Capitol updating revenue code to generate more funds by 2023

The Negros Occidental provincial government is updating its Provincial Revenue Code to enable it to generate more funds by 2023, Provincial Administrator Rayfrando Diaz said on Friday, August 5.

The last time the provincial government updated its revenue code, which covers property, business and franchise taxes, rentals of provincial government facilities, and service fees, including those of its hospitals, was in 2017, he said.

The increases will not be exorbitant, they will still be lower than other government and private facilities, Diaz assured.

Part 1 of the proposed 2022 Provincial Revenue Code of Negros Occidental has been submitted to Governor Eugenio Jose Lacson for his consideration, he said.

Once the governor approves the code, it will be submitted to the Sangguniang Panlalawigan for hearing and approval on an ordinance, Diaz added.

The adjusted rates were decided on after extensive deliberation by the Committee on Amendments and the revenue-generating offices of the provincial government spearhead by offices of the provincial treasurer and administrator.

 Part 2 of the Code, the Provincial Mining Act, will be submitted by the Provincial Environment Management Office at a later date, Diaz said.

The proposed revenue code needs to be reviewed and approved by the Sangguniang Panlalawigan so that an appropriate ordinance can be enacted before the year ends, and new rates can take effect in 2023, Provincial Treasurer Amy Grace Bolivar said in a letter to the governor.

“With the adoption of the updated revenue code, we anticipate that the province will be able to raise additional funds to support the implementation of development initiatives and the effective and efficient provision of services to its citizens,“ she added.*

Secured By miniOrangeSecured By miniOrange