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Tuesday, July 18, 2006
Income tax revenues reach P506M - Neda
Income taxes amounting to P506.402 million comprise the biggest source of revenues in Northern Mindanao during the first quarter this year.
Data gathered by the National Economic and Development Authority (Neda) in the region from the Bureau of Internal Revenue (BIR) Office 16 show that the figure actually represents 66.30 percent of P763.702 million, the total regional revenue collection (TRRC) for the period,” Neda Director Myra Balan-dra said.
This was followed by value-added taxes amounting to P167.838 million or 21.90 percent, percentage taxes of P37.783 million or 4.90 percent.
Other sources, such as penalties, fines and surcharges, total P51.556 million or 6.70 percent and excise taxes reached P0.121 million or 0.20 percent.
Shares
In terms of share in the TRRC, Revenue District 98 of Cagayan de Oro City posted the biggest share of P393.894 million or 51.6 percent, followed by RD 101 of Iligan City with P151.214 million or 19.8 percent, RD 99 of Malaybalay City with P111.331 million or 14.6 percent.
RD 100 of Ozamiz City was next with P66.491 million or 8.7 percent and RD 97 of Gingoog City with P40.770 million or 5.3 percent.
Meanwhile, the government is seeking the support of the business community to discourage the payment of bribes and to expose those public functionaries who demand bribes even as it continues the fight against graft and corruption.
“The strong support of the private sector, particularly the large corporate taxpayers sector, is a major factor in the continuing improvement in the revenue generation effort of the agency,” BIR Commissioner Jose Mario Bunag said. (Trends/Sunnex)
For Bisaya stories from Cebu. Click here. (July 18, 2006 issue)
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