LTO revenue collection for 2024 up by 34 percent
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MANILA, Philippines — The Land Transportation Office (LTO) on Friday said it collected a total of P17.9 billion in revenue in the first five months of 2024.
In a statement, LTO said the total revenue collected so far is 34 percent higher than the P12.8 collected in the same period last year.
According to the LTO, all revenue sources recorded a significant increase, including Motor Vehicle Users Charges which increased by 15.33 percent from P8.6 billion to P9.9 billion; and driver’s license transactions by 10.50 percent from P1.479 billion to P1.634 billion.
Law enforcement activities also resulted in 25.26 percent increase for revenues from Law Enforcement and Traffic Adjudication System and 128 percent increase in other revenue sources.
READ: LTO-NCR revenue reaches P8.1 billion in 2023
Article continues after this advertisement“From our law enforcers on the roads and our personnel on desks of our frontline services up to the regional offices and the Central Office, everyone has contributed a lot in achieving this accomplishment,” said LTO chief Vigor Mendoza II.
He then committed that the LTO will sustain its efforts in achieving its P33 billion revenue collection target in 2024 through vehicle registration and driver’s license application and renewal.
