SUBIC BAY FREEPORT — The Subic Bay Metropolitan Authority (SBMA) on Wednesday released a total of P147 million worth of checks to the municipalities and one city surrounding this Freeport.
Olongapo City received the biggest chunk of shares with a total of P34.3 million, while Subic, Zambales follows next with P22.44 million.
Next comes Dinalupihan, Bataan, with P18.31 million; San Marcelino, Zambales, P17.65 million; Hermosa, Bataan, P15.29 million; San Antonio, Zambales, P12.66 million; Morong, Bataan, P12.77 million; and Castillejos, Zambales, P13.66 million.
Town executives from Bataan LGUs led by Dinalupihan Mayor Gila Garcia personally received the checks from SBMA Chairman and Administrator Wilma Eisma.
Morong Mayor Cynthia Estanislao, Hermosa Administrator, Atty. Ariel Inton and Hermosa Treasurer Rhodora Legaspi Manalansan were also present along with Zambales and Olongapo executives
The LGU shares are derived from 2% of the 5% corporate taxes paid by Subic Bay Freeport-registered enterprises from this year’s first semester (January to June 2018).
The other 3% of the taxes paid are remitted directly to the national government through the Bureau of Internal Revenue (BIR).
The SBMA began releasing the shares directly to LGUs after a new tax collection scheme was implemented in August 2010 by the agency to ensure the prompt release of shares to the local communities.