SUBIC BAY

SUBIC BAY

METROPOLITAN AUTHORITY

SUBIC BAY METROPOLITAN AUTHORITY    
Bagong Pilipinas
SBMA - Electronic Billing and Payment System

SBMA releases 203-M revenue shares; new chief forges strong partnerships with neighboring LGUs
Aug 19, 2023

Subic Bay Freeport — Subic Bay Metropolitan Authority (SBMA) Chairman and Administrator Jonathan D. Tan and mayors of the eight local government units (LGUs) adjacent to this free port forged strong partnerships as the Subic agency formally turned over revenue shares for localities contiguous to and affected by the operations of this premier freeport.

LGU shares are derived from the 2% of the 5% corporate taxes paid by Subic Bay Freeport-registered enterprises from January to June 2023, which amounted to ₱207.65 million.

Less net retention amount of Php4.62 million, LGU shares in the amount of ₱203 million were turned over by Tan for the first time during a simple ceremony at the Subic Bay Travelers Hotel.

Grateful for the positive turnout of LGU officials, Tan gave a briefing of the future development projects that the agency will be undertaking during the next few years of his term.

“These development projects will surely add value to the agency as it makes an effort to attract more investments; and with more investments, more jobs will be created not only for the residents of the neighboring towns of Subic, but also for the residents of neighboring provinces,” Tan assured.

With this, Tan also asked the beneficiary-LGUs for their help and cooperation in promoting Subic Bay Freeport to prospective investors.

“The more investments we get, the more jobs we create. The more revenues we generate, the more shares the LGUs get,” he added.

For the province of Zambales, Olongapo City mayor Rolen Paulino, Jr. received the highest share in the amount of ₱47.46 million; Subic mayor Jon Khonghun received ₱30.5 million; a representative of Castillejos mayor Jeff Khonghun received ₱18.5 million; San Marcelino mayor Elmer Soria received ₱24.38 million; and San Antonio mayor Edzel Lonzanida received ₱17.27
million.

Meanwhile, for the province of Bataan, Dinalupihan mayor German Santos, Jr. received ₱25.28 million; Hermosa mayor Joseph Inton received P21.7 million; and last but not the least, Morong mayor Cynthia Estanislao received ₱17.9 million.

The ₱207.65-million revenue share covers the first semester of 2023, with ₱16.14 million retention from the first semester 2021 collection, less ₱20.76 million for the current collection’s ten percent retention.

These revenue shares are intended to supplement development projects in health, education, peace and order, and livelihood generation of the contiguous LGUs.

The SBMA started releasing the shares directly to LGUs in August 2010 to ensure their prompt
remittance to the local communities. The LGU share is determined according to population (50 per cent), land area (25 per cent), and equal sharing (25 per cent), which are then released
periodically in August, for the first semester, and February the following year, for the second semester.



News 2023

SBMA FB Page SBMA LinkedIn @SBMA_Subic Bay


Subic Bay Metropolitan Authority All Rights Reserved. Bldg. 229 Waterfront Road, Subic Bay Freeport Zone, Philippines.

Voice: +6347 252 4000 Fax: +6347 252 4185 | Terms of Use | Sitemap

ISO Certification

ISO Certified - DQS

Transparency Seal

Transparency Seal

Freedom of Information

Freedom of Information