Finance managers in Dumaguete were tasked to collect P125 million in local taxes and revenues this year to meet the city's financial requirements, city treasurer Cristina Merced said yesterday.

The city has an expected internal revenue allotment of P178 million, and its budget for 2008 is over P300 million, Merced added.

Unlike other local government units in Negros Oriental, she said that Dumaguete is not solely depending on its IRA share to reach the P125 million target.

Meanwhile, the Dumaguete Treasurer's Office has set the deadline for the renewal of business permits on January 20.

Merced said the failure to meet the deadline will mean a 25 percent surcharge and 2 percent interest on delinquent business taxpayers, after the lapse of the extension period as provided for in an ordinance passed by the Sangguniang Panlungsod.*JG

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