Baguio City falls short of tax collection target

BAGUIO CITY: The Baguio City government has fallen short by P104.2 million or 4.556 percent of its projected revenues for this year.

Based on records of the City Treasury Office as of Oct. 31, 2022, total revenues of the city government that came from local and external sources representing the general fund was P2,180,443,904.77 compared to the target revenue collection of P2,284,655,654.00.

City treasury officials, however, said they are confident that the city can hit or even exceed the revenue collection goal by the end of the year.

The city’s revenues come from local and external sources.

Local sources are classified into tax and non-tax revenues.

Tax revenues come from individuals and corporations, property, goods and services, and fines and penalties.

The city’s tax-revenue collection from individuals and corporations was P24,727,358.99; and property, P188,110,934.16.

For goods and services, it was 269,461,913.83 and for fines and penalties, P18,381,308.96.

The city’s overall target for tax revenues was P452,550,000.00, but the collection was P503,582,710.94.

Non-tax revenues are derived from service, business and miscellaneous incomes.

For service income, the collection was P113,378,852.89; business, P236,7-5,456.03; and miscellaneous, P1,657,034.30.

The total target for non-tax revenues was P349,680,0000.00 and the collection was P350,084,308.92.

For the city’s external sources that include national tax allotment, share from the economic zone, share from the Philippine Charity Sweepstakes Office and other shares from the national government, the collection was P1,326,776,884.91.