Cebu Capitol to Exceed 2016 Target Income of PHP2.9B

The Cebu Provincial Government may exceed its Php 2.9-billion target income for 2016, an official said.

Cebu Provincial Treasurer Emmanuel Guial said the province has already collected Php 2,585,645,236.73 from January to October this year.

Guial said the 2016 target income of Php 2.9 billion includes the province’s monthly share of Php 210.9 million from the Internal Revenue Allotment (IRA).

With the monthly IRA alone, Guial said the provincial government will be able to exceed its target income in two months, meaning, November and December.

Guial said the province’s share of the IRA had been increasing by 10 percent every year.

The top five contributors to the province’s income are the 12 districts hospitals and four provincial hospitals, with Php 194.8 million; real estate property tax, with Php 59 million; South Bus Terminal, with Php 57 million; property transfer tax, with Php 19.3 million, and rent and utility income within the Capitol compound that reached Php 16.3 million.

Guial said he expects a more efficient tax collection next year with the use of the iTax software.

The computer software will be given to towns for free to be used in the computerization of the Income Revenue Tax System, including tax declarations. (PNA)RMA/LAP/EB/EDS