The Covid -19 pandemic brought about a decrease in the collection of taxes in South Cotabato but the Office of the Provincial Treasurer assures the province can still recover from its losses for the remaining months of revenue collection.
Based on the Revenue and Receipts for the General Fund as of July this year, from the estimated tax revenue of Php77.16 million, the province only collected a total of Php61.43 million with a total deficit of Php15.7 million.
Provincial Treasurer Alvim M. Batol said despite the decrease, there is still a chance to recover as taxpayers continue to pay as early as the month of June and other revenues also increased.
The report also states that for the sand and gravel taxes, it increased by Php2.83 million for the first seven months. From the estimated revenue of Php6 million, a total of Php8.83 million was collected.
Batol disclosed however that there is no chance that the amusement tax can recover as it is still not allowed to open to date.
From an estimated revenue of Php600,000 for the amusement tax, the total collection only reaches Php175,900.
The report also revealed that for the total revenue collection to include tax revenue and non-tax revenue from local sources, there is an under-estimated balance of Php160.57 million.
The PTO has collected Php329.49 million only from the estimated revenue of Php489.9 million.
“Based on our forecasting on inflows and outflows of collections, we can still recover,” Batol said,