Lapu-Lapu City surpasses tax collection target

Monday, February 6, 2012

THE Lapu-Lapu City Government exceeded its annual business and real property tax targets in 2011, with a total collection of P1 billion, an official announced yesterday.

In an interview with Sun.Star Cebu, Lapu-Lapu City Treasurer Elenita Catagcatag said they were able to surpass their 2011 estimated tax targets of P841 million, with an actual annual collection of about P1,045,546,213.24.

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The increase last year earned them the third spot in the top 3 best performing local government units in the region by the Bureau of Local Government Finance (BLGF), along with Dumaguete City in Negros Oriental and Tagbilaran City in Bohol.

Increase

Last year’s collection is 13 percent higher compared to 2010’s, which amounts to about P916 million.

Business increased taxes and other fees from P230 million in 2010 to P289 million in 2011.

Real property taxes rose from P69 million back in 2010 to P91.5 million in 2011.

Catagcatag said their shares from the Mactan Export Zone rose from P153 million to P160.9 million in 2011.

Other sources

Taxes collected from other income-generating ventures also soared from P32 million back in 2010 to P35 million in 2011.

Catagcatag said the City’s intense tax mapping operations and constant information drive at the barangay level contributed to the increase for 2011.

She said a majority of their top taxpayers in the city are the tourism-related businesses, such as hotels and restaurants and establishments registered under the Philippine Economic Zone Authority (Peza).

Back in 2010, the Lapu-Lapu City Government listed about 7,286 establishments of varying sizes.

Catacutan said the increase in their tax collections and the efficient tax collection schemes that they practiced earned them the honor of being ranked third in top 3 LGUs in Central Visayas.

For this year, the Lapu-Lapu City Government is hoping to collect about P975 billion. Catacutan is optimistic that they can collect more than the target this year.