City council eyes amendment to 'obsolete' Revenue Code
BACOLOD CITY – The Sangguniang Panglungsod of Bacolod City passed on first reading a proposed amendment to the existing Revenue Code which was adopted more than ten years ago.
Vice Mayor Jude Thaddeus Sayson said that the existing Revenue Code is very obsolete and inappropriate compared to that of other local government units. He said that even in our existing burial fee, the city only collects 5 pesos which is very very low compared to the standard rate collected by some other towns and cities. "We need to upgrade our revenue code because even our burial fee is only 5 pesos," Sayson said.
He said that after the committee on ways and means accepted this new revenue code, the next step is to conduct a public hearing where the city council would invite all the stakeholders to participate in the deliberation on the new rates. "The amendment of the tax code was studied for more than a year already," he stressed.
Last SP Regular Session, Ways and Means Committee Chairman Diosdado Valenzuela accepted the communication from the City Mayor's Office requesting for a thorough deliberation on the new tax code. Sayson is very optimistic that with the passage of this New Revenue Code, the city could go beyond its P1 billion projected budget.
According to Sayson, the adjustment or the new rate is a product of the workshop conducted by the Department of Finance in Iloilo City last three months ago. Said workshop was attended by Councilor Al Victor Espino and Councilor Valenzuela. The purpose of the seminar is to encourage all Local Government Units to implement a new tax code that could sustain their operations and budget.
Aside from the burial fee, other taxes that need adjustment are subdivision fees, permits and amusement fees. This new tax code incorporates all fees in the public markets and other local agencies.