SUBIC BAY FREEPORT — The Subic Bay Metropolitan Authority (SBMA) distributed a total of ₱178.7 million in revenue shares to neighboring local government units (LGUs) on Wednesday, February 1.

The shares are derived from the five-percent corporate taxes paid by business locators in the Freeport, and are released to promote parallel development in neighboring communities and enhance LGU projects in tourism, infrastructure, education, peace and order, health, and livelihood generation.

SBMA Senior Deputy Administrator Ramon Agregado disclosed that SBMA revenue generation performance has improved in 2022 with more business projects in the pipeline.

“The higher the revenue, the higher the tax payments, and that will be good for the LGUs,” Agregado said.  

SBMA figures show that the second semester revenue shares increased from ₱140,602,568.18 in 2021 to ₱178,705,824.54 in 2022, or a growth of 27.1 percent. 

For the collection period of January to December 2022, the SBMA released a total of ₱319.3 million revenue shares, which is computed according to population (50%), land area (25%), and equal sharing (25%).

As such, the biggest LGU beneficiary for this period is Olongapo City, which received a total of ₱41,779,273.37. It is followed by Subic, Zambales with ₱26,842,905.77; Dinalupihan, Bataan, ₱22,257,027.69; San Marcelino, Zambales, ₱21,461,412.26; Hermosa, Bataan, ₱19,103,262.77; Castillejos, Zambales, ₱16,277,249.93; Morong, Bataan, ₱15,780,896.32; and San Antonio, Zambales, ₱15,203,796.43.

Revenue shares are released twice a year—in August for the first semester, and in February of the following year for second semester.

The mayors and their finance officials expressed gratitude for the revenue shares, especially since they received larger amounts for the first tranche this year.

“Castillejos, Zambales is a third-class municipality. A very small community and the revenue we generate is not enough. I am grateful to the SBMA for this revenue share, which is a big help for our finances, and more so because of the ₱4-million increase from last year,” Mayor Jeffrey Khonghun said.

“Our youth, our students in Dinalupihan, Bataan are thankful to the Freeport workers for their benefit from the tax they pay. We pray for good health for everyone so we can all serve our constituents,” Mayor Herman Santos, Jr. said. ~