Oro’s tax revenues up by P412-M in Q1-A A +A
Friday, June 13, 2014
THE increase in Cagayan de Oro City’s tax revenues from January to March 2014 is due to the proper collection of taxes from the business sector, said City Treasurer Glenn Bañez on Wednesday.
“It was really the right way of collecting taxes that paved way to the great figures we have today. The sharp or dramatic increase is due to the right gross sales and the strict rules on the requirements that the businessmen have to follow,” Bañez said.
The City Treasurer’s Office (CTO) statistics shows that there is P412 million total revenues for this year’s first quarter, around 3 percent increase compared to last year’s P297 million.
During the visit of the United States Aid for International Development (USAID) Bureau for Asia acting assistant administrator Denise Rollins last June 6, 2014, Bañez announced that there are 16, 659 business permit applications that came in from January to March.
He added in a separate interview with Sun.Star Cagayan de Oro that the strict rules implemented in their office and the proper coordination among employees and the ‘appealing’ lounge are some of the factors that drew more taxpayers to pay their business taxes.
“Because they saw that we have a proper coordination here such as refurbishing the area where they could sit and feel like they are in bank, there is an aircon for them to feel comfortable and there is a television that will tell the numbers queued unlike before that they have to stand in long lines under the sun,” he said.
For his part, Oro Chamber of Commerce and Industry (Oro Chamber) president Efren Uy agreed that there is already a ‘fast track’ system inside the CTO.
“When businessmen would like to renew business permits, it will only take up to less than two hours. Previously, for renewal, there must be 10 signatories. Now, they only have three, which makes everything less time-consuming,” Uy said.
He said that requirements now are stricter but they are hassle-free.
Bañez added that with the improvement of manner of collecting taxes from taxpayers, it really is helpful to welcome more investors in the future.
“Cagayan de Oro is called as the trade capital in Misamis Oriental because we get favorable feedback from our taxpayers. We always bear in mind that they are the city’s main client because they help run everything in the city. From schools to pavement of roads, they help build all of those through the taxes they pay,” he furthered.
Published in the Sun.Star Cagayan de Oro newspaper on June 13, 2014.