taxes they had collected from real properties contributed largely to the increase of revenue.

“Since we did appraisal in our real properties, our collection of real property taxes also increased. This is the result of the appraisal that took effect last July 1, 2020,” Salubre explained in Cebuano.

Aside from real property taxes, other high-income sources this year included taxes they collected from sand-and-gravel and quarry operators, business taxes and fees issued for various regulatory permits.

The Capitol is aiming to collect P5.5 billion for the fiscal year of 2021. This meant that they are now 71 percent from achieving their target figures.

Salubre expressed optimism that they would be able to reach their goal before the year ends.

“We still have four more months. We can achieve our target,” he added.

RELATED STORIES

Capitol reports 11% increase in 2020 income

For the 1st quarter of 2021, Cebu province is P128M richer

CSBT income gradually increasing – exec

/dbs