THE Capitol may exceed its P2.9-billion target income for 2016, said Provincial Treasurer Emmanuel Guial.
According to the data provided by the Provincial Treasurer’s Office, the Province has collected P2,585,645,236.73.
The top five contributors to the Province’s income are the 12 districts hospitals and four provincial hospitals, with P194.8 million; real estate property tax, with P59 million; South Bus Terminal, with P57 million; property transfer tax, with P19.3 million, and rent and utility income within the Capitol compound that reached P16.3 million.
The report covered January to October 2016.
The expected target for 2016 is P2.9 billion, including the monthly P210.9 million from the Internal Revenue Allotment.
Considering the monthly IRA alone, Guial said that by 2017, the Provincial Government will be able to exceed its target income.
“In two months, we will surpass our target with IRA,” said Guial, adding that the IRA has been increasing by 10 percent every year.
Guial, however, said that they cannot fully determine the delinquencies, especially on real properties because they are still operating manually.
However, they are expecting the iTax software to be ready by next year.
The computer software will be given to towns for free to be used in the computerization of the Income Revenue Tax System, including tax declarations.
“With that, we will be able to determine the exact total collectibles as well as tax delinquencies,” said Guial. Dwight Devora, USJ-R Intern