Makati achieves 98% of Oct 2019 revenue target at P16.8B
MANILA, Philippines — The Makati City government on Friday said it has collected P16.8 billion in revenues in October, representing 98 percent of its target for that month.
Quoting a recent report from the city’s treasurer, Makati Mayor Abby Binay said the bulk of the collection was from business tax.
“Our business sector continues to make the biggest contribution to the city’s coffers, with thousands of new businesses locating here, while tens of thousands more continue to grow their investments with us,” Binay said in a statement.
Binay noted that business tax collection reached P9.354 billion, which was “95 percent of the full-year target of P9.810 billion.”
She also said that the local government likewise gained P757.39 million from fees and charges as well as P139.9 million from economic enterprises.
Interest Income amounting to P202.5 million and Internal Revenue Allotment worth P988.2 million further contributed to Makati City’s revenue collections, according to Binay.
