Revenue-generating agencies and offices under the Philippine Department of Transportation (DOTr) remitted a total of P25.78 billion to the Philippine national treasury in 2016.
According to the DOTr, the Land Transportation Office (LTO) accounted for the bulk with P21.35 billion, followed by Maritime Industry Authority (Marina) with P1.12 billion; Toll Regulatory Board, P934 million; Office of Transport Security (OTS), P831 million; and Land Transportation Franchising and Regulatory Board, P689 million.
Remittances for the first quarter of 2017 amounting to P7.095 billion have also been turned over to government coffers. LTO has so far contributed P5.76 billion, followed by Marina and OTS with P294 million each.
“The DOTr has one of the biggest appropriations and we have some of the most ambitious projects. But, what others do not know is that we are also contributing to the government in every way we can,” Transportation Secretary Arthur Tugade said in a statement.
He has directed revenue-generating agencies under the DOTr to improve collection in order to contribute to government funds.
Three government-owned and controlled corporations (GOCCs) under the agency were also among state-owned companies with the highest dividends remitted to the national treasury for 2016. Manila International Airport Authority turned over P2.26 billion; Civil Aviation Authority of the Philippines (CAAP) P1.98 billion; and Philippine Ports Authority, P1.95 billion during the period.
DOTr said Tugade had instructed CAAP to start remitting under his term after not turning over P6.31 billion worth of dividends from 2011 to 2015.
The three GOCCs were among the top five state-owned companies to remit the highest dividends in 2016, making up the bulk of the total P14.02 billion dividends turned over by GOCCs.
Other transportation agencies among the top GOCCs to remit dividends are the Cebu Port Authority (P295 million) and the Mactan Cebu International Airport Authority (P170 million).
To enhance transparency and increase revenue, the Department of Finance has revised the implementing rules and regulations (IRR) of Republic Act No. 7656 or the Dividend Law. Under the new IRR, corporate income tax returns filed with the Bureau of Internal Revenue will be used in dividend computation.
