The city government of Makati reported collecting P16 billion in revenue by the end of June, achieving 87 percent of its P18.42 billion annual target and 94 percent of its local revenue goal.
Mayor Abby Binay expressed confidence that the city would exceed its revenue target despite a 40-percent decrease in the National Tax Allotment (NTA) due to changes in local barangays.
Business taxes contributed P8.6 billion, while real property taxes added P5.5 billion, with both categories surpassing their targets.
The city also earned P648.8 million from fees and charges and P232.2 million from economic enterprises.
Binay highlighted the growth in local businesses, with over 4,000 new establishments and 35,000 permit renewals, supporting ongoing social and infrastructure projects.
Source : PhilNews24 | August 29, 2024
