MANILA – A House of Representatives panel on Tuesday approved a measure that would revitalize and strengthen bases conversion and development to further improve the government’s revenue collection and promote the country’s economic growth.
The House Special Committee on Bases Conversion, chaired by Pampanga Rep. Aurelio Gonzales Jr., approved an unnumbered substitute bill consolidating House Bills 138, 63, 2876, 4473, and 8669.
The bill would amend certain sections of Republic Act 7227 or the Bases Conversion and Development Act of 1992.
Bataan Rep. Geraldine Roman, the panel’s vice chair, said the proposed amendments to RA 7227 seek to update and empower the Subic Bay Metropolitan Authority (SBMA).
Under HB 138 authored by Roman, the proposal introduces reallocation formulas on the sharing received by the provinces of Bataan and Pampanga from the 2 percent tax on gross income from all business enterprises within the freeport zone.
It also proposes additional seats for local government units and Indigenous Peoples in the SBMA Board of Directors.
Meanwhile, Tarlac Rep. Victor Yap, author of HB 63, said the revisions aim for a more equitable distribution of the allocation between the local government units.
HB 63 proposes a 5 percent tax on gross income from all registered business enterprises within the Clark Freeport Zone (CFZ).
The 3 percent of this would go to the national government but 1 percent would now go to the treasurer’s office of the municipality or city, and the remaining 1 percent would go to the treasurer’s office of the province where they are located. (PNA)