8 LGUs get revenue shares from SBMA worth ₱180.67M

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Subic Bay Freeport— The Subic Bay Metropolitan Authority (SBMA) gives a total of P180.67 million revenue share for the local government units (LGUs) contiguous to the Subic Bay Freeport Zone.

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. 

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.

The LGU shares are broken down as follows: Municipality of Subic, Zambales received ₱27.62-million; Dinalupihan, Bataan received ₱22.47-million; San Marcelino, Zambales received ₱21.65-million; Hermosa, Bataan received ₱18.81- million; Castillejos, Zambales received ₱16.91-million; Morong, Bataan received ₱15.7-million; San Antonio, Zambales ₱15.48-million and  Olongapo City received the biggest share at  ₱42.02- million.  

The LGU shares are determined according to population (50 per cent), land area (25 per cent), and equal sharing (25 per cent).

SBMA Deputy Administrator for Finance Antonietta Sanqui said  “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.”

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.