Strong start: Makati hits 61% of revenue target for 2025 in January alone

Makati City has achieved 61 percent of its full year revenue target, collecting P11.77 billion in the first month of the year on the back of higher business tax payments, which Mayor Abby Binay attributed to the continued recovery of companies headquartered in the city.

In a statement, she said the local government unit — which oversees the country's premier business district — is targeting total revenues of P19.33 billion in 2025. 

Citing a report from the City Treasurer, Binay said business tax collections saw an 8-percent increase compared to January last year, rising from P6.47 billion to P6.99 billion.

Business taxes remain the city’s primary local revenue source, with 62 percent of the annual target already met.

Abby Binay

The Makati City Mayor said the local economy has recovered from the pandemic.

“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.

Higher sales in Makati 

She also noted that gross sales reported by businesses in Makati reached P2.05 trillion from January to Feb. 20, surpassing the total gross sales of P1.87 trillion recorded for the entire year of 2024.

“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,” she added.

Business Permit and Licensing Office head Maribert Pagente said the city registered 439 new businesses as of Feb. 20, bringing in fresh capital investments worth P3.35 billion.

Meanwhile, 33,453 businesses renewed their permits, reflecting combined gross sales of P2.06 trillion.

City Treasurer Jesusa Cuneta reported that overall collections from local sources increased by 2 percent, from P11.43 billion in January 2024 to P11.61 billion in January 2025.

Other revenue sources

Makati’s other local revenue sources included real property tax collections amounting to P4.23 billion, or 83 percent of the full-year target of P5.1 billion. The city also generated P353.3 million from local fees and charges, P23.6 million from economic enterprises, and P58.3 million in interest earnings.

As one of the few local government units not dependent on national government funds, Makati received P99.46 million from the national tax allotment and P2.47 million from its share in the economic zone revenues this January.