DAVAO CITY – The City Treasurer’s Office (CTO) is targeting over P5.8 billion tax collection efficiency for this year.
“We have already collected P2,623,110,066.97, or a 45 percent efficiency,” said Villa Dureza, CTO local treasury operations officer.
For the same period last year, the CTO collected over P2.3 billion, which includes Internal Revenue Allotment (IRA) and PAGCOR shares.
The Davao Light & Power Co. Inc. was the top tax payer last year with P83.6 billion tax paid, followed by SM Davao Department Store (P16.8B); Coca-Cola FEMSA Philippines, Inc. (P13.1B); Holcim Philippines, Inc. (P12.2B); and NCCC Supermarket (P10.2B).
Dureza said that the influx of business in the city has contributed to the increase of tax collection.“As of last year, a lot of business establishments opened, so there is an increase in the collection of our business taxes,” she said. (Diana C. Tomale/davaotoday.com)
