Ilocos Sur, Quezon City post highest revenues among provinces, cities in 2024

This is AI generated summarization, which may have errors. For context, always refer to the full article.

Ilocos Sur overtakes 10 other provinces, thanks to the release of P6.901 billion in its share in the tobacco excise taxes

MANILA, Philippines – Batangas and Pampanga are out of the Top 10 provinces with the highest revenues, displaced by the entry of Ilocos Sur and Isabela in 2024. 

Ilocos Sur posted the highest revenue among the provinces in 2024 with P9.721 billion. The amount is more than double the P4.039 billion revenue it posted in 2023. 

Pushing Ilocos Sur to the No. 1 spot was the release of P6.901 billion in its share in the tobacco excise taxes in 2024, almost four times the P1.487 billion it received in 2023. The province is the Philippines’ largest tobacco producer. 

Other sources of revenues for the province were: 

• Taxes from goods and services
• Fines and penalties – from P109.4 million in 2023 to P181.875 million in 2024 
• Internal revenue collections – from P1.73 billion to P1.837 billion.

In its ascent to No. 1, Ilocos Sur not only dislodged Bulacan, it also overtook 10 provinces in the old list. Bulacan, now at No. 2, posted P8.811 billion in revenue in 2024, up from 2023’s P7.333 billion. 

Third on the list was Cebu province, which posted a P7.763 billion revenue, up from P6.678 billion. The fourth highest revenue was posted by Pangasinan at P7.727 billion, up from 2023’s 5.865 billion. Fifth was Rizal with P7.55 billion, a downgrade from P6.949 billion it posted in 2023. 

The Top 10 provinces with the highest revenues in 2024 were:

1. Ilocos Sur – P9.721 billion
2. Bulacan – P8.811 billion
3. Cebu – 7.763 billion
4. Pangasinan – P7.727 billion
5. Rizal – P7.55 billion
6. Cavite – P7.308 billion
7. Isabela – P6.933 billion
8. Quezon – P6.271 billion
9. Negros Occidental – P5.96 billion
10. Laguna – P5.892 billion

The data were based on the 2024 Annual Financial Report (AFR) on local governments, which covered only 81 provinces. The Philippines split the old Maguindanao province in 2023 into Maguindanao del Norte and Maguindanao del Sur, bringing the total provinces to 82.  

QC remains No. 1, Top 10 cities almost unchanged

Meanwhile, among the 147 component and independent cities, Quezon City remained with the highest revenues in 2024 at P31.434 billion, up from P29.143 billion the year before. 

The rest in the Top 10 were the same cities from 2023, with changes only in raking. 

The 10 cities with the highest revenues in 2024 were: 

1. Quezon City – P31.434 billion
2. Makati City – P21.876 billion (from 3rd spot in 2023)
3. City of Manila – P21.837 billion (from 2nd spot in 2023)
4. Taguig City – P20.569 billion
5. Davao City – P17.561 billion
6. Pasig City – P17.004 billion
7. Parañaque City – P10.638 billion
8. Pasay City – P9.504 billion
9. Cebu City – P9.221 billion (from 10th spot in 2023)
10. Caloocan City – P8.698 billion (from 9th spot in 2023)

To access the Commission on Audit’s 525-page AFR on local governments, click here. – Rappler.com