SUBIC BAY

SBMA gives 180.67-M revenue shares to neighboring LGUs
Jul 18, 2022

Subic Bay Freeport—Eight neighboring local government units (LGUs) of this premier Freeport recently received its share of revenues from the Subic Bay Metropolitan Authority (SBMA) amounting to 180.67 million.

Derived from the agency’s revenue collection from January to June this year, SBMA chairman and administrator Rolen C. Paulino led the distribution of shares to local government officials in a simple ceremony at the newly opened En Izakaya & Global Cuisine by Sakura restaurant.

“I am optimistic that under the leadership of our new President Ferdinand Marcos, Jr., our economy will improve and LGU shares will be bigger especially if more investors will invest in Subic,” Paulino said.

Paulino also urged everyone to help each other like the way the SBMA patronizes businesses in the Freeport by holding meetings and other events in various establishments, rendering their services. This way, he said, businesses here are able to earn and pay their rent and the salaries of their employees.

He said that this practice would also be beneficial to potential investors who would want to make it happen in the Philippines when they invest in Subic Freeport.

During the turnover ceremony, Olongapo City mayor Lenj Paulino received the biggest at 42.02-million; while, Subic, Zambales municipal treasurer Rosemarie Custodio received 27.62-million; Dinalupihan, Bataan mayor Herman Santos received 22.47-million; San Marcelino, Zambales municipal treasurer Eleanor Damasco received 21.65-million; on behalf of Hermosa, Bataan mayor, Atty. Anne Inton received 18.81 million; Castillejos, Zambales mayor Jeff Khonghun received 16.91-million; Morong, Bataan assistant municipal treasurer Ma. Teresita Reyes received 15.7-million, and San Antonio, Zambales mayor Edzel Lonzanida received 15.48-million.

Meanwhile, SBMA Deputy Administrator for Finance Antonietta Sanqui said that the LGU shares are determined according to population (50 per cent), land area (25 per cent), and equal sharing (25 per cent).

“The revenue shares being released by the SBMA every semester are derived from the corporate tax, which is two percent of the five-percent special tax it collects from business locators in the Subic Bay Freeport Zone,” she explained.

Sanqui added that the SBMA has been releasing revenue shares directly to the LGUs since August 2010.  Previously, corporate taxes were remitted first to the national government, which would then distribute the shares to the concerned LGUs.

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