Subic Bay Freeport—Subic Bay Metropolitan Authority (SBMA) has released the ₱204.7-million in net revenue shares for the neighboring local government units (LGUs) of this premier Freeport.
The net share received by the eight contiguous localities is part of the five percent corporate taxes paid by Subic Bay Freeport-registered enterprises from January to June 2024.
Spearheading the distribution of LGU shares on behalf of the SBMA Chairman and Administrator was Senior Deputy Administrator for Support Services Atty. Ramon O. Agregado.
The revenue shares for this period is slightly higher than last year’s ₱203 million for the same period.
For shares generated during the first half of 2024, Olongapo City will receive a net share of ₱47.8 million; Subic, Zambales will receive ₱30.7 million; San Marcelino, ₱24.5 million; Castillejos, P18.6 million; and San Antonio, ₱17.4 million.
For Bataan, Dinalupihan will receive ₱25.5 million; Hermosa, ₱21.9 million; and Morong, ₱18.1 million.
Revenue shares are determined according to the following parameters – 50% population, 25% land area, and 25% equal sharing. This makes Olongapo City the frontrunner and top recipient of revenue shares due to its population.
According to the 2020 census, Olongapo pegged its population at 206,317, the biggest among the nearby communities of the SBF. It is also the highest in terms of population density with 1,407.12 resident per square kilometer with a total of 185 sq. km. land area.
Meanwhile, net shares are computed by adding the current base share to the ten per cent retention amount from two years prior, but less ten per cent retention amount from the current period.
Since August 2010, revenue shares were directly released to the LGUs on a bi-annual basis—August for the first semester, and then February the following year for the second semester.
