mafabet LTO-NCR revenue collection posts P8.5B in 2024

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MANILA, Philippines — The Land Transportation Office – National Capital Region’s (LTO-NCR) revenue collection in 2024 has climbed by 0.49 percent compared to the same period in 2023, hitting a whopping P8.546 billion, the agency disclosed on Monday.

In a statement, LTO-NCR said the 0.49 percent hike is equivalent to at least P41.5 million, adding that the months of May, January, July, and February recorded the highest revenues.

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LTO-NCR’s Chief Accountant and Section Head Jett Sepulveda enumerated these collections as follows:

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May –  P829,395,627.07

Tagaytay’s ridge has become a hotspot for property developers, with hotels, commercial, and residential projects sprouting alongside a vibrant mix of bed and breakfasts and restaurants.

Based on the latest data, inflation eased to 1.9 percent in September, falling short of market forecasts and the Bangko Sentral ng Pilipinas’ (BSP) projected range of 2 to 2.8 percent for the month.

January – P828,782,952.98

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July – P822,532,802.13

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February – P821,526,649.58

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According to LTO-NCR, most of the revenues came from registration and licensing fees, amounting to P7,608,977,145.29 and P841,664,922.0 respectively.

The Law Enforcement and Traffic Adjudication System likewise contributed an amount of P80,367,935 while the Motor Vehicle Inspection Center added P15,117,060 to the overall revenue.

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