LGUs to receive P871 billion in national tax allotment for 2024

The national tax allotment (NTA) for local government units (LGUs) is programmed to increase to P871.3 billion in 2024, the Department of Budget and Management (DBM) said.

The allotment for 2024 is 6.23 percent higher than this year’s NTA shares of P820.2 billion.

According to the DBM, the increase in the 2024 NTA shares of LGUs resulted from higher revenue collections in 2021 vis-à-vis revenue collections in 2020, which can be attributed to the economy gradually reopening from the period of lockdowns during the height of the COVID-19 pandemic.

The DBM said that the 83 provinces were allotted P200.42 billion in the proposed NTA shares.

Meanwhile, the 148 cities and 1,486 municipalities were allocated P201.2 billion and P295.4 billion, respectively, while P174.2 billion was earmarked for the 41,953 barangays in the country.

Each LGU is also mandated to appropriate no less than 20 percent of its NTA share for development projects.

Subscribe to

Stay in the know with Bilyonaryo’s unparalleled coverage of business news and global industries!

Elevate your understanding of the Philippine business landscape and gain insights into worldwide markets by subscribing to our dedicated channels. Receive breaking news, in-depth analyses, and exclusive interviews with industry leaders directly on Viber, WhatsApp, and Facebook. Stay informed and empowered with our Email Newsletter, delivering curated content right to your inbox.

Don’t miss out on crucial updates and trends shaping economies and businesses both locally and internationally.

Join Bilyonaryo’s community today by clicking the button below to subscribe and stay ahead in the dynamic world of business.

Share this Bilyonaryo story