LINGAYEN, Pangasinan – Governor Ramon V. Guico III received the awards on behalf of the province for being ranked 7 in Locally Sourced Revenues (LSR) for the year 2024 and 10th in Year-on-Year Growth in Local Sourced Revenues from 2023 to 2024, nationwide.
Given by the Department of Finance-Bureau of Local Governance Finance (BLGF) at the SMX Convention Center in Taguig City on November 5, the award recognizes the province’s good fiscal management.
Joining Governor Guico were Provincial Treasurer Cristy C. Ubando, Provincial Assessor Atty. Geronimo M. Abad.
LSR comprises two main components such as Tax Revenues and Non-Tax Revenues. Tax revenues include Real Property Tax, Business Tax, and other taxes. Non-Tax Revenues, on the other hand, are Regulatory Fees, Service/User Charges, Receipts from Economic Enterprise, and other Receipts.
According to the BLGF, an additional parameter of LSR to National Tax Allotment ratio of at least 20% for the provinces and municipalities, and 50% for the cities, was applied.
In 2024, Pangasinan’s revenue collection reached an unprecedented P6.6 billion, a testament to the province’s commitment to sound financial leadership and efficient revenue generation.
Under Governor Guico’s leadership, key initiatives were implemented, including the amendment of revenue code and the launch of automated digital apps that boosted revenue collection from mining and quarry operators. The Provincial Treasurer’s Office likewise achieved efficient tax collection, with over collection in various local taxes, including professional tax, amusement tax, and real property transfer tax.
Some of the province’s notable achievements in the past year were as follows: 1) Gross tax collection on sand, gravel, and other quarry products reached P235,575,494.26; 2) Provincial government-run hospitals generated a record P546.14 million in hospital fees, surpassing the P400 million target; 3) permanent and non-permanent employees received P20,000 Service Recognition Incentive (SRI) as additional incentives due to increased revenue collection.
The governor attributed the province’s success to the collective efforts of the provincial government officials, local officials, and employees working towards the financial stability and growth.
(Ruby F. Rayat, photos by Ervin Alvantara | PIMRO)
