THE Cebu Provincial Government’s revenues from January to October this year increased 61.80 percent from the same period last year, an official said Friday, Nov. 16.
Provincial Treasurer Roy Salubre said the Capitol was able to collect P1.04 billion from January to October this year.
In the same period last year, Capitol collected only P644 million.
Salubre attributed the increase in the Province’s revenues to various factors including the sale of the Cebu International Convention Center (CICC) to the Mandaue City Government earlier this year.
The Province sold the CICC for P300 million. The sale helped boost the Province’s revenue, particularly in the sale of province-owned assets.
Salubre told reporters that in terms of tax revenues, the Province was able to surpass its P147 million target for this year after collecting P162 million.
Tax revenues include collections from amusement, franchise, professional, property transfer and real property taxes, among others.
Last year, the Capitol only collected P157 million from taxes.
Non-tax revenues such as from regulatory, permit, registration, affiliation, clearance and certification, and inspection fees rose only slightly this year.
The Province collected only P217 million in non-tax revenues, an increase of over one percent compared to last year’s collection of P215 million.
Salubre also noted a 37 percent increase in revenues from provincial and district hospitals with P342 million collected this year.
Over the same period last year, the Province collected only P248 million from provincial and district hospitals.
But Salubre noted a decrease in revenue collections from some of the Province’s income-generating bodies such as the Cebu South Bus Terminal (CSBT).
From January to October this year, the Province collected only P53.7 million from the CSBT, a 5.69 percent decrease from P56.9 million in the same period last year. JKV