Contiguous LGUs SBMA Shares reach Php 204.7-M for first half of 2024

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.
SBMA Chairman and Administrator Eduardo Jose L. Aliño said that 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.
“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.
Aliño also disclosed that 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; 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 10% retention amount from two years prior, but less 10% 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.