Makati nears P17.84 billion revenue collection target

MANILA, Philippines — The Makati city government is close to reaching its target of collecting P17.84 billion in revenue for the year, according to Mayor Abby Binay.

In a statement yesterday, Binay said the city has collected 72 percent of the revenue target, or P12.93 billion as of end-March.

The first quarter collection was up 18 percent from the same period last year, she said.

The latest revenue collection shows that Makati “is well on its way to full recovery from the pandemic,” Binay said.

Business tax collection in Makati reached P7.07 billion as of end-March or up 33 percent from the same period last year.

Online business tax payments increased to P28.92 million from P6.11 million during the first quarter of 2022. Real property tax also went up six percent to P4.84 billion.

Other local revenue sources are fees and charges (P441.53 million), economic enterprises (P100.15 million), national tax allotment (P417.9 million), share from economic zone (P30.8 million) and interest income (P83.89 million).

“Once again, we are seeing double-digit growth in our total revenue collection as brisk business in the city attracts more new investors while driving current businesses to expand,” Binay said.