Municipal Business Profile

D. Business Environment

The municipality of Carrascal like most of the local government units of our country solely depends on the Internal Revenue Allotment (IRA) given by the National Government. Local Revenues Sources came only from business taxes, real property taxes and other sources allowed by the Local Government Code of 1991. Collection of revenues however are yet to be fully maximized due to untapped taxing powers provided by RA 7160 and the LGU still needs effective mechanisms and strategies to improve its collection performance.

At present, there is no existing business organization or Chamber of Commerce in the municipality. Since business is flourishing in the area, maybe in the future the business community will organize one. In the meantime, the LGU are encouraging the business sector to participate in all economic developments. One rural bank, Bangko Carrascal, Inc., is present in the municipality.

The Local Economic Enterprise (LEE) is the primary business venture the LGU has been undertaking for a long time now. This incorporates collection in the public market (rental of stall, etc.), terminal, slaughterhouse, sports complex, multi-purpose and others. However, collection is not that intensified thus the plan to create Local Economic Development Office is formulated so as to incorporate the operation of the LEE under its umbrella.

Demography