CTO posts increased biz tax collection PDF Print E-mail
Friday, 04 July 2014 11:54

Despite the ill effects of last year’s siege on the city’s economic activities, the City Treasurer’s Office (CTO) remains steadfast in the discharge of its functions as repository and guardian of public funds as well as adviser for sound fiscal or fund management.

From July 1, 2013 to June 13, 2014, the office posted a collection of P2.1B in revenues. Of the total amount, P949M were collected in the second half of 2013.

The city’s revenue-generation program was sternly affected by the three-week standoff between government forces and elements of the Moro National Liberation Front loyal to Nur Misuari. While the skirmishes were contained in a few barangays, economic activity in the city’s commercial district was paralyzed and businesses slowed down and fared poorly.

In empathy with the difficulty faced by the affected business entities, the city government opted to suspend the collection of rent charges on city-owned facilities for several months and extend the deadline for the payment of business taxes. This consequently affected CTO’s collection.

Still, the collection of business taxes at the end of 2013 continued its increasing trend and, for the first time in years, exceeded the office’s target by P14M. This milestone is attributed to the department’s adoption of new and non-traditional collection strategies.

CTO also facilitated the disbursement of a total of P983M to various suppliers and contractors for expenditures incurred by the city government from July 2013 to April 2014. — Claudine Uniana