Despite stricter movement restrictions in 2021 when the coronavirus disease hit worldwide, the Davao City government still surpassed its tax collection target by 5.70 percent.
Based on the data from the City Treasurer’s Office (CTO), the city collected Php 10,434,193,222.19 in 2021, exceeding the target of Php 9,871,199,436.00 by Php 562,993,786.19.
The total collection came from Local Taxes, Service Income, Business Income, Economic Enterprises, Other income, and share of Internal Revenue Allotment.
The share from Internal Revenue Allotment is highest at Php5,942,492,436.00.
This is followed by Local taxes at Php3,434,827,366.83 which exceeded by 32.76 percent the target collection for 2021. Of the local taxes total collection in 2021, business taxes contributed the highest with a total collection of Php1,983,359,987.43, followed by real property tax (basic) at Php782,983,058.99, and the real property transfer tax with a total collection of Php224,129,588.88
The third highest is the Service Income collection at 650,835,568.82.
The 2021 tax collection remains high despite the closures of some business establishments at the onset of the Covid-19 pandemic.
This year, the Business Bureau remains bullish based on the high number of business renewal applicants on the first week of One-Stop-Shop Business Renewal compared with the same period last year. CIO