Tax collections in Northern Mindanao up by 27% in 2Q

The intensified tax collection efforts in Northern Mindanao continue to pay off as the region again posted increase in collections during the second quarter of 2016.

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Engr. Cecilio Clarete, chief economic development specialist of National Economic and Development Authority (NEDA) in Region 10, said in a media forum that the tax bureau collected P3.43 billion during the quarter, up by 27 percent from the P2.70 billion collections made in the same quarter in 2015.

 

Citing figures from the Bureau of Internal Revenue (BIR), Clarete said the growth was broad-based with receipts from Value Added Tax (VAT) and Other Taxes posting higher than average growth rates at 45 percent and 52 percent, respectively.

 

Such trend, he said, reflects the good health of the business community in the region.

 

In terms of share, collections from income taxes accounted for the largest share with P2.14 billion or 62 percent followed by VAT with P971 million or 28 percent.

 

All revenue district offices (RDO) in the region also logged positive growths led by Gingoog RDO and Cagayan de Oro RDO with growth rates of 41 percent and 31 percent, respectively.

 

Cagayan de Oro RDO remains the top collecting district which posted P2.07 billion collections or 61 percent of the total receipts while Bukidnon RDO collected P487 million (14%), Iligan RDO with P460 million (13%), Ozamiz RDO with P262 million (8%), and Gingoog RDO with P142 million (4%).

 

Clarete said the positive performance of BIR is attributed to its continuing surveillance on tax compliance of individuals and establishments as well as notification and closure of establishments violating tax laws under the Oplan Kandado drive. (APB/PIA-10)

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