Albay Tops in Tax Collection; Emerges as Investment Hub in Bikol

LEGAZPI CITY, July 26  - Albay is emerging as the economic hub in the region as it continuously leads and surpasses its internal revenue collection goal among the six Bicol provinces, the local Bureau of Internal Revenue (BIR) office said.

BIR report claimed that of the P2.4-billion tax collected for the first semester of this year, P901 million or 37 percent came from Albay, followed by Camarines Sur with P787 million; Camarines Norte - P257 million; Masbate - P197 million; Sorsogon - P180 million and Catanduanes with P103 million.

Lawyer Diosdado Mendoza, BIR regional director, said over the weekend the P2.4-billion tax revenue collected during the first six months of the year was P468 million or 23 percent above the target goal of P1.9 billion.

He said the tax revenues were derived mostly from withholding taxes from fixed income earners, business, professions, and value added tax (VAT).

Mendoza said P1.8 billion in taxes was collected last year, surpassing with P548 million or 29 percent against the 2009 target.

Mendoza said his agency is expected to raise some P4.4 billion this year, and half of the goal had been already achieved by the first half of this year.

Based on tax collection efficiency, Albay was consistent for several years as the leading in tax collection because of the industries and business centers set up here, making the province the rising business and economic center in the region.

Albay Governor Salceda said the province's economy is gaining grounds because of investors' confidence on the province's socio-economic platform that would firmly position the province in the country's economic road map for investment and tourism.

Salceda said the platform has 5 Es which stand for Economy, Education, Environment, Equity and Health. This, he added, would place Albay in the map of the country as trade, investment and tourist center.

The notable projects of 5 Es include, among others: the Southern Luzon International Airport (SLIA), Guicadale Business Platform, National Renewable Energy Program, Barangay Capacity enhancement, 4Pcs, Higher Education Contribution Scheme, Education Quality for Albayano (EQUAL), Albay Higher Education Contribution Scheme (AHECS), Bicol University and the Bicol Regional Training and Teaching Hospital modernization and the Universal PhilHealth coverage.

Meanwhile, the BIR would intensify tax collection target in Bikol by launching tax campaigns that would run after tax evaders and cheats. Mendoza said they are in pursuit of P320-million worth tax evasion cases involving persons and companies with businesses in the cities of Legazpi, Tabaco, Masbate and in Camarines Sur.

To further improve tax revenue generation and monitoring and prosecution of tax cheats, the bureau also launched campaigns such as "Txt-Tax Brigade"; Tax me Not campaign (Knowing the Limitation of Tax Exemption) and "Be inspired with Reward". (PNA)