By HENRY EMPEÑO

SUBIC BAY FREEPORT — The Subic Bay Metropolitan Authority (SBMA) has issued revenue shares to neighboring local government units (LGUs) in the amount of P203 million, reflecting growing corporate taxes paid by Subic-registered investors that reached P207.65 million in the first half of this year.

SBMA Chairman and Administrator Jonathan D. Tan formally turned over the revenue shares to officials of the eight LGUs contiguous to and affected by the operations of the Subic Freeport last Saturday at the Travelers Hotel here.

The biggest share went to Olongapo City at P47.46 million, followed by Subic, Zambales at P30.5 million; Dinalupihan, Bataan at P25.28 million; San Marcelino, Zambales, P24.38 million; Hermosa, Bataan, P21.7 million; Castillejos, Zambales, P18.5 million; San Antonio, Zambales, P17.27 million; and Morong, Bataan with P17.9 million.

LGU shares are derived from 2% of the 5% corporate taxes paid by Subic Bay Freeport-registered enterprises in the previous semester and are meant to supplement development projects in health, education, peace and order, and livelihood generation of local communities.

SBMA records indicated a growing trend in LGU shares, with bigger shares released in the second half of the year. Thus, SBMA gave away P123.1 million in January 2021 and P166.16 million in August that year; P140 million in January 2022 and P180.67 million in July 2022; and P178.7 million in February 2023 before the P203 million doled out this August.

The LGU shares are determined according to population (50 per cent), land area (25 per cent), and equal sharing (25 per cent), and are then released regularly in August, for taxes collected in the first semester, and February the following year for second semester earnings.

In the same occasion, Tan briefed LGU officials of the projects his administration intended to deliver in the next few years based on his Jobs, Development and Tourism (JDT) program.

“These development projects will surely add value to the agency’ as it makes an effort to attract more investments; and with more investments, more jobs will be created not only for the residents of the neighboring towns of Subic, but also for the residents of neighboring provinces,” Tan said. 

The SBMA chief also asked its neighbor LGUs for their help and cooperation in promoting Subic to prospective investors.

“The more investments we get, the more jobs we create. The more revenues we generate, the more shares the LGUs get,” he added. 

Those present in the LGU shares distribution ceremony were mayors Rolen Paulino, Jr. of Olongapo City; Jon Khonghun, Subic; Elmer Soria, San Marcelino; Edzel Lonzanida, San Antonio; German Santos, Jr., Dinalupihan; Joseph Inton, Hermosa; and Cynthia Estanislao, Morong. A representative took the place of Castillejos mayor Jeffrey Khonghun. 