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- Source: http://www.mb.com.ph/articles/332372/cavite-gov-says-bonuses-assured
- Sunday, August 28, 2011
- by Jonas Reyes
SUBIC BAY FREEPORT — A city and some towns in Zambales and Bataan that are contiguous and affected by the Subic Bay Metropolitan Authority (SBMA) were given their share of P65.6 million worth of revenues for the first half of the year.
SBMA Administrator Armand C. Arreza said the collection of the shares for the local government units (LGUs) came from the new tax collection scheme that was implemented on August last year.
The tax collection scheme allows SBMA, aside from the Bureau of Internal Revenue (BIR) to directly collect two percent of the corporate tax paid by business firms inside this premier Freeport.
“This is the second time that we have facilitated the immediate release of revenue share to the adjacent LGUs,” Arreza noted.
- Source:http://www.pia.gov.ph/?m=1&t=1&id=51233
- Saturday, August 27, 2011
- by Allen M. Villa
IBA, Zambales, August 27 (PIA) -- Four towns in the province and several other local government units (LGUs) in Bataan and Olongapo City received a total of P65.6 million in revenue shares for the first semester from the Subic Bay Metropolitan Authority (SBMA), as the office hastens tax collection from business locators inside the Freeport. The SBMA Treasury Department reported that the town of Subic received P9.28 million, San Marcelino P7.87 million; San Antonio P5.77 million; and Castillejos, P5.41 million in revenue shares for a total of P28.33 million. Meanwhile, three towns in Bataan received almost P21 million shares in revenue with Dinalupihan collecting P8.19 million, Hermosa, P6.59 million, and Morong, P5.78 million. Olongapo City, on the other hand, received a total of P16.75 million for its revenue share. SBMA administrator and CEO Armand Arreza said the immediate release of the LGU share was made possible under the new tax collection scheme implemented since August 2010, which allowed the SBMA, instead of the Bureau of Internal Revenue (BIR), to directly collect two per cent of the corporate tax paid by business locators in this free port. Arreza said that under the new tax collection scheme, the SBMA would be releasing the LGU shares twice a year. The first release under the new scheme was made last February for LGU shares for the second semester of 2010. “This is the second time that we have facilitated the immediate release of revenue share to the adjacent LGUs,” Arreza noted. Arreza explained that the new tax collection scheme facilitated the release of shares to LGUs, which are classified as either “contiguous” or “affected” under Republic Act No. 7227, which created the Subic Bay Freeport and Special Economic Zone (SBFSEZ). The LGU share is derived from the five percent corporate taxes the SBMA collects from firms operating in the SBFSEZ. The administrator said that more than 500,000 residents of the seven adjacent municipalities and city benefit from these LGU shares. The LGU share is intended to help finance development projects, provide for basic support services in health, education, and peace and order, and other livelihood programs to improve living conditions, public health standards and the urban environment. “Through these shares, we hope to help the LGUs execute development projects in return for their contribution of manpower and other resources that help a lot in the success of the Subic Bay Freeport,” Arreza added. The LGU share is divided according to population (50 percent), land area (25 percent), and equal sharing (25 percent). SBMA records indicate that revenue share generated during the first semester of 2011 reached P72.92 million. The SBMA said that after releasing the P65.6 million, it would retain the remaining P9.29 million "to take care of any possible tax refunds.” The same amount would only be released to the LGUs after the prescriptive period of two years lapsed and upon audit of the BIR, it added. Arreza said that a total of P121.56 million in revenue shares have already been released to contiguous and affected LGUs since the implementation of the new collection scheme. The next release of LGU shares to cover the second semester of 2011 would be on February 1, 2012, Arreza added.(WLB/AMV-PIA 3/SBMA-PRD)