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City hall registers over 100% hike in business tax collections

CITY hall registered an increase of over 100 percent in its month-long business tax collections in January.

City treasurer Jasmin Maagad said the collections, made from Jan. 1 to Jan. 31, would show an 111.65-percent increase or by some P68.9 million compared to city hall’s collections during the same period in 2018.

The City Information Office quoted Maagad as saying that city hall’s actual collections amounted to some P661.089 million in January alone. Last year, she said, city hall collected some P592.096 million during the same period.

Of the 15,692 business establishments that registered last month, 14,786 renewed their permits and 906 others were new business ventures.

The deadline set for the renewal of business permits ended in Jan. 31.

It was originally set in Jan. 21 but the city council extended it on the endorsement of Mayor Oscar Moreno.

The mayor’s endorsement was based on the resolution of the Local Finance Committee headed by city budget officer Percy Salazar.

The extension of the business permit renewal period was a response to the request of Cagayan de Oro Chamber president Irene Floro and Misamis Oriental Filipino-Chinese Chamber of Commerce and Industry president Simon Ching.

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