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LGUs' National Tax Share Rises to 35% Next Year – Recto
The Philippine Star
|January 17, 2025
Local government units (LGUs) would be getting 35 percent of the national taxes beginning next year as earmarking of the incremental increases in state revenues is set to expire, the Department of Finance (DOF) said.
Finance Secretary Ralph Recto said LGUs' national tax allotment (NTA) shares next year would increase from the current 32 percent as the earmarking of higher revenues generated from additional taxes under the TRAIN Law would expire this year.
"By 2026, there will be additional revenues for the local government units," Recto said yesterday.
He explained that the DOF calculated the LGUs' NTA based on the 2019 Mandanas-Garcia Supreme Court ruling, opinion of the Department of Justice and a Department of Budget and Management resolution concerning the matter.
Denne historien er fra January 17, 2025-utgaven av The Philippine Star.
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