SUBIC BAY FREEPORT — Eight neighboring local government units of this premier
freeport recently received their share of revenues from the Subic Bay
Metropolitan Authority amounting to ₱180.67 million.
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.
“I am optimistic that under the leadership of our new President Ferdinand
Marcos, Jr., our economy will improve and LGU shares will be bigger especially if
more investors will invest in Subic,” Paulino said.
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.
He said that this practice would also be beneficial to potential investors
who would want to make it happen in the Philippines when they invest in Subic
freeport.
During the turnover ceremony, Olongapo City Mayor Lenj Paulino received the
biggest at ₱42.02 million; Subic, Zambales municipal treasurer
Rosemarie Custodio received ₱24.62 million; Dinalupihan, Bataan Mayor Herman
Santos received ₱22.47 million; San Marcelino, Zambales municipal treasurer
Eleanor Damasco received ₱21.65 million; on behalf of Hermosa, Bataan mayor,
Atty. Anne Inton received ₱19.3 million; Castillejos, Zambales Mayor Jeff
Khonghun received ₱16.47 million; Morong, Bataan assistant municipal treasurer
Ma. Teresita Reyes received ₱15.95 million, and San Antonio, Zambales Mayor
Edzel Lonzanida received ₱5.37 million.
Meanwhile, SBMA deputy administrator for finance Antonietta Sanqui said that
the LGU shares are determined according to population (50%), land area (25%),
and equal sharing (25%).
“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,” she explained.
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.
