Capitol hits 65% of collection target this year

CEBU, Philippines —  The Cebu Provincial Government has so far collected P4.8 billion in revenue for the past eight months this year.

Data from the Office of the Provincial Treasurer showed that from January to the end of August, the Capitol has collected P4,851,013,223.79 in revenues.

This constitutes 65.53% of the P7.4 billion target collection for 2022.

 "Apas na, kaya na. Pareha last year, lapas ta gamay,” provincial treasurer Roy Salubre said.

Capitol's revenue comes from different local sources like the tax revenues and non-tax receipts, as well as from the Internal Revenue Allotment (IRA).

From the tax revenues, the Capitol has collected P259 million for eight months. This is from the amusement tax, franchise tax, professional tax, property transfer tax, real property tax, fines and penalties - RPT, tax on delivery trucks and vans, tax on SAG (sand and gravel) and other quarry products,  fines and penalties - business tax and other local taxes.

For the non-tax revenue like the  regulatory fees, business and service income among others, the collection has reached P112 million.

It is 130.01% of the P86.2 million target.

As for its IRA, the Capitol has gained P3.8 billion or 66.67% of its P5.8 billion target this year.  — JMD (FREEMAN)