Business and Economy
Business tax major contributor to Makati’s revenues
The city’s capital investments from new businesses reached PHP29.2 billion while registered businesses reported a total sales of PHP1.42 trillion in 2022. (File Photo: Sean Yoro/Unsplash)
MANILA – The Makati City government attributed the 6-percent increase in its revenue collection target last year to business taxes.
Of the total PHP20.9 billion collection in 2022, business taxes reached PHP9.1 billion or 10 percent bigger than the 2021 amount, according to a report released by Makati City Treasurer Jesusa Cuneta on Monday.
The report cited Real Property Tax as the second highest revenue collected at PHP8.1 billion, or 7 percent up from 2021.
Mayor Abby Binay said the increased collections proved residents and the business community trust the city government.
She commended the Office of the City Treasurer for its collection efforts and intensive information drive to remind taxpayers of their obligations.
“Dahil sa kooperasyon at pakikipagtulungan ng barangay (village) leaders, maayos na na-iparating sa kinauukulan ang notices. Kaya naman naging mabilis at maaga rin ang pagbabayad at koleksyon ng mga dues (Because of the cooperation of barangay leaders, notices were properly sent to the concerned. That is why payments and collection of dues were swift and early),” Binay said in her newspaper column on Monday.
As of Dec. 31, 2022, Makati’s Business Permit and Licensing Office recorded 4,439 new business registrants and 34,590 business permit renewals.
The city’s capital investments from new businesses reached PHP29.2 billion while registered businesses reported a total sales of PHP1.42 trillion in 2022.
“Ang patuloy na financial stability ng lungsod ay nagbibigay ng katiyakang maipagpapatuloy natin ang paghahatid ng dekalidad na serbisyo (The continued financial stability of the city will give the assurance that we can continue bringing quality service),” Binay said.
Wilnard Bacelonia
