CTO fails to reach 2010 target

CEBU, Philippines - The Cebu City Treasurer’s Office did not meet its target collection by the deadline last Thursday, however, was commended performing a lot better compared to the same period last year.

Of the P1,305,480,436.92 total tax assessment or the total expected to be collected last Thursday, only 44.49 percent or P580,833,411.64 was actually collected.

City Treasurer Ofelia Oliva said that this is better than the collection for the month of January last year where they only collected 35.39 percent of their target.

“This 44.49 percent is only as of January 20. Last year, it was already the end of the month yet we only collected 35 percent. Hopefully, by the January 31 this year, we will be able to collect 50 percent of our target,” Oliva said.

Oliva said that there are also some factors that prevent them from achieving their target like the choice of tax payers to pay their dues on an installment basis.

“Almost 90 percent of the tax payers chose to pay their taxes quarterly. Gitagaan man nato sila og chance aron dili sila bug-atan. So taxpayers may choose to pay annual, semi-annual or quarterly,” Oliva said.

Those who chose to pay on installment basis get constant reminders from the city government.

After January 20, the next deadline for the quarterly payment is on April 20.

The CTO was forced to open until 4 a.m. yesterday because they had to accommodate over 700 clients, who wanted to beat the deadline last Thursday to avoid penalties.

Those who were not able to beat the deadline will have to pay 25 percent surcharge over the total amount of tax due plus two percent interest which will start this month.

Oliva warned business establishments that have not renewed their business permits or have not registered their business. If the CTO finds out their violation, Oliva said that they have to pay a bigger penalty.

“We will institute various administrative and judicial remedies for them,” she said. (FREEMAN)