CH exceeds revenue goal for Q1

CEBU, Philippines - The Cebu City government has exceeded its business tax collection target for the first quarter this year by close to P200 million.

City Treasurer Diwa Cuevas said the city government had an actual collection of P593 million as against its P400 million target. The city has an annual target of  P1.6 billion.

Cuevas said they hit its first quarter target in less than a month because the amount was raised only from January 6 to 24.

"Sobra ang kwarta sa atong gi-expect nga ma-collect. Mas mo-increase pa ni kay wa pa na-account tanan," Cuevas said.

She added that the amount does not include the revenues generated from community tax certificates or cedula and other regulatory fees.

The amount will be used as additional funds for the city's projects and operations this year. The city has an annual budget of P5.89 billion this year.

The revenues, Cuevas said, will be used to sufficiently implement infrastructure projects; promote tourism, education and livelihood; incentives to the peace and order personnel, judges and prosecutors and assistance to the senior citizens, Barangay Health Workers (BHW), and Persons with Disabilities (PWD),  among others.

Apart from the business revenues, Cuevas also projected to collect at least P800 million in Real Property Tax (RPT) from the 204, 000 real property units recorded by CTO. (FREEMAN)