Makati collected P16 B in revenue by end-June

The city government of Makati collected P16 billion in revenue as of end-June, hitting 87 percent of its P18.42-billion target for this year while attaining 94 percent of its target collection from local sources, Mayor Abby Binay said yesterday.

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Binay expressed confidence that the city will surpass its revenue target of P18.42 billion by yearend despite a 40-percent decrease in the National Tax Allotment (NTA) share due to the transfer of 10 enlisted men's barrios or embo barangays.

"The reduced share of Makati had minimal impact on our financial stability. We are optimistic that we will again exceed this year's revenue target," Binay said.