Davide promises to raise revenues-A A +A
Monday, April 21, 2014
CEBU Gov. Hilario Davide III vowed to further improve the Provincial Government’s tax collection efficiency and increase its revenues.
Davide said he also hopes to increase the Capitol’s income through economic enterprise, but he pointed out that the focus of the Provincial Government is to provide service and not profit.
The Provincial Government’s earnings increased more than eight percent in the first quarter of this year over the same period in 2013.
The Department of Finance’s Bureau of Local Government and Finance (BLGF) gave an exceptional rating to the Capitol’s fiscal performance and reporting from 2010 to 2012 under the administration of then Gov. Gwendolyn Garcia, Davide’s predecessor.
The BLGF noted the Capitol’s “high regular income level, strong contribution of locally sourced income to total revenues and moderate dependence on the IRA.”
Provincial Treasurer Emmanuel Guial said the Capitol’s first quarter revenues rose to P760.199 million compared to P702.075 million in 2013.
He attributed the increase to improved efficiency in tax collection, updating the schedule of market values (SMV) and higher Internal Revenue Allotment (IRA).
“Naninguha man ta. Sige ta'g meeting sa mga municipal treasurers to be efficient in tax collection in coordination with the assessor’s office (We had several meetings with municipal treasurers and assessors to improve tax collection),” he added.
The Capitol updated the Province’s SMV, which determines the amount of real property tax that landowners pay to the local government, in 2012 and implemented the revised version in 2013.
The move resulted in total real property tax revenues of P42.324 million compared to the previous year’s P34.797 million.
The Capitol’s IRA share from the National Government also increased to P612.039 million this year from P558.142 million.
Guial said the Capitol’s tax collection from delivery trucks and vans also jumped to P2.779 million from P754,000.
Davide said the improved revenues mean more funds for basic services.
Published in the Sun.Star Cebu newspaper on April 22, 2014.