The Land Transportation Office-National Capital Region (LTO-NCR) has collected more than P4.5 billion revenue for the second half of this year, which it said, reflected an increase compared to the same period in 2022.
LTO-NCR director Roque Verzosa said the P4,551,670,401.06 revenue collection from January to June this year is 14.06 percent higher compared to the P3,990,672,062.56 collected in the first half of 2022.
The revenue collection for the first sox months of this year, according to Verzosa, made the LTO as among the government’s top revenue-generating agencies.
Last year, Verzosa said the LTO-NCR has collected P7.82 billion and he said they are aggressively pushing measures to further increase it.
The LTO’s revenue collections primarily stem from motor vehicle taxes, driver's license issuance, and fines and penalties collected from traffic rule violators.
Verzosa revealed that the largest portion, amounting to 60.4 percent of the total collected revenue, originated from District Offices primarily catering to Motor Vehicle and Motorcycle renewals.
He said 30.7 percent of the revenue came from Law Enforcement and Traffic Adjudication Services (LETAS), Public Utility Vehicle Registration Centers (PUVRC and PUVREC), LTO-owned Motor Vehicle Inspection Centers (NMVIC and SMVIC), New Registration Units (NRU), and LTO-On-Wheels while 3.7 percent came from LTO-NCR's Licensing Centers.
Around 3.1 percent from the Driver's License Renewal Offices, 2.1 percent from LTO-NCR's extension offices.