THE Davao City Treasurer’s Office (CTO) reported revenues of P4.8 billion in the second quarter of 2018, or 62 percent of their P7.8-billion annual target.
Based on their summary collection, from January to June, they have already collected P4,868,511,586.78 in taxes, penalties and payables in different offices.
The biggest collection this year was in January with P1.7 billion while the lowest was in June with P427 million.
CTO head Bella Linda Tanjili on Thursday, June 28, said they only need to collect at least 38 percent of their annual target for the rest of they year.
The biggest contributors were real property taxes and business taxes. Tanjili said these indicate the massive business development in the city.
She also said their business tax collection has already reached P1.3 billion, or 87 percent of their P1.5-billion annual target.
CTO collected P6.2 billion in 2016 and P7.1 billion in 2017.
The city’s revenues will finance the infrastructure projects and programs of the city.