Makati Mayor Abigail Binay on Friday thanked the city’s taxpayers for their strong support of the city government.
Makati collected P16.8 billion in revenues as of the end of November, exceeding the full-year target by eight percent.
“We have already exceeded by eight percent our full-year revenue target last November,” Binay said.
“Our revenues mostly came from business and real property taxes, and we are heartened by the strong support consistently shown by our taxpayers.”
City Treasurer Jesusa Cuneta said the Business Tax remained the top contributor to the city’s coffers with almost P9.1 billion, followed by Real Property Tax with P5.5 billion. The other revenue sources included Fees and Charges with P750.9 million and Economic Enterprises with P246.9 million.
She said the new business registrants reached 4,770 as of the second week of December, and with a combined capital investment of over P30 billion. Business permit renewals reached 33,978 in the same period.
Under the administration of Binay, the city government institutionalized the “Business One-Stop Shop” in line with the Ease of Doing Business and Efficient Service Delivery Act of 2018 or RA 11032.
The ground floor of Makati City Hall Building II has been designated as the single common site to process applications, payments and to issue approved licenses, clearances, and permits.
Makati is developing its enhanced business Permit and Licensing system, or e-BPLS, a computerized system that will provide easy access to business permits through different platforms.
Under Binay, Makati earned its first-ever “unqualified opinion,”the highest audit rating given by the Commission on Audit based on its assessment of Makati’s 2017 financial statements.
For the first time in 12 years, the city posted a two-digit increase (12 percent) in revenue collections in 2017.
Recently, Makati unseated Quezon City as the richest local government unit, posting total assets of P196.5 billion and becoming the first LGU to breach the P100-billion mark.