By Butch Gunio
The Subic Bay Metropolitan Authority (SBMA) has released ₱204.7-million in net revenue shares of certain local government units (LGUs) in Bataan and Zambales provinces as mandated by law.
SBMA chairman and administrator Eduardo Jose Aliño said the funds were received by the eight contiguous localities as part of the five-percent corporate taxes paid by Subic Bay Freeport-registered enterprises from January to June 2024.
“We are hoping that these revenue shares will augment their funds for development projects in health, education, peace and order, and livelihood generation,” Aliño said.
He also disclosed that the revenue shares of the LGUs during the first semester of the year were slightly higher than last year’s ₱203 million for the same period.
For shares generated during the first half of 2024, Olongapo City’s share amounted to ₱47.8 million; Subic will have ₱30.7 million; San Marcelino, ₱24.5 million; and San Antonio, ₱17.4 million
For Bataan province, Dinalupihan will get ₱25.5 million; Hermosa, ₱21.9 million; and Morong, ₱18.1 million.
Revenue shares are determined based on the following criteria; population at 50 percent, land area, 25 percent, and equal sharing, 25 percent.
This puts Olongapo on top of the list with the biggest share of the pie on account of its population.
According to the 2020 census, Olongapo had 206,317 constituents, the biggest among the contiguous communities of the freeport. It was also the highest in terms of population density with 1,407.12 residents per square kilometer with a total of 185 sq. km. land area.
Net shares are computed by adding the current base share to the 10-percent retention amount from two years prior, but less 10-percent retention amount from the current period.
The direct release of the revenue shares to LGUs started in August 2010 for shares from the first semester, and then in February the following year, for the second semester.
