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the province uses outdated basis for collecting real property tax, Aklan still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.
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