Makati Still ‘Richest City’

MANILA, Philippines --- Makati City remains the richest local government unit (LGU) in the country after it posted a P9-billion revenue collection from January to September of this year.

During this period, Makati City collected a total of P9.38 billion in revenue, which is 5 percent higher than its collection for the same period in 2011.

"We are proud to note that Makati remains the country's richest local government unit in terms of income from local sources and on a per capita basis. It is also worth noting that our share from the Internal Revenue Allotment or IRA makes up a mere 5 percent of our total collections, down by 17 percent compared to September last year," Makati Mayor Jejomar Erwin S. Binay said.

He noted that the bulk of the collection came from local sources, led by Business Tax that increased by 14 percent to P4.85 billion from P4.25 billion, followed by Real Property Tax with P3.26 billion, or 1 percent lower than P3.30 billion collected as of September 2011.

Binay noted that the latest revenue hike can be partly attributed to the increased transparency and efficiency in the city government's systems and processes achieved through harnessing information technology.

"We are evidently on the right track in this vital area of governance, as Makati recently passed the criteria for Silver Seal of Good Housekeeping by the Department of the Interior and Local Government and won the Gawad Pamana ng Lahi Award at the regional level," Binay said.

The DILG has set stringent requirements for the recognition, including compliance to the Full Disclosure Policy and having no adverse reports from the Commission on Audit, compliance with the Anti-Red Tape Act, a Comprehensive Development Plan, and above-benchmark performance in the Local Governance Performance Management System.

The mayor said while larger cities in Metro Manila enjoy a bigger share of the IRA, Makati has consistently topped their locally-sourced income from business and realty taxes collected.

As of end-2011, Makati had registered a total of 58,920 business enterprises, which are engaged in wholesale/retail, services, real estate, financial services, export/import, and manufacturing.

Makati also boasts of having the highest number of BPO locators in the NCR at 1,159 companies to date, as well as the highest number of PEZA-accredited IT Parks and Buildings, 34.

The city government of Makati has not increased its tax rates since its new Revenue Code took effect in 2006. For 26 years now, the city said it has enjoyed a deficit-free status.

Loading...

Editor’s note:Yahoo Philippines encourages responsible comments that add dimension to the discussion. No bashing or hate speech, please. You can express your opinion without slamming others or making derogatory remarks.

  • Sandigan OKs hospital stay for GMA co-accused
    Sandigan OKs hospital stay for GMA co-accused

    The Sandiganbayan has allowed a government official, accused with plunder along with former President and now Pampanga Rep. Gloria Macapagal-Arroyo to undergo a medical procedure at a hospital tomorrow. The anti-graft court permitted former Philippine Charity Sweepstakes Office (PCSO) board member Benigno Aguas to undergo a cardiopulmonary/endocrine clearance at the St. Luke’s Medical Center in Quezon City. …

  • Appeal for convicted Pinay in Indonesia continues – Palace

    The Aquino government is doing everything possible to save a Filipina facing execution in Indonesia for drug smuggling, a Palace official said yesterday.Deputy presidential spokesperson Abigail Valte said the government was moving within Indonesia’s legal framework to spare Mary Jane Veloso from death.Foreign Affairs Secretary Albert del Rosario continues to exhaust all legal avenues to save Veloso from execution, Valte said.The Indonesian Supreme Court on Wednesday denied the government’s …

  • Sandigan recommends executive clemency for ex-envoy
    Sandigan recommends executive clemency for ex-envoy

    The Sandiganbayan has recommended executive clemency for a former Philippine ambassador to Nigeria who was sentenced to 52 years for malversation of public funds. The Sandiganbayan First Division found Masaranga Umpa guilty of misusing the Assistance-To-Nationals Stand-by Funds totaling $80,478.80 in 2007, but the anti-graft court said the former assemblyman from Lanao del Norte should be pardoned. …

  • Bulacan, Bataan are top Lenten destinations

    MALOLOS, Bulacan – With the expected Holy Week exodus of Catholic devotees to various pilgrimage sites in Bulacan, Bataan and other provinces near Metro Manila, local and provincial officials have coordinated with security and emergency response teams to address the influx of visitors.Among the pilgrimage sites in Bulacan that are often visited by travelers are the Divine Mercy Shrine in the town of Marilao; the procession of saints in Baliwag; the Banal na Bundok with the Stations of the Cross …

  • Stargazing at the mall highlights Earth Hour
    Stargazing at the mall highlights Earth Hour

    It was a night of stargazing in 58 SM Supermalls all over the country last night as these establishments participated in Earth Hour, an annual worldwide movement encouraging communities and establishments to switch off lights for one hour to raise global awareness of overuse of non-renewable resources. The Philippines has been an active participant of Earth Hour since 2008. Last night, in the province of Bulacan, for instance, all parishes, diocesan institutions, schools and household …

  • Payanig privatization hit
    Payanig privatization hit

    BLEMP Commercial of the Philippines, Inc. (BLEMP) denounced the recent announcement of the Presidential Commission on Good Government (PCGG) to privatize the 18.4-hectare “Payanig sa Pasig” property. In a statement sent to The STAR , BLEMP lawyer Dennis Manalo said the PCGG has no right to auction the property because it has no valid title and is not in possession. The PCGG has not paid a single centavo in real property taxes for the property, he said. He narrated that it was in the early …

  • New species of tarantula found
    New species of tarantula found

    Scientists from the Museum of Natural History (MNH) of the University of the Philippines-Los Baños have discovered a new species of cave-dwelling tarantula on an island off the coast of Quezon. The new species of the spider, Phlogiellus kwebaburdeos, was described in the recent issue of the Philippine Journal of Systematic Biology by MNH curators for spiders Aimee Lynn Dupo and Alberto Barrion along with their former student Joseph Rasalan. The tarantula was discovered by Rasalan during …

  • Palm Sunday: Do not add to suffering of others
    Palm Sunday: Do not add to suffering of others

    As Christendom enters Holy Week today, Palm Sunday, an official of the Catholic Bishops’ Conference of the Philippines (CBCP) yesterday called on the faithful not to add to the sufferings of their fellowmen. Jerome Secillano, executive secretary of the CBCP-Episcopal Commission on Public Affairs (ECPA), said that while Palm Sunday is oftentimes remembered as the glorious arrival of Jesus Christ in Jerusalem, it also signals the start of the Holy Week that tells of His suffering, death and …

POLL

Should Aquino be held accountable over the Mamasapano operations?

Loading...
Poll Choice Options