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Bataan Ranks 2nd on LSI generation

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  • 1 Bataan .
  • 10 years ago

With Bataan’s Estimated Annual Regular Income (EARI) of Php 946,748,938; Php 293,195,155 was generated from Locally Sourced Income (LSI) and Php 653, 589, 783 was from the National Government Allocation (NGA), this means that 31.0% of the Province’s Annual Regular Income (ARI) was locally sourced.

BIR said that since the Local Government Code has been enacted, local government units (LGUs) have been given the power to generate local income to fund basic services.

“However, after more than 20 years of fiscal decentralization, locally sourced income still share very little to the annual regular income of provinces. The rest of the regular income are mandatory shares from IRA and other national government revenues,” BIR said.

Aklan generated the highest LSI at P491.76 million or 45.3 of its regular income of P1.9 billion while Sulu generated the lowest LSI at P1.04 million or only 0.1% of its regular income of P700.61 million in 2013.

Source: http://www.rappler.com/business/economy-watch/60912-bir-ad-provinces-living-off-govt-allocation

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