Capitol collects P1.167B in revenues during Q1

CEBU, Philippines — The Cebu Provincial government collected over P1 billion in revenues for the first quarter of 2018, an all-time high collection compared to the same period in the previous years.

The records of the Provincial Treasurer’s Office show that a total of P1.167 billion was collected from January to March. The amount is P253.6 million higher compared to the P914 million in 2017.

Bulk of the revenues came from the Internal Revenue Allotment (IRA) share of the Capitol, which is P260 million a month or P780, 515, 700 for three months. The Capitol also posted an 82.41 percent increase in its local revenues. It has generated P445.9 million compared to P244.4 million in the same period last year.

The Capitol collected P71.4 million in total tax revenues, which includes amusement tax (P582, 420.02), franchise tax (P13, 276, 076.81), real property tax (P34, 852, 215.84), among others.

For non-tax revenues, it has collected a total of P23 million. These include permit fees (P10million), rentals (P3.9million), and others.

The Cebu South Bus Terminal (CSBT) contributed P15.8 million, the amount is lesser compared to the P16.6 million collected in the same period last year.

Joey Herrera, manager of CSBT, said the slight decrease was due to the non-collection of rent deposits from terminal concessionaires. The 16 provincial and district hospitals have also generated P69.9 million revenues during the first quarter, an increase of 7.05% from last year’s P65.3 million. —/FPL (FREEMAN)