QC posts P12B in gross revenue

MANILA, Philippines–The Quezon City government has so far collected P12 billion in gross revenue for the year, close to its 2014 target.

In a statement, the city government said that it had collected the amount as of Sept. 5, just 23.4 percent short of its target of P13.5 billion for the year. The announcement was based on the latest collection report submitted by the city treasurer’s office to Mayor Herbert Bautista.

The report likewise showed that the city’s main income source was business taxes, which accounted for P5.4 billion, or nearly half of the city’s gross revenues so far.

Business tax collection went up by P626.2 million, or 13.2 percent, compared to the same period last year, the city government said. The city now needs to collect just P1.3 billion more to meet its business tax collection target of P6.7 billion for 2014.

Aside from business taxes, the city also managed to post significant increases in other regulatory and miscellaneous fees. But real estate taxes for the first nine months of the year amounted to only P1.3 billion, down P103.2 million compared to its collection during the same period in 2013.–Jaymee T. Gamil