Capitol positive to meet 2016 target collection

CEBU, Philippines - The Cebu provincial government is confident to reach or even surpass its target collection of P2.9 billion this year with its current income of P2 billion for the past eight months alone.

The P2 billion includes tax revenue collection, income from hospitals managed by the province, income from the Cebu South Bus Terminal, and other economic enterprises.

Data from the Provincial Treasurer's Office showed that from January to August, P57 million has been collected from hospital fees alone. On top of this is the P96 million from medical, dental and laboratory fees.

Data also showed that from earnings from the hospitals peaked in March and June, respectively, with P22 million from each month.

The second biggest collection is from tax revenue at P121 million with the biggest collections in January with P23 million.

The bus terminal has contributed P46 million with the P6 million generated in March alone.

Emmanuel Guial, head of the provincial treasurer's office, said the province's Internal Revenue Allotment (IRA) this year is P1.6 billion.

Last year, the province also surpassed its P2.8 billion revenue collection. (FREEMAN)