Larena town operates on P26.5M budget
by Rizalie A Calibo and CA Quilicot
Larena, Siquijor (27 April) -- The local government of Larena operates on a P26.5 M budget for this year, says a report of Municipal Budget officer Clifford A. Quilicot.
This is contained in Appropriation Ordinance No. 56-A enacted and approved on December 13, 2006 by the local council during its Special Session.
Based on records, the local unit has generated an income from local sources of P4,984,350, Internal Revenue Allotment of P19,145,252 and beginning balance of P2,400,000.
Out of the IRA share, P4,939,780.50, is appropriated for the Statutory Obligations, P19,905,231 for the General Fund and P1,683,070 for the Operation of the Economic Enterprise.
The local unit is adapting some measures to improve its tax collection efficiency for increased revenue generation, he reported.
Meanwhile, the government's efforts to collect billions in unpaid taxes is gaining ground with the discovery of business establishments with fraudulent tax records. The BIR revealed that based on verification of winners in the Premyo sa Resibo promo, half of the 140,000 business establishments who submitted official receipts as entries had no record of income tax payments.
The Premyo sa Resibo promo had generated 7.8 M texted receipts as entries in the raffle promo launched in June last year. The promo helped identify non-compliant taxpayers and those issuing fake receipts.
BIR Commissioner Jose Mario Bunag has given peremptory orders to all revenue regions and regional district offices to conduct checks on establishments found issuing fake receipts and not paying correct taxes.
Finance Secretary Margarito Teves said the government will continue to push revenue-enhancement measures in Congress, alongside the rationalization of fiscal incentives and the proposed simplified net income tax plan. (LGU Larena/PIA) [top]