Monday, June 21, 2021

Iloilo Province is most efficient in Western Visayas in economic enterprise, tax collection

ILOILO Province ranked first among provinces in Western Visayas in terms of collection efficiency in economic enterprise, business tax and other taxes for Fiscal Year (FY) 2020, as awarded by the Bureau of Local Government Finance (BLGF) Western Visayas.

The Provincial Treasurer’s Office (PTO) collected a total of P700,260,419.03 in economic enterprise or a collection efficiency of 248 percent, exceeding BLGF’s annual target of P282,435,294 for FY 2020.

For business and other taxes, PTO collected P79,514,328.54 or 169-percent higher than BLGF’s target of P47,007,574.

Iloilo Province also recorded the highest real property tax (RTP) collection in the amount of P798,582,278.68. This is 201-percent higher than the target of BLGF, which is P396,809,997.

Moreover, Iloilo Province also placed second in local revenue sources collection, having collected P1,594,797,884.28 or a 216-percent collection efficiency.

The awards were given during the CY 2021 Second (2nd) Quarter Regional Conference with the Provincial/City Treasurer and Assessors in Western Visayas via Zoom on June 8, 2021.

PTO chief Jean Maire Umadhay said the achievement “is a manifestation of the hard work and dedication of the provincial and municipal treasury personnel despite the challenges brought by the Covid-19 pandemic.”

“We also take this opportunity to extend our utmost gratitude to our stakeholders, especially our dear tax payers for being our consistent partners in the economic growth of the province of Iloilo,” Umadhay said. (PR)


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