This meant an increase of P225 million in revenues remitted to the National Treasury in the first semester compared with the P3.48 billion posted last year.
Subic Bay Metropolitan Authority (SBMA) administrator Armand Arreza said the revenue hike only meant that the SBMA has sustained growth both in terms of investments and work force despite the threat of another global financial crisis.
Figures submitted to the SBMA indicated that the Subic offices of both the BOC and the BIR contributed to the increase despite failing to meet collection goals in the first semester.
The Subic revenue district said its cash collections reached P3.12 billion in the first semester, surpassing last year’s January-June tally of P2.51 billion by 24.33 percent or a difference of P611 million.
In June alone, BoC-Subic collected a total of P661.48 million, the highest in the six-month period, while its April tally totaled P623.02 million.
Customs collections here are taken from duties and taxes for ship calls, transshipment operations, and the importation of various inputs, including oil, motor vehicles, and other general merchandise.
The Subic BOC, however, said that its actual collections was 5.22 percent short of its target of P3.29 billion in the first six months. However, it recorded noncash collections of P299.82 million from government-to-government transactions.
The Subic BIR office, meanwhile, reported cash collections totaling P587.75 million in January-June this year, an amount translating to a surplus of P79.32 million, or 15.6 percent over its collection goal of P508.43 million.
However, the Subic BIR office disclosed that actual collections decreased by 39.64 percent or P385.98 million when compared to the January-June 2010 record of P973.72 million.
The reported figure did not include the P65.6 million that the SBMA directly collected from the corporate taxes paid by business locators in the Subic Bay Freeport. This represented the 2-percent share released to local government units (LGUs) that are either contiguous to or affected by the freeport, as provided for under Republic Act 7227.
