Makati revenue collection nears P10 billion mark in 5 months

MANILA, Philippines - The Makati City government Thursday reported that the city’s revenue collection in just five months has reached the P10 billion mark.

Outgoing Makati Mayor Romulo “Kid” Peña said transparency and good governance have contributed to the P9.7 million revenue collection in just five months with an increase of seven percent as compared in the same period last year. 

Peña added that the noteworthy bulk of total revenue collection for the first five months of the year came from business tax, amounting to P5.1 billion and real property tax of P2.3 billion.

“Our excellent performance in revenue collection can be directly linked to the improved overall experience of our stakeholders in doing business-related transactions with the city government under Bagong Makati,” Peña said. 

Peña cited the enhanced efficiency in the processing of business permit applications and renewal as a crucial factor in the significant revenue growth achieved by the city so far.

“We are inspired all the more to continue pursuing needed reforms and innovations in the way we serve our partners in the business sector. We sincerely acknowledge their indispensable role in building a sustainable future for the city and its people, and we greatly value their confidence and trust in us,” Peña said. 

Compared to 2015, business tax collected increased by eight percent from January to May this year, while realty tax increased by six percent.

Of the total of P9.750 billion, 393 billion came from the Internal Revenue Allotment (IRA), equivalent to 9 percent.

Aside from business and realty taxes, collection from other local sources included P452.4 million from fees and charges, P82.6 million from economic enterprises and 80.7 million from interest income which posted a significant 77 percent increase as compared last year with only P45.6 million.

Peña added that he would continue to serve the people of Makati, especially those at the grassroots level even on his personal and private capacity. 

“While we are still waiting for the Comelec’s final decision on our election protest and for the start of the manual recount of our votes received during the May 9 elections, let me assure you of the same quality of services my administration, the New Makati, has given you since I assumed as the city’s mayor in July last year,” Peña said.