Capitol collects P3.9 billion in revenue as of September 2021

CEBU, Philippines —  The Capitol has collected around P3.9 billion as of the third quarter of 2021, a 10.53 percent increase from the P3.5 billion it recorded in the same period last year.

This is based on the comparative analysis report of the Provincial Treasurer’s Office on the revenue collected for fiscal year 2020-2021.

The bulk of the collection was sourced from the Internal Revenue Allotment (IRA) amounting to more than P3 billion, an increase of P205 million (7.18%) from the P2.8 billion for the same period last year.

Provincial Treasurer Roy Salubre said that aside from the IRA, the real property tax has also contributed much to the revenue collection.

“Mga 111% with regards to the locally sourced income by reason of our implementation of revised appraisal of the real property tax effective last July 1, 2020,” Salubre said.

The Capitol posted P419 million revenue on the tax and non- tax collection from January to September this year, an increase of 111.66% from the P198 million in 2020.

This includes the real property tax collection which is at P152 million, P87.7 million (135.43%) higher from P64 million last year.

Aside from the real property tax, the sand and gravel quarry permit also made a bulk of collection in the Capitol’s revenue.

Based on the data by the PTO, the collection for sand and gravel permit has reached P46.7 million from the P18 million last year.

“Ningkusog ang atong monitoring unya daghan na pud kaayo ang namayad sa pagkakaron,” Salubre explained.

Other source of revenue of the province is the Cebu South Bus Terminal (CSBT) which posted an increase in collection from P18 million in 2020 to P47.4 million from January to September this year.

For the provincial and district hospitals, however, there’s a decrease in collection as of September. The revenue from the province-owned hospitals is P115.5 million, a decrease of 60.13 percent from P289.7 million last year

The Capitol is now at 71 percent of its P5.5 billion target revenue collection for 2021. — GMR (FREEMAN)