As per summary report made by Ibaan Municipal Treasurer Mrs. Dolor Guerra, business tax collection posted an average increase of 18.25% from 2010 to 2014.
One of the many income sources for the local government of Ibaan, business tax collection made a significant increase between 2010 and 2011 with 33%. However, the year 2013 and 2014 somehow failed to sustain the trend where collection escalated to only 2%.
While the 18.25% average increase in the last four years proved to be promising, it went however to a downward trend in terms of percentage change by the end of 2014. The peso amount on the other hand registered volatile figures in between years.
Below are the collections made on business tax for the year 2010 – 2014:
Year / Business Tax Collection
- 2010 / P3,448,180.00
- 2011 / P4,601,397.00
- 2012 / P5,497,101.00
- 2013 / P6,516,749.00
- 2014 / P6,670,119.00
Based on the figures above, the best year would be between 2010 and 2011.
From P3,448,180.00 in 2010, it jumped to P4,601,397.00 in 2011. The collection upsurged by P1,153,217.00 equivalent to 33.4%.
From 2011 to 2013, the collection still recorded a continuous increase in peso amount. The amount change between 2011 and 2012 was set at P895-704.00, then rose again to P1,019,648.00 in 2013, or equivalent to 19% respectively. But by the end of 2014, it dived deep to only P153,370.00, equivalent to 2%.
While there are number of reasons and interpretations that can be made from the figures above, the Treasurer’s Office is still optimistic that they’ll still be able to make improvements on their collection in years to come. The local government on the other hand remains thankful to the business community for complying with their obligations in terms of business tax.