SBMA remits P5.78B to gov’t

Clark Freeport, Pampanga , Philippines –  The Subic Bay Metropolitan Authority (SBMA) has remitted to the national government some P5.78 billion so far this year, with P4.81 billion coming from the Bureau of Customs (BoC) and P966.49 million from the Bureau of Internal Revenue (BIR).

This, even as the SBMA reported yesterday that Subic’s BoC and the BIR have reported  P760.14 million combined  collections as of last September , 14.34 percent   higher than their target of  P664.8 million.

The BoC’s collections totaled P677.18 million while that of the BIR amounted to P82.96 million.

In a report, the BIR here noted it slightly surpassed its September 2012 goal by 1.21 percent or P988,870.

It noted that in September last year, its collection amounted to only P72 million, although this already exceeded target for that year by 15.2 percent.

The local BIR also said it  surpassed its monthly collection goals in six out of the nine months of the first three quarters of this year.

Meanwhile, Subic BoC reported a collection increase of 16.19 percent over its September target, or a surplus of P94.35 million.

But the BoC noted that its P677.18-million collection this year  is short by 1.56 percent, or P10.73 million, compared to the P687.91-million collection in the same period last year.

In terms of collection targets, the BoC recorded its biggest deficit in July when its collection fell 46.75 percent short of its P604.13 million target. Its biggest surplus, on the other hand, was in August when its collection was 26.05 percent more than its P542.46-million target.

BoC data also showed that the Port of Subic was among the small ports in the country that posted surplus even when the BoC here fell short of its target in September.

The Subic  BoC  was noted to have topped the nationwide collection performance for two months in a row, posting the biggest surplus of P141.33 million in August and P94.35 million in September.