CTO hopeful to breach 2013 collection performance-A A +A
Thursday, January 2, 2014
THE City Treasurer's Office (CTO) is optimistic that its collection performance for 2013 reached over a 100 percent, an official said.
"We have estimated that our collection performance efficiency will be around 100 percent to 103 percent for 2013," City Treasurer Rodrigo S. Riola said in a press briefing at NCCC Mall Thursday.
He said they are yet to determine how much revenue was collected for 2013 since they were still collecting the real property taxes on Thursday after the deadline was moved to January 2 from December 31, 2013.
Riola said the final report on the city's collection will be revealed in the second week of January.
"As far as collections are concerned, we saw that collection is doing well. We had no year yet that we did not reach a 100 percent performance in reaching our target," he said.
Riola said the CTO is doing all it can in the collection of taxes since the source of the budget and expenses depend on them.
"If we do not intensify our collections and not reach the target there will be plans or programs that will not be funded or implemented," he said.
Last September 2013, he reported that 85 percent of their target collection of P1,880,023,200 from local taxes have been collected from the period of January to July 2013.
The city also received 59 percent of the P2,626,717,623 Internal Revenue Allotment (IRA) for the same period last year.
"Our total collection from January to July from local sources is at P1,597,042,291 while for the IRA, we have collected a total of P1,553,111,980," he said.
Combined collections of local sources and the IRA brought a total of actual collection of P3,150,154,271.
The biggest chunk of the collection for the local sources came from real property that accounted for P288,230,592.22 and business taxes at P787,966,206.43.
Published in the Sun.Star Davao newspaper on January 03, 2014.