BACOLOD City business tax collection is up by P109.987 million, said Acting Mayor Greg Gasataya.
As of January 23, 2016, the city collected P246.572 million in business taxes covering 2015, compared to the P136.584 million of 2014.
The real property tax collection is also up: 420.718 million for 2015, from P401.481 million in 2014, or a difference of P19.236 million.
Gasataya said he is grateful for the positive turnout of the city’s tax collection despite nullification of City Ordinance 08-14-700, which attempted to update the schedule of fair market value and real property taxes of the city.
“I thank the business and real property owners for their trust and confidence as shown in their gesture of paying their obligations to the city government,” he said.
Gasataya added that this will be a big help to the projected 2016 annual budget of the city amounting to P1.8 billion.
Maria Rhodora Gascon, Financial Analyst IV and Special Investigator III of the Bureau of Local Government Finance (BLGF) in Western Visayas, said the City could not defy the order of the Department of Justice declaring the ordinance null and void, which was why no new rates were imposed.
She said that without a valid ordinance, the new rates could not be effected.
The BLGF team are in Bacolod to conduct a compliance review in the City’s treasury and assessment offices.