Taguig wins awards for revenue growth

MANILA, Philippines — Taguig City has received awards for its proficiency in managing business and real property taxes.

At the Bureau of Local Government Finance (BLGF)’s 37th Anniversary Stakeholders’ Recognition, Taguig won third place in local source revenue collections for fiscal years 2022 and 2023, fourth place in yearly growth of local source revenue, fourth place for the ratio of local source revenue to total current operating income, and fifth place for the ratio of local source revenue to total current operating income.

In 2023, Taguig ranked third among the highest-earning local government units (LGUs),  with a reported revenue of P13.54 billion, based on BLGF data.

This financial achievement is complemented by the city’s performance in the Creative Cities and Municipalities Congress of the Department of Trade and Industry, wherein Taguig secured the top spot in economic dynamism and was named the Most Improved Highly Urbanized City.

Taguig also ranked seventh in innovation and 10th among the Most Competitive Cities in the Highly Urbanized Cities category.

The city has been named one of the top five Most Business-Friendly LGUs for the City Level 1A Category for 2024 by the Philippine Chamber of Commerce and Industry.

“Our success in local revenue collection is not just about numbers – it’s about turning those numbers into efficient programs and services that improve the lives of every Taguigeño,” Mayor Lani Cayetano said.