Makati collects P11.77-B revenue in January, hits 61 percent of 2025 target

Makati City is on a roll this year as it has attained 61 percent of its 2025 revenue target of P19.33 billion as of Jan. 31, Makati City Mayor Abby Binay said.

Citing a report from the city treasurer, Binay said the city government's total collection reached P11,774,030,558.78 as of January 31, 2025. This is equivalent to an eight percent increase in business tax collections compared to January last year, from P6,472,694,302.12 to P6,997,579,610.36.

Business tax remains the biggest local source of revenue for the city, and the city has attained 62 percent of the target as of January.

“We are off to an excellent start this year, and we owe this largely to our business community that has been steadfast in its support and confidence in the city government throughout my term as Makati Mayor,” Binay said.

She also noted a sizeable increase in gross sales reported by Makati businesses, reaching P2.05 trillion from January to Feb. 20, 2025, which has topped by 10 percent the 2024 total gross sales of P1.87 trillion.

“In barely two months, gross sales of Makati businesses have surpassed their total earnings in 2024. It is really heartening to see that the local economy has fully recovered from the pandemic and is even stronger and more vibrant  than ever,” Mayor Binay said.

Business Permit and Licensing Office head Maribert Pagente said the city has registered 439 new businesses as of Feb.20, which brought in fresh capital investments amounting to  P3,349,899,521.56.

From January to February 20, a total of 33,453 businesses have renewed their business permits, with combined gross sales of P2,058,650,338,517.69.

On the other hand, City Treasurer Jesusa Cuneta reported a two percent increase in collections from local sources, from P11,431,837,308.67 in January 2024 to P11,613,755,582.64 in January 2025. 

Other local revenue sources include real property tax with P4,234,351,175.44 or 83 percent of the full-year target of P5.1 billion.

The city also collected P P353.3 million from local fees and charges and P23.6 million from economic enterprises. Earnings from interest amounted to P58.3 million.

Still among few local government units that are not dependent on funds from the national government, Makati received P99.46 million in National Tax Allotment (NTA) and P2.47 million as share from economic zone this January.