Bukidnon Proposed Revenue Code of 2014: Fast Facts

Highlights
1. Real Property Tax. No changes except schedule of penalty and discount.
a.) Advance payment – 20 percent
(Advance payment which refers to those payments by the taxpayer made before the accrual of tax, where the collections from there are required which is January 1 of the succeeding year)

b) Prompt payment – 10 percent
For tax payers opting to pay annually and actually paid within the 1st quarter of the year. However, for taxpayers opting to pay in four (4) equal instalments can avail of the 10 percent discount on the amount due for the 1st quarter only, but no penalties shall be imposed on the succeeding quarterly instalments.

2.  Tax on Transfer of Real Property Ownership. Tax rate reduced from 55 percent of 1 percent to 50 percent of 1 percent.
3. Tax on business of printing and publication, No changes;
4. Franchise tax – No changes @50 percent of 1 percent or 0.005 of gross receipts.
5. Tax on Sand, Gravel, and other Quarry Resources. No changes on rate @10 percent of fair market value (FMV). Sand and Gravel current FMV P500/cubic meter @10 percent tax rate=P50 PLUS administrative fee: 75 and ecosystem services fee: P25 with a total imposition of P150/cubic meter.

6. Professional Tax. No changes @P300/individual
7. Amusement Tax. No changes @10 percent of gross receipts on admission fees; and
8. Annual fixed tax for delivery trucks and vans. 10 percent increase

Summary of increases:
(from board member Albert Lagamon):

Increase in tax:
1. 10 percent for delivery trucks and vans
2. New tax in socialized housing

Increase in fees:
1. Sand and Gravel (also increase in fair market value)
2. Veterinary
3. Agricultural products
4. Tourism Facilities
5. Hospital fees

History of Tax Revenues in Bukidnon
1992 – Ordinance No. 92-02 Real Property Tax Approved on Dec. 22, 1992. Last amendment: 2005.
1992 – Ordinance No. 92-03 Other Provincial Impositions. Approved December 22, 1992. No major revisions yet since 1992.
1997- Ordinance No. 95-03 Veterinary fees and charges. Amended on December 16, 1997.
(Bukidnon News/Source: Atty. Apollo Maguale, Secretary, Sangguniang Panlalawigan on April 4 and Board member Albert Lagamon on April 3)