The Subic Bay Metropolitan Authority (SBMA) has turned over β±1.465 billion in dividends to the national government, reinforcing its role in supporting public programs without imposing additional tax burdens.
SBMA Chairperson and Administrator Eduardo Jose AliΓ±o handed the ceremonial check to Finance Secretary Ralph Recto in a turnover ceremony held at the Department of Finance (DOF) building.
According to AliΓ±o, the remittance includes β±798.3 million in net earnings from 2024 and β±667.2 million as the final installment of the 2022 dividends. This complies with Republic Act No. 7656, which requires government-owned and controlled corporations (GOCCs) to remit at least 50 percent of their annual net income to the National Treasury.
βThis amount reflects SBMAβs commitment to responsible fiscal management and to contributing to national development,β AliΓ±o said.
Finance Secretary Recto emphasized the significance of GOCC dividends in funding government services without raising taxes.
βThese contributions play a crucial role in sustaining public programs and investments in infrastructure, education, and health,β Recto noted. He also praised SBMAβs continued transformation from a former military base into a vibrant economic hub.
βI encourage SBMA to continue innovating and raising standards to attract more global investors and generate greater economic opportunities for Filipinos,β he added.
