Quezon City's January tax take hits P2.5 billion

MANILA, Philippines -  The Quezon City government has collected P2.5 billion in taxes last month.

Treasurer Victor Endriga said collection perked up by mid-January as business tax revenues reached an unprecedented amount of P1,580,790,146 or a hike of P85.5 million more compared to the collection for the same period last year.

Regulatory and miscellaneous fees reached P195,563.782.49, an increase of P24,755,630.14 from P170,808,152.35 last year.

Real estate gross tax collection had already peaked at P459,573,221.77.

The city’s cash on hand in the bank was pegged at P7,122,920,250.31 at the close of banking hours on Feb. 5.        – Perseus Echeminada