fbpx Press "Enter" to skip to content

OFFICIAL: Manufacturing companies are better tax generators

The City Treasurer’s Office (CTO) has called on manufacturing companies to set up their operations in the city as these will enhance its revenue generation capacity.

“The (operations manufacturing companies) will maximize revenue (generation) because the tax for manufacturing is higher compared with that of retailer. And of course, manufacturers also declarehigher gross receipts compared with retailers,” CTO head Erwin Alparaque said.

Based on the data of the Philippine Statistic Authority (PSA), the manufacturing sector expanded by 4.6% during the first quarter of the year compared with the same period last year.

It is also among the top three sectors with the biggest workers as based on the data, it generated about 1.3 million workers in 2015.

The Annual Survey of Philippine Business and Industry (ASPBI) data also revealed in 2015, there were 24, 496 manufacturing establishments in the country. Last year, there were 1,781 manufacturers last year compared with 15,709 retailers.

“We can see a lot of retailers in malls, every single boutique or shop is considered as retailers,” Alparaque said.

He said some companies that have bases outside of the city but have established operations in the city and are also paying manufacturing tax “because this is an extension of their business operation”.

Share this post:
error
Facebook
Facebook
Twitter
Visit Us
Instagram
RSS