Funding education through better real property valuation bworldonline.com - get the latest breaking news, showbiz & celebrity photos, sport news & rumours, viral videos and top stories from bworldonline.com Daily Mail and Mail on Sunday newspapers.
Published May 21, 2021, 12:12 AM
The Philippine government continues to find ways to revitalize a sluggish economy from recession and to overcome an ongoing pandemic with a national public health infrastructure that is barely coping with its deleterious effects. While attention is presently focused on ramping up vaccinations to facilitate the reopening of the economy, the Department of Finance is also prodding local government units (LGUs) to improve and optimize their revenue-raising capacity.
This comes after the DOF’s Bureau of Local Government Finance (BLGF) had earlier lowered revenue targets for LGUs from an initial pre-pandemic goal of P321.6 billion to P223.9 billion, or 30 percent lesser. From this, P165.2 billion is expected to come from cities, P26.47 billion from municipalities, and P32.32 billion from provinces.
Gov t eyes credit rating system for LGUs by 2022 bworldonline.com - get the latest breaking news, showbiz & celebrity photos, sport news & rumours, viral videos and top stories from bworldonline.com Daily Mail and Mail on Sunday newspapers.
By LLANESCA T. PANTI, GMA News
Published April 28, 2021 6:40pm President Rodrigo Duterte has established an Inter-Agency Governing Board (IGB) to implement local government reforms. This is provided under Administrative Order 40 issued by the President on Wednesday, April 28, which stated that the IGB will be implementing the Local Government Reform Project (LGRP) in partnership with the Asian Development Bank (ADB) to boost local government revenue mobilization through improvements on the administration and management of real property taxes. The IGB will be headed by Finance Secretary Carlos Dominguez III and will have representatives from the following entities as members: National Economic and Development Authority
Real property valuation reform seen to boost government revenues bworldonline.com - get the latest breaking news, showbiz & celebrity photos, sport news & rumours, viral videos and top stories from bworldonline.com Daily Mail and Mail on Sunday newspapers.