CLARK FREEPORT--The Subic Bay Metropolitan Authority (SBMA) has turned over revenue shares for localities or local government units (LGUs) around Subic Freeport worth P203 million.
SBMA Chairman and Administrator Jonathan D. Tan turned over the amount to the mayors of the eight LGUs adjacent to Subic Freeport.
The LGU shares were derived from the 2 percent of the 5 percent corporate taxes paid by Subic Bay Freeport-registered enterprises from January to June 2023, which amounted to P207.65 .
Tan asked the LGUs for their help and cooperation in promoting Subic Bay Freeport to prospective investors.
For the province of Zambales, Olongapo City mayor Rolen Paulino, Jr. received the highest share in the amount of P47.46 million.
Subic mayor Jon Khonghun received P30.5 million; a representative of Castillejos mayor Jeff Khonghun received P18.5 million; San Marcelino mayor Elmer Soria received P24.38 million; and San Antonio mayor Edzel Lonzanida received P17.27 million.
Meanwhi
For the province of Bataan, Dinalupihan mayor German Santos, Jr. received P25.28 million; Hermosa mayor Joseph Inton received P21.7 million; and last but not the least, Morong mayor Cynthia Estanislao received P17.9 million.
The P207.65-million revenue share covers the first semester of 2023, with P16.14 million retention from the first semester 2021 collection, less P20.76 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.
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 percent), land area (25 percent), and equal sharing (25 percent), which are then released periodically in August, for the first semester, and February the following year, for the second semester.