Makati attains 71% of revenue target for 2019
Makati Mayor Abby Binay on Tuesday said the city government collected a total of P12.1 billion in revenue, equivalent to 71 percent of the total revenue target for the entire year, as of May 31.
Binay expressed confidence that the city would again surpass its revenue target for the year as it had in the past three years.
“At the rate we are going, we expect to surpass our full-year revenue target before December. With our stable financial standing, we will be able to implement new initiatives and enhance current programs and services for Makatizens,” Binay said.
Major projects the mayor has vowed to pursue as she starts her second term this July include the upgrading of public school facilities to befit the digital age, continuing modernization of the Ospital ng Makati in Pembo and the completion of the new state-of-the-art hospital in Malugay, and the establishment of a public columbarium offering free cremation and inurnment services to city residents.
In a report to the mayor, City Treasurer Jesusa Cuneta said that as of May 31, 2019, the city collected P12,155,881,631.06, and had attained 66 percent of its target collections from Business Tax and 95 percent of its target for Real Property Tax.
From January to May, collections from Business Tax reached P6.4 billion out of the P9.8-billion target, while Real Property Tax payments generated P4.5 billion of the almost P4.8-billion goal.
According to the Business Permits and Licensing Office, the city has registered 2,477 new businesses as of June 21, with combined capital investment amounting to P23.3 billion. In the same period, a total of 34,542 businesses have renewed their permits, reporting a combined sales of P1.4 trillion.
The city has also derived income from other sources, including Fees and Charges, P531.1 million; Economic Enterprises P76.8 million; Interest Income, P106.5 million; and Internal Revenue Allotment (IRA), P494.1 million.
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