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Wednesday, December 01, 2021

Cebu City falls short of revenue target

TODAY is the last day to renew business permits, apply for new ones and pay business and real property taxes in Cebu City.

The City, though, missed P5-billion target set by Mayor Michael Rama.

City Treasurer Diwa Cuevas, in a text message, said they have so far collected P531.6 million. Of the total amount, P433.5 million came from the payment of real property taxes.

More than P94.6 million was collected from business taxes, fees and other charges, while P3.4 million was collected from the issuance of community tax certificates or cedula.

Asked about this, the mayor, in his regular news conference yesterday, said he just wanted to thanked business establishments and real property owners for settling their obligations.

Expectations

He said he believes the collection will still go up, as he expects many will try to beat today’s deadline.

“There will be a huge deluge of taxpayers, but I cannot blame them (for beating the deadline),” he said.

Rama already instructed employees of the treasurer’s office not to take a noon break.

Asked if he will extend the deadline, he said he will discuss the matter with Cuevas.

Those who fail to pay their taxes after today will have to pay a surcharge and a penalty that will be 25 percent of the tax due and a two-percent interest in the succeeding months.

The mayor had earlier said the City would be active this year in raising funds.

The revenues generated by the treasurer’s office will support the City’s P13.4-billion approved budget.

The amount is more than double compared to last year’s P5.89-billion budget.

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