ITOGON, Benguet – The municipality of Itogon accounted for a total of P46.5M in tax revenue collection from new applications and renewal of business permits for 2023, a report from the municipal treasury office stated.
The actual receipt of P46.5M exceeded the P32.7M target on business tax by 42 percent that will definitely contribute in the efforts of the local government to enhance the generation of internally generated resources.
In the same report, tax collection on business totaled 28M from January to March 2023 – covering 66 percent of the P42.4M target for 2023.
Mayor Bernard S. Waclin expressed his gratitude to the municipality’s taxpayers and business owners for religiously paying their taxes to the municipal government that would be plowed back to the people in terms of the implementation of priority development projects and enhanced delivery of basic services.
The mayor further acknowledged the Business Permit and Licensing Office and the Treasury Office for their tax collection efforts that resulted in such accomplishment and rallied these offices to sustain such gains to improve the income derived by the municipal government from internally generated sources.
He pointed out that taxes are the lifeblood of the government to ensure the implementation of programmed projects and ensure the sustainable delivery of basic services so people must religiously pay their taxes to the concerned government agencies and local governments to guarantee the effective and efficient delivery of basic services for the welfare of the greater majority of the populace.
Itogon is one of the first-class towns in Benguet that heavily rely on mining as its major source of revenue from the major large-scale mining companies in the locality.
Further, the municipality hosts the operation of the 140-megawatt Binga hydroelectric power plant and the 345-megawatt San Roque hydroelectric power plant that serves as one of the major sources of renewable energy being infused into the Luzon grid.
Mayor Waclin disclosed that the municipality is open to interested investors who are interested to put up their businesses in the municipality that will help in generating jobs and livelihoods for the local residents and providing additional sources of income for the municipal government.
He claimed that businesses can flourish in the municipality because of available land for expansion and human resources from which investors can select their employees to help in bringing back the vibrance of the local economy that was heavily impacted by the COVID-19 pandemic.