Pangasinan: The Department of Finance-Bureau of Local Government Finance (DOF-BLGF) has recognized the Pangasinan provincial government for its achievements in financial management. The province was ranked seventh in Locally Sourced Revenues (LSR) for 2024 and 10th in Year-on-Year Growth in Local Sourced Revenues from 2023 to 2024 nationwide.
According to Philippines News Agency, LSR includes tax revenues such as real property tax and business tax, while non-tax revenues cover regulatory fees, service charges, and receipts from economic enterprises. The Pangasinan Public Information and Media Relations Office (PIMRO) reported these details on Thursday. An additional parameter of LSR to National Tax Allotment ratio of at least 20 percent for the provinces and municipalities, and 50 percent for the cities, was applied by the BLGF.
Officials from the provincial government received the recognition during the LSR awarding ceremony at the SMX Convention Center in Taguig City. In 2024, Pangasinan’s revenue collection reached PHP6.6 billion, following amendments to the revenue code and the launch of automated digital applications under the leadership of Governor Ramon Guico III. These initiatives enhanced revenue collection from mining and quarry operators.
The Provincial Treasurer’s Office achieved efficient tax collection, with over-collections in various local taxes, including professional tax, amusement tax, and real property transfer tax. The gross tax on sand, gravel, and quarry products reached PHP235.57 million, and provincial hospitals earned PHP546.14 million, surpassing the PHP400 million target. Employees also received a PHP20,000 Service Recognition Incentive as a result of the increased revenue.
Governor Guico credited the success to the collective efforts of provincial government officials, local officials, and employees working toward financial stability and growth. “This is due to the reforms in the programs and policies that implement responsible financial management,” Guico stated on his social media page.
