By JAN ARCILLA
August 25, 2019
MAKATI City hit 83 percent of its full-year revenue target of P17.1 billion in July, with total collections reaching P14.2 billion, Mayor Mar-Len Abigail “Abby” Binay said.
Binay said the city government collected P7.839 billion from business tax and P4.843 billion from realty tax.
“Business tax remains to be our biggest sharer of revenues, and I am glad that our efforts to make it easier and more convenient to do business in the city have translated to sustained revenue growth,” she said.
Other sources of revenue were fees and charges with P628 million, economic enterprises with P96 million, interest income with 143 million, and Internal Revenue
Allotment with almost P700 million.
The city is expected to collect P34 billion from 3,466 new business registrants and
P1.4 trillion from 34,755 renewed business permits.
The city’s total assets to date is about P230 billion.
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