News & Updates

Pangasinan is country’s Top 7 high-earning province for 2022

LINGAYEN, PANGASINAN—Pangasinan is recently cited as Top 7 high-earning province in the country out of 81 provinces.

This developed after the Commission on Audit (COA) released its Annual Financial Report of Local Government Units (LGUs) for the year 2022.

As stated in the report, Bulacan topped the list with P8,392.88 billion, followed by the provinces of Cavite- P7,916.78 billion; Ilocos Sur- P7,526.30 billion; Rizal- P7,430.79 billion; Cebu- P7,148.62; Batangas,-P6,697.54 billion; Pangasinan-P6,441.55; Laguna- P6,330.27 billion; Negros Occidental- P6,224.76; and Quezon- P6,186.98 billion.

Under the administration of Governor Ramon V. Guico III, good fiscal management was prioritized. Thus, strict implementation of the updated revenue code of the province is observed.

The Provincial Treasury Office (PTO) attributed the tremendous increase to the Updated Revenue Code thru the passage of Provincial Tax Ordinance No. 1-2022 and strict implementation and monitoring of various impositions by the Provincial Environment and Natural Resources Office (PENRO), Provincial Veterinary Office (PVO), and Provincial Assessment Office (PAsO).

As reported by the PTO, the actual total tax revenue (Local and National Taxes) as of December 31, 2022 amounted to P5,909,251,430.76 while the total service and business income totaled to P339, 674, 581.21. Other tax impositions also contributed to the total amount collected for the said period.

With its continuous implementation of strict policy on tax collections and well-managed expenditure of the province, more development projects that are expected to further raise Pangasinan’s revenue, are on deck.

Cristy C. Ubando, OIC-Provincial Treasurer’s Office, earlier revealed that revenue collection for the first quarter of 2023 exceeded the target and had a sharp increase on quarry collection which already reached 309.20%. This, she stated, is expected to soar even higher in the last few months of 2023.

Sources of income taxes of the province come from the following: Professional Tax, Franchise Tax, Real Property Tax (Transfer Tax), Tax on Sand, Gravel & Quarry Products, Tax on Delivery Trucks and Vans, Fines and Penalties (Property Tax), Fines and Penalties (Taxes on Goods and Services).

With the intensified fiscal reforms initiated by the present administration, Pangasinan is expected to further improve its placement in terms of revenue collections in the years to come.

(Ruby R. Bernardino/Pangasinan PIO)

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