CH earns over P2 billion in Q1

CEBU, Philippines - The Cebu City Government has already posted over P2 billion revenue collections as of April 23 this year, boosting the optimism of the City Treasurer’s Office that it will be able to meet its P4.4 billion annual target even before the year ends.

For the month of April alone, the city has collected a total of P130,544,133.34 in business taxes. The amount was relatively higher compared to the P15,559,157.80 in March and P16,517,231.34 in February.

The city however posted the highest business tax collections in January with a total amount of P459,021,408.18.

The total business taxes collected by the city since January is already at P621,641,930.66.

On the other hand, the total real property taxes collected as of April 23 is P387,023,518.28.

The income from other taxes since January 1 to April 23 amounted to P155,826,349.45.

To include the regulatory fees collected by the City Traffic Operations and Management amounting to P19,525,623.05, City Health Department and Civil Registrar Office amounting to P8,028,160 and Cebu City Environmental Sanitation Enforcement Team amounting to P33,800.00, the total revenues as of April 23 has reached P1,192,079,381.44.

The city’s income from income generating departments and offices such as Market, Slaughterhouse, Fort San Pedro, Cebu City Zoo, Condo Rental, Tubig Project and Cebu City Medical Center amounted to P44,827,420 since January 1 to April 23.

The total extra-ordinary receipts which comprise the income from socialized housing projects and income from the South Road Properties is pegged at P475,843,520.74.

The city’s Internal Revenue Allotment share is P92,996,803.00 per month which has accumulated to P371,987,212.00 for the months of January to April.

These bring the total income of the city from January 1 to April 23 to P2,084,737,534.24.

Emma Villarete, Assistant City Treasurer for Administration, said that they are confident to get their P4.4 billion target for the year. – (FREEMAN)