2 days ago
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SUBIC BAY FREEPORT — Seven local government units (LGUs) located in the proximity of this premier freeport received their revenue share from the Subic Bay Metropolitan Authority (SBMA) amounting to P143 million.
SBMA chairman and administrator Eduardo Jose Aliño said the neighboring LGUs are entitled to a share of the SBMA's revenue to supplement their community development funds and support their projects in tourism, infrastructure, education, peace and order, health, and livelihood generation.
Aliño said the amount the LGU received was determined according to population (50 percent), land area (25 percent) and equal sharing (25 percent).
Olongapo City received the biggest chunk of the incentive with P33.48 million followed by Subic, Zambales (P21.48 million); Dinalupihan, Bataan (P17.83 million); San Marcelino, Zambales (P17.19 million); Hermosa, Bataan (P15.33 million); Castillejos, Zambales (P13.02 million); Morong, Bataan (P12.66 million); and San Antonio, Zambales (P12.17 million).
The SBMA's accounting department said the amount released accounted for two percent out of the five percent tax on gross income paid for by freeport locators from July to December 2024. The other three percent of the taxes paid are remitted directly to the national government.
The LGU shares are released twice a year. The first-semester collection is released in August while the second-semester collection is released in Febru-ary of the following year.
