THE Davao City Treasurer’s Office (CTO) reported a significant increase in collections from January to October 2024 compared to the same period in 2023.
As of October, the CTO collected ₱11,878,152,512.24, surpassing the ₱11,364,394,539.22 collected during the same period last year. This marks a 4.52 percent increase.
“With a 2024 target of ₱12,731,143,382, the city has already achieved 93.30 percent of its goal as of October,” said CTO officer-in-charge, Atty. Lawrence Bantiding. He noted that this represents a 4.52 percent increase in collections compared to the same period last year, with the majority of revenues coming from business taxes and real property taxes.
In October 2023, the CTO collected ₱2,587,456,337.94 in business taxes and ₱918,280,039.58 in real property taxes. This year, business tax collections rose by 5.85 percent, while real property tax collections increased by 2.17 percent.
Bantiding attributed the rise to the city's recovery from the pandemic, reflected in higher gross sales and revenues reported by local businesses.
“In 2020, the city achieved 100.29 percent of its collection despite the pandemic," he said. By 2023, the CTO exceeded its target by 108.31 percent, nearing the pre-pandemic accomplishment of 108.58 percent in 2019.
The CTO is preparing for the January 2025 Business Permit One-Stop Shop (BPOSS). Processing locations will be established across various districts to streamline business permit applications.
Bantiding also reminded taxpayers of the Online Business Permit Application and Online Payment System, which has been available since the pandemic for those who prefer online transactions. DEF
