CDO Revenue District Office As Top Collecting District Posting P2.07B Tax Collections in 2nd Quarter

04 Oct CDO Revenue District Office As Top Collecting District Posting P2.07B Tax Collections in 2nd Quarter

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In a media forum, chief economic development specialist of National Economic and Development Authority (NEDA) in Region 10, Engr. Cecilio Clarete, said that the tax bureau was able to collect P3.43 billion in this year’s second quarter. It is 27 percent higher than the P2.07 billion collections in the same quarter of last year, 2015.

The observed growth, according to Clarete, was broad-based with receipts from the Value Added Tax (VAT) which garnered an average growth rate of 45 percent, and Other Taxes with 52 percent as cited from the Bureau of Internal Revenue (BIR).

This growth indicates that the business community in Northern Mindanao is healthy.

Contributing the largest share in the collections come from the income taxes with P2.14 billion (62%), VAT then follows with P971 million (28%).

When all revenue district offices (RDO) in the region will be compared, Gingoog RDO and Cagayan de Oro RDO gained positive growths of 41 percent and 31 percent individually.

Remaining as the top collecting district is Cagayan de Oro RDO posting P2.07 billion collections or 61 percent of the total receipts, followed by Bukidnon RDO which collected P487 million or 14 percent of the total receipts, Iligan RDO with P460 million or 13 percent of the total receipts, Ozamiz RDO with P262 million or 8 percent of the total receipts, and Gingoog RDO with P142 million or 4% percent of the total receipts.

Source: PIA