Posted July 21, 2014
Written by Gloria Villas
Aklan province ranked first place out of the eighty (80) provinces nationwide in Tax Watch ad by the Department of Finance (DOF) in terms of local revenue generation for year 2013 released on June 18, 2014.
Although the province uses outdated basis for collecting real property tax, Aklan still garnered the highest share of Locally Sourced Income (LSI) to Annual Regular Income (ARI) at 45.3%, as it was able to generate locally sourced income of P491.755 million out of its total annual income of P1.086 billion.
The DOF stated that local autonomy can be better served if LGUs become self-reliant communities.
Meanwhile, Aklan continues to progress and improve due to its competent and effective management in running financial affairs.