The Pinoy Business Chronicle

Business news and analysis. Covering financial news, economic issues, stock market data, local business, business policy and more.

National Business News

Regional Updates (07/21/20)

regional updates 07 21 20 - Regional Updates (07/21/20)

covid19 072120 - Regional Updates (07/21/20)

Davao City records 10.7% hike in H1 revenue due to business permit renewals in January

DAVAO City recorded a P6.12-billion revenue collection in the first half of 2020, up 10.7% from P5.53 billion in the same period last year, due mainly to business permit renewals which were collected in January. “The increase in the collection is attributed to our stable tax collection. Aside from that, the bulk of collection that we collected were from the Business Permit renewal last January,” City Treasurer’s Office head Lawrence D. Bantiding said in a statement on Tuesday. Income from other taxes and the local government’s economic enterprises such as markets and the transport terminal, however, dropped as the city went on strict lockdown from mid-March to June to mitigate a coronavirus outbreak. Mr. Bantiding said they are optimistic of hitting the P10.3-billion revenue target for the year through stricter permit inspections for the remainder of the year. “For example, the Business Bureau, they must ensure that those who are conducting business must have a permit. For the Office of the City Building Official, they must ensure that all constructions have secured a building permit. All revenue generating offices should intensify their inspection to ensure that all those who need permits from the city should have gotten one and that should translate an additional income for the city,” he said. The city council has passed several ordinances providing relief to businesses and other taxpayers, such as an extension on the 3rd quarter deadline for real estate tax payments, amnesty to delinquent tax payers, and reduction in rental fees for government-run stalls.

Leave a Reply

Theme by Anders Norén