Most of Davao’s Revenue comes from Business Taxes

14Jan12

Flourishing business establishments resulting to high in business tax collection.

At least now Davao decreased its dependence on IRA which is actually not a bad thing.

THE bulk of Davao City’s total tax collection of P4.306 billion in 2011 came from business taxes with P766.871 million, the City Treasurer’s Office (CTO) announced Wednesday.

City Treasurer Rodrigo Riola, speaking at the weekly Club 888 Forum at the Marco Polo Hotel Davao, said the collection in business taxes represents an increase of 111.44 percent compared to the previous year.

CTO also reported that the P4.306-billion collection is P200 million higher than its target for 2011. The figure represented an increase of 363 percent from the P55-million excess in 2010.

Riola attributed the very high collection to the efficiency of their personnel in monitoring business establishments in the city. read more

(Carmelle Marie Harrow)



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