4 months ago
27
MANDAUE CITY — Mandaue City's business tax collection, fueled by early payments from major establishments, crossed the P1-billion mark before the end of January.
By Jan. 28, the Business Permit and Licensing Office (BPLO) had already exceeded its target, with large businesses, including malls and a brewery, leading the way.
BPLO Inspection Division Head lawyer Walter Shane Lumbre attributed the surge to businesses ensuring timely payments to avoid hefty penalties.
The city imposes a 25-percent surcharge and a two-percent monthly interest on late payments, which could be a significant burden for large firms.
Despite exceeding the revenue goal, BPLO recorded only around 2,000 completed payments as of Jan. 31. With approximately 16,000 active businesses in Mandaue City, a large number remains in the "for payment" category, suggesting tax collections will continue to climb.
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On Feb. 3, BPLO will begin releasing business permits and conducting inspections to ensure compliance.
Inspectors will check whether businesses have displayed their renewed permits and secured the required regulatory clearances.
Mandaue City has steadily increased its business tax collections over the years, from P685 million in 2017 to P1.5 billion in 2024.
With early payments already pushing this year's collections past P1 billion, the city expects another strong financial performance.
