EACH share of Internal Revenue Allotment (IRA), now called National Tax Allotment (NTA), for next year (2023) to every local government unit (LGU) in the country is slashed, according to Bohol Provincial Budget Officer Peter Ross Retutal.<\/p>\n\n\n\n
LGU refers to barangays, municipalities, cities (including highly urbanized ones) and provinces.<\/p>\n\n\n\n
The NTA cut, which is 14.47% decrease, is an offshoot of the reduced tax collection in 2020 by agencies concerned, like the Bureau of Internal Revenue (BIR), due to the pandemic, he added.<\/p>\n\n\n\n
COVID -19 pandemic instigated the shutdown of businesses in the country, including Bohol, when government enforced lockdown in past two years.<\/p>\n\n\n\n
This prompted the Department of Budget and Management (DBM) to issue Local Budget Memorandum No. 85, on June 15, 2022, guidelines on the preparation of the fiscal year 2023 annual budget of the LGUs.<\/p>\n\n\n\n
The Provincial Government of Bohol\u2019s share of P3,302,823,605.00 for this year (2022) to P2,824,908,290.00 for 2023, a slash of P477,915,315.00, data of the budget office showed.<\/p>\n\n\n\n
Tagbilaran City\u2019s NTA share will lose a total of P99,537,249.00 as a result from P688,583,478.00 (2022) down to P588,946,129.00 for 2023.<\/p>\n\n\n\n
Ubay town\u2019s share, the biggest aside from the city, is expected to receive P302,036,642.00 for 2023 from P353,134,915.00 in 2022, a difference of P40,998,273.00.<\/p>\n\n\n\n
Sikatuna town, the smallest in terms of NTA share, would only be expecting to have P70,717,003.00 for 2023 from this year\u2019s P82,680,838.00, a difference of P11,963,725.00.<\/p>\n\n\n\n
Retutal said that 2023 NTA shares to LGUs are based on the tax collection in 2020 and this year\u2019s (2022) from tax collection in 2019.<\/p>\n","protected":false},"excerpt":{"rendered":"
EACH share of Internal Revenue Allotment (IRA), now called National Tax Allotment (NTA), for next year (2023) to every local government unit (LGU) in the country is slashed, according to Bohol Provincial Budget Officer Peter Ross Retutal. LGU refers to barangays, municipalities, cities (including highly urbanized ones) and provinces. The<\/p>\n","protected":false},"author":2,"featured_media":107,"comment_status":"closed","ping_status":"closed","sticky":false,"template":"","format":"standard","meta":{"om_disable_all_campaigns":false,"footnotes":""},"categories":[7,13],"tags":[],"class_list":["post-2938","post","type-post","status-publish","format-standard","has-post-thumbnail","hentry","category-news","category-top-stories",""],"yoast_head":"\n