THE Bureau of Internal Revenue (BIR) RR 16 reported a total tax collection of P2.9 billion in revenues for the first quarter of 2020, a 21 percent increase in collection made in the same period in 2019.
According to National Economic and Development Authority (Neda) Assistant Regional Director Leonila Cajarte, the rise in the revenue of the region was due to the growth of income tax at 29.5 percent which accounts to almost 56 percent of all tax receipts.
All other tax types also posted increases, Cajarte added.
Tax collection in Cagayan de Oro, which accounts for more than half of the total collections in Northern Mindanao, grew by 26 percent to P1.6 billion.
Cajarte said the reduction in the region's revenue due to the impact brought by the coronavirus disease (Covid-19) will be evident in the second quarter of 2020.
Meanwhile, the Department of Labor and Employment (DOLE)-Northern Mindanao reported a total of 45 establishments in the region that have permanently closed as of August 25, affecting a total of 738 workers.
Among the establishments that have permanently closed are in the accommodation (14), which affected 217 workers; wholesale and retail (7), which affected 32 workers; and manufacturing, (6) which affected 235 workers, among others.
