Olongapo SubicBay BatangGapo Newscenter

Sunday, October 29, 2006

Subic tax collection up 23 percent

SUBIC BAY FREEPORT — A total revenue collection of P3.3 billion have been turned over by the Subic Bay Metropolitan Authority (SBMA) to the national treasury from January to September this year.

The combined cash collection of the two collection agencies in the Subic Bay Freeport — the Bureau of Internal Revenue (BIR) and the Bureau of Customs (BoC) — increased by 23 percent compared to last year’s R2.7 billion.

"This year has been a bountiful one for the Subic Bay Freeport. In just nine months, we have already generated duties and tax revenues worth P3.3 billion for the national treasury," SBMA Chairman Feliciano G. Salonga said.

According to the revenue collection report submitted by Internal Revenue District Officer Edgar B. Tolentino to the SBMA’s top executives, the BIR posted a total of P837 million during the nine-month collection period.

Tolentino, in his report, stated that the overall increase in its revenue collection was pegged at 21 percent compared to P692 million from January to September last year.

Currently, registered enterprises in the Freeport during the same period totaled to 719 as of September 2006. Tolentino projected a higher increase rate when new projects start to operate.

Meanwhile, the BOC reported an increase of cash collection from January to September, which was pegged at 24 percent to P2.4 billion from last year’s P2 billion.

Priscilla Cordova, Deputy Collector for Assessment of the BOC, added that the revenue derived from payments of tariffs and duties in cash and non-cash collection transactions of the Port of Subic amounted to P4.6 billion
By JONAS REYES - Manila Bulletin


Post a Comment

<< Home


This is a joint private blog of volunteers from Subic Bay. It is being maintained primarily to collate articles that may be of importance to decision making related to the future of Subic Bay and as a source of reference material to construct the history of Subic Bay.

The articles herein posted remains the sole property of original authors and publications which has full credits to the articles.

Disclaimer: Readers should conduct their own research and due diligence before using any article herein posted for whatever intended purpose it may be. This private web log will not be liable for any loss or damage caused by a reader's reliance on information obtained from volunteers of this private blog.

www.subicbay.ph, http://olongapo-subic.com, http://sangunian.com, http://olongapo-ph.com, http://oictv.com, http://brgy-ph.com, http://subicbay-news.com, http://batanggapo.com 16 January 2012