INTERNAL revenue collections in Northern Mindanao for the second quarter of 2010 posted 17 percent increase compared with the same period last year.
Data from the National Economic Development Authority (Neda) showed that during the second quarter of this year, tax collections reached P1.426 billion compared with last year’s P1.218 billion.
The biggest increase was posted by Revenue District (RD) 100 Ozamiz with 35 percent or P143.273 million this year compared with last year’s P106.381 million followed by RD 99 Bukidnon with 28 percent or P191.657 million as against last year’s figure of only P149.638 million.
The data also showed that RD 98 Cagayan de Oro posted an increase of 24 percent or P847.697 million collection this year compared with last year’s P682.030 million while RD 97 Gingoog has 21 percent increase or had a collection of P58.212 million this year compared with the 2009 figure of P47.838 million.
Among all the RDs in the region, only RD 101 Iligan had a negative collection of 20 percent as this year’s revenue only reached P185.049 million compared with last year’s P231.673 million.
By type of tax collections, other taxes registered the biggest increase with 29 percent from last year’s P62.483 million to P80.779 million in the second quarter of 2010 followed by income tax with 21 percent increase, from P761.969 million last year to P925.343 million in 2010. Value added tax registered 7.54 percent increase with P357.445 million this year compared with last year’s P332.397 million while percentage tax had 3.11 percent increase with P61.937 million in 2010 from last year’s 60.066 million.
Among all the types of taxes, only excise tax suffered negative 40.60 percent as this year’s collection reached only P382,519 compared with last year’s P643,978.
article by Terry D.C. Betonio of SSC