The National Tax Allotment (NTA) share of local government units (LGUs) for fiscal year 2024 has been pegged at P878.38 billion, the Department of Budget and Management (DBM) said Friday.
In a statement, the DBM said the amount was determined as it released the guidelines on the preparation of LGUs’ annual budgets for next year.
The Budget Department said the 2024 NTA level of LGUs is P51.11 billion or 6.23% higher than this year’s NTA shares. The memorandum contained the factors in the allocation of the fiscal year 2024 NTA shares of the LGUs consistent with the codal formula provided in the Local Government Code of 1991 and in compliance with the Mandanas-Garcia ruling granted by the Supreme Court, which ruled that LGUs should have a share on all national taxes and not only on internal revenue taxes.
The DBM said the memorandum further says that municipalities are entitled to an NTA share of P295.47 billion, cities with P201.22 billion, provinces with P200.42 billion, and barangays with P174.28 billion.
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