In a remarkable financial achievement, Davao City has reported a revenue collection of PHP13.4 billion for the year 2024, surpassing the set target of PHP12.7 billion, according to the City Treasurer’s Office (CTO). This figure represents a 4.5 percent increase over the previous year’s collection, as stated by Lawrence Bantiding, the officer-in-charge at the CTO. A significant portion of this revenue, 20 percent, was derived from local business taxes, highlighting the robust economic activity within the city. Bantiding expressed optimism about the city’s economic health, noting that this performance is a positive sign of thriving business activities. Looking ahead, Davao City has set an ambitious goal to collect over PHP14 billion in the current year. The increase in revenue is attributed to a rise in the National Tax Allotment, along with anticipated increases in real property and business taxes. Bantiding extended his gratitude to the taxpayers, emphasizing their crucial role in enabling the city to maintain and enhance its services.
