The Makati City government has reported P14 billion in total revenues for calendar year 2015, which shows a 9% increase over its total earnings in 2014.
“City Treasurer Amalia Santos noted that business tax collection in 2015 increased by 10% compared to 2014, or a total of almost PHP7.3 billion. Real property tax collection amounted to PHP4.824 billion for a 7% increase from the 2014 collections,” reports Anna Liza Vilas-Alavaren in Manila Bulletin.
The report noted: “The other local sources of income of the city include Fees and Charges with PHP630.9 million, and Economic Enterprises with PHP215.6 million.”
The report further explained that “locally-sourced revenue of Makati amounted to PHP12.9 billion in 2015” and the city also “posted PHP128.4 million in interest income.”
While Makati got PHP869.3 million as its share from the national government or its Internal Revenue Allotment (IRA), it’s actually one of the few local government units that are not dependent on the IRA.
