Friday August 17, 2018

MisOr tops 2017 tax collection efficiency in NorMin

THE provincial government of Misamis Oriental has been cited as the top province in Northern Mindanao in terms of efficiency in tax collection for the year 2017.

Provincial Treasurer Ronald Jame Violon said the province was recognized by the Bureau of Local Government Finance (BLGF) during its 1st Quarter 2018 Regional Conference as the province with the biggest collection from local sources.

Total revenue collections reached P550.5 million in 2017, exceeding the annual target of P457 million.

Violon said collection efficiency has greatly improved to 120 percent.

The treasurer's office reported that the province surpassed the P330.68-million target for the real property tax collection as it collected a total of P404.61 million for 2017.

Business tax collection, on the other hand, did not meet the P19-million target as collections reached only P17.6 million.

Fees and charges amounted to P15.9 million, exceeding its target of P12.9 million.

Economic enterprises contributed the biggest share, collections reached P112.3 million for 2017 compared to its P94.2-million target.

Violon attributed the increase in tax collections to big companies such as Phividec, Globe, and Smart.

The treasury office is also using a new tool for collection called LGU (Local Government Unit) Integrated Financial Tools (LIFT) for a convenient way to collect taxes in Misamis Oriental.