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PIA Press Release

BIR-16 collects Php1.134 billion in taxes in 2Q

by Rutchie Cabahug-Aguhob

Cagayan de Oro City (14 November) -- The Department of Finance (DOF) will continue to lay down their fiscal plan through the year 2007 and beyond to boost confidence in the country's permanent economic stability.

This is stressed by Finance Secretary Margarito Teves who said the Bureau of Internal Revenue (BIR) has exerted efforts to improve the tax collection in the first few months of the year.

He said a total revenue collection of Php1.143B have been posted by BIR-16, in Northern Mindanao, during the second quarter, this year, noting an increase of 11.54% over the Php965.431M posted in the same period of 2005.

This data, however, reflects only the collection within Northern Mindanao's coverage which includes the five (5) provinces and the eight (8) cities therein, but excludes those of Lanao del Sur and Marawi City in the Autonomous Region of Muslim Mindanao (ARMM) which are also under BIR Region 16.

There are five (5) revenue districts (RD) in region 10: RD 97 stationed in Gingoog City, RD 98, Cagayan de Oro City, RD 99, Malaybalay City, RD 100, Ozamiz City, RD 101, Iligan City, RD 102.

Meanwhile, the comparative 2005-2006 data gathered by the National Economic and Development Authority (NEDA) , region 10, show that taxes derived from the implementation of the Value Added Tax (VAT), during the period, posted the highest increase, from Php138.613M to Php242.591M or 75.01%.

Taxes from "Other Sources," came next with 51.76%, from Php36.083M to Php54.79M. "By other sources, we mean penalties, fines and surcharges , real estate, capital gains and transfer taxes as well as sale of documentary stamps, " he said.

On the other hand, Percentage Taxes posted an increase of 3.82%, from Php42.734M to Php44.367M. "This is mainly due to the shift from the 10% Value Added Tax payments of banks and other financial institutions to the 5% gross receipts taxes," he also said.

In terms of amount, however, the highest collection was on Income Taxes and Profit, the biggest source of revenue, which posted an increase of 5.91%, from Php748.001M to Php792.245M.

On a per RD performance, Ozamiz City posted the highest revenue collection of Php90.173M which is 30% higher over its collection of Php67.797M in the same period, last year.

This was followed by Malaybalay City whose collection increased from Php109.681M to Php131.401M or 19.80%, Iligan City from Php142.342M to Php159.688M or 12.19%, and Gingoog City, from Php36.178M to 37.941M or 4.87%.

Cagayan de Oro which has the largest collection posted a 17.30% increase in collection, from Php609.433M. to Php714.862M. (PIA 10) [top]

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