MAKATI CITY on Wednesday reported it has collected P16 billion in revenue as of end-June, hitting 87% of its P18.42-billion full-year target.
This is also equivalent to 94% of its target revenue from local sources, Makati Mayor Marlen Abigail “Abby” Binay-Campos said in a statement. The bulk came from Business Tax amounting to P8.6 billion, followed by Real Property Tax worth P5.5 billion.
“The reduced share of Makati had minimal impact on our financial stability, and we are optimistic that we will again exceed this year’s revenue target,” Ms. Binay-Campos said.
“This means that we will be able to stay on track with the implementation of better programs and projects planned for the year until next year.”
Makati saw a 40-percent decrease in shares in the National Tax Allotment due to the transfer of 10 enlisted men’s barrios and barangays. — Chloe Mari A. Hufana
