Bulacan is number 1 on list of Top 10 richest provinces in the Philippines, and top performing in local revenue generation
CITY OF MALOLOS- Among 81 provinces in the Philippines, Bulacan was hailed as the number 1 performing province in highest nominal locally sourced revenues for fiscal year 2020 based on a list issued by the Bureau of Local Government Finance under the Department of Finance recently.
Bulacan’s LSR amounted to P1.72 billion which came from collected real property tax (RPT), local business tax (LBT) and other local taxes, regulatory fees and user charges, and receipts from the operations of local economic enterprises.
Governor Daniel R. Fernando said that Bulacan has been consistently placed in the top 10 provinces in the previous years, however it is overwhelming that for the year 2020, even amidst the pandemic, the province stepped up and became number one.
“Nagpapasalamat ako sa ating mga Bulakenyo taxpayers sa kanilang pagiging responsable at mabuting mamamayan. Ang pagkilalang ito ay malinaw na indikasyon ng paglago ng ekonomiya ng Bulacan maging sa gitna ng pandemya. Patunay din ito ng pagtitiwala ng mga Bulakenyo sa kasalukuyang pamamahala ng ating lalawigan. Ito ay titiyakin natin na magbubunga ng ibayong kaunlaran at lalong mabuting serbisyo para sa ating mga mamamayan,” Fernando said.
Other provinces that emerged in the top 10 list are Bataan, Rizal, Pampanga, Quezon, Batangas, Iloilo, Bukidnon, Pangasinan, and Cavite.
Moreover, the town of Marilao was also hailed as one of the top 10 municipalities in highest nominal locally sourced revenues for fiscal year 2020 with P473.95.
According to BLGF, the annual performance target of BLGF for local treasurers pertain only to taxing mandates of LGUs, such as RPT, LBT and other local taxes, regulatory fees and user charges, and receipts from economic enterprises, and excludes collections from other receipts or other general income of LGUs, such as interest income, rebates, sale of assets or properties, and other non-recurring local income. ###