The Subic Bay Metropolitan Authority (SBMA) has turned over to Local Government Units (LGUs) comprising the Subic Bay Freeport Zone their revenue shares received from the locators’ gross income.
In an earlier news release, the SBMA said LGUs contiguous to SBMA were to receive a total of P178 million revenue shares, including Olongapo City, with a net share worth ₱41.62 million; and the Zambales towns of Subic with ₱26.7 million, Castillejos (₱16.18 million), San Marcelino (₱21.37 million), and San Antonio (₱15.13 million).
In Bataan, Morong town was to get ₱15.73 million, Hermosa ₱19.06 million, and Dinalupihan ₱22.17 million.
According to the SBMA, the shares accounted for two percent of the five percent tax on gross income paid for by freeport locators for the period July to December 2023.
The other three percent of the taxes paid are remitted directly to the national government.
The LGU share is determined according to population (50 per cent), land area (25 per cent), and equal sharing (25 per cent). FREEPORT INSIDER
Mayor German M. Santos Jr. the cheque during the turnover of SBMA’s share to neighboring local government units
on February 16, 2024.
