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Cebu News

Capitol surpasses its P5 billion target revenue in 2021

Le Phyllis F. Antojado - The Freeman

CEBU, Philippines — The Cebu provincial government has collected over P5 billion in revenues for the whole year of 2021.

The comparative analysis report of the revenue released by the Office of the Treasurer shows that Cebu Province has total General Fund and Special Education Fund (SEF) collection of P5,092,077, 063.68.

This is P328 million or 6.89 percent higher from the P4.7 billion revenue collection for the year 2020.

General Fund of the province amounts to P4.8 billion for the whole year of 2021 of which P4 billion is the Internal Revenue Allotment (IRA).

For the total tax revenue, which includes the real property tax, tax on delivery trucks and vans, tax on sand and gravel (SAG) and other quarry products, amusement tax, franchise tax among others, the overall collection reached to P360 million from January to December 2021, an increase of 82.51 percent from the P197.7  million for the same period in 2020.

As to the non-tax receipts, the collection of Cebu Province last year amounted to P136 million, an increase of 77.19 percent or P59 million from the P77 million in 2020.

For the income generating property of Cebu Province like the Cebu South Bus Terminal, the collection from the said facility was P64.3 million with an increase of 116.72 percent from 2020.

While the provincial and district hospitals, the revenue collection reached to P132 million, a decrease of 55.17 percent from the P294.9 million collection in 2020.

For this year, the Capitol is targeting P6.9 billon revenue of its general fund.  — GMR (FREEMAN)

REVENUE

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