Articles worth reading

Makati News

Makati collects P18.1 billion in November 

account_balanceMakati chat_bubble_outline0 Comments

Makati Mayor Abby Binay said the city surpassed its 2020 revenue target as total revenue collections reached P18,150,510,850.72 in November, ahead of its target of almost P17.8 billion.

The mayor said she was heartened to learn that the city has managed to hit its revenue target for the year in spite of the pandemic.

“It is such a relief to know that even with the restrictions imposed on businesses to curb the pandemic, our city has been able to achieve its overall revenue goal for 2020 before yearend. This encouraging development gives us good reason to be optimistic about brighter prospects for business and the local economy in 2021,” Mayor Abby said.

Based on the report from City Treasurer Jesusa Cuneta, Makati City has achieved 102 percent of its full-year revenue target, and exceeded by three percent its actual collections during the same period last year.

The bulk of collections came from business taxes amounting to P9.5 billion, and real property taxes worth almost P6 billion.

The city also derived income from local revenue sources and other sources, including fees & charges (P609.2 million), and economic enterprises (P135.1 million). Other sources of revenue included interest income (P233.4 million), internal revenue allotment (P1.2 billion), share from PEZA (P314.6 million), share from PAGCOR/PCSO (P4.1 million), and grants & donations (P110.8 million).

Records of the Business Permit and Licensing Office (BPLO) show that as of December 23, there have been 2,789 new business registrants and 35,836 permit renewals. The new enterprises chalked up a total of P29.8 billion in capital investments, while total gross sales of businesses that renewed their permits reached nearly P1.6 trillion.

This year, the city launched technology-enabled programs that have benefited Makati residents and taxpayers since the crisis started.

Last June, the city established the Makatizen Online Assessment and Payment Portal through which residents and business owners can pay their real property and business taxes, using their smartphones or laptops. Thus, they no longer need to line up and observe physical distancing at City Hall.

Last September, Mayor Abby announced the launch of the P2.5-billion Makati Assistance and Support for Businesses (MASB) Program. It aims to pump-prime the local economy and support local merchants, thus helping sustain and create jobs for residents.

Through an online portal, Makati-registered businesses can apply for grants ranging from P10,000 up to P100,000, depending on the type of business and number of employees who are Makati residents. The cash grant will be released directly to the employees and suppliers, as payment for their salaries and goods, respectively.

The city has also put up an online accreditation system for Makati-based suppliers of goods and services so they can qualify as beneficiaries of the grant through their business clients.

Through its PPP-led digital initiatives, Makatizen Card and Makatizen App, the city government was able to implement the P2.7-billion Makatulong P5K for 500K Makatizens. The program has afforded over 400,000 residents with safe and convenient access to P5,000-financial aid via GCash to date.

date_rangeDate Published
2 weeks ago
shareShare article
folder_openArticle tags
content_copyCategorized under

Share your thoughts with us

Related Articles

Black Nazarene / MPIO

San Juan residents asked to get permit for Black Nazarene activities 

account_balanceSan Juan chrome_reader_mode1 week ago

San Juan City government advised residents to seek permission from the mayor's office before they can hold gatherings or activities for the feast of the Black Nazarene, according to a report by Philippine News Agency. In an advisory, Mayor Franc...

Over 20,000 Muntinlupa students get tablets 

account_balanceMuntinlupa chrome_reader_mode1 week ago

In a bid to help local learners in the ongoing distance learning amid the COVID-19 pandemic, the local government of Muntinlupa has provided 20,000 tablets for local public school students, according to a report by Philippine News Agency. Mayor Jaim...

3,000 Navotas students receive phones

account_balanceNavotas chrome_reader_mode1 week ago

The City Government of Navotas distributed smart phones for the use of 3,057 public elementary and high school students for school year 2020-2021. The beneficiaries were recommended by Department of Education-Navotas, following their declaration dur...

Photo courtesy of: Vico Sotto

Pasig penalizes 7 homeowners over firecracker use 

account_balancePasig chrome_reader_mode1 week ago

Seven households inside an exclusive subdivision in Pasig City were slapped with P5,000 fine and a violation ticket for using firecrackers during the New Year revelry, Mayor Vico Sotto said Saturday, according to a report by Manila Bulletin. &l...

Makati City Mayor Abby Binay

Makati to buy 1 million doses of AstraZeneca vaccine 

account_balanceMakati chrome_reader_mode5 days ago

Makati Mayor Abby Binay announced that the city government purchased one million doses of AstraZeneca COVID-19 vaccine.  The mayor signed a tripartite agreement yesterday with the British-Swedish biopharmaceutical company and the national gover...

Let's Stay Connected Like us on our Facebook page.
Click on the article to continue reading
Manila prohibits street parties during Sto. Nino fiesta Red Cross tries saliva Covid-19 tests Traslacion likely to swell Covid-19 cases in 3 weeks Skyway 3 opening rites set Jan. 14 MRT-3 to soft launch contact tracing app PH includes China, 4 other countries in travel ban Send Press Release MNC Facebook Page MNC Twitter Page MNC Instagram Page LGU Spotlight Barangay Front Business Sports Entertainment Metro Gen Metro Feature