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Photo Credit: subicnewslink.blogspot.com
The Bases Conversion and Development Authority (BCDA) Wednesday supported bills lodged with the Senate and House of Representatives seeking to update the powers and responsibilities of the Subic Bay Metropolitan Authority (SBMA) so that it could reach its full potential as economic trigger for Central Luzon and in the country as well.
One of the measures mandates the special economic and freeport zone to undertake reclamation works and to ‘’acquire, develop improve administer, deal, subdivide and lease reclaimed lands inside the zone and operate or administer such services as may be necessary for the efficient, economical and beneficial utilization of the reclaimed lands in the zone.’’
Another bill seeks the collection of five percent on gross income earned (GIE) shall be paid by all business enterprises within the Subic Special Economic Zone (SSEZ) in place of all other national and local taxes.
The BCDA, through Vivencio B. Dizon, President and Chief Executive Officer, supported the bills authored by Senator Paolo Benigno A. Aquino IV, and Speaker Gloria Macapagal Arroyo and 14 other House members.
These bills seek to amend Republic Act 7227, known as ‘’Bases Conversion and Development Act of 1992.’’
The bill stated that the five percent tax on gross income collected would be utilized to improve SBMA’s management of the zones.
The collected GIE shall be remitted as follows: Two percent to the national government; one percent to the SBMA and two percent for distribution to the local government units affected by the declaration of and contiguous to the zone, namely: the City of Olongapo and the municipalities of Subic, San Antonio, San Marcelino and Castillejos in Zambales province; and the municipalities of Morong, Hermosa and Dinalupihan in Bataan province on the basis of population (50 percent), land area (25 percent, and equal sharing (25 percent).
Dizon said that aside from amending the current RA 7227, particularly on the distribution of the 5 percent GIE, his office supports congressional passage of the bills because a strengthened SBMA would have its own law enforcement department and firefighting force, inspection and registration of leisure ships and pleasure yachts, operation and maintenance of utilities facilities such as telecommunications, shipping and maritime business, and airport operations, among others.
The bills also intend to give SBMA authority to issue Environmental Compliance Certificate for all non-environmentally critical activities in Subic Special Economic Zone.
Source: news.mb.com.ph
