Olongapo City gets biggest share of P65 million Freeport revenue share

Local government around the Subic Bay Freeport zone received revenue shares amounting to P65 million with Olongapo City getting the lion's share of around P16.75 million.

This upped the total revenue share given by the Freeport authority to around P121.56 million.

In a statement, the Subic Bay Metropolitan Authority (SBMA) said that this was the second time this year that LGUs received revenue shares from the Freeport.

"Through these shares, we hope to help the LGUs execute development projects in return for their contribution of manpower and other resources that help the success of Subic Bay Freeport," SBMA adminsitrator Arman Arreza was quoted in a press statement said.

SBMA’s records showed that Olongapo City got P16.75 million; Subic, Zambales, P9.28 million; Dinalupihan, Bataan, P8.19 million; San Marcelino, Zambales, P7.87 million; Hermosa, Bataan, P6.59 million; Morong, Bataan, P5.78 million; San Antonio, Zambales, P5.77 million; and Castillejos, Zambales, P5.41 million.

The LGU share is derived from the 5% corporate tax that SBMA collects from locators.(30)