The Subic Bay Metropolitan Authority (SBMA) turned over a total dividend of P820 million during the recently held Government-Owned and Controlled Corporations (GOCC) Day at Heroes Hall, Malacañang Palace.
This milestone highlights the SBMA’s unwavering commitment to contributing to national government revenues despite changes in taxation policies.
The higher tax rate led to a substantial increase in income tax expense, with SBMA paying P489 million in income tax for 2025, up from P130 million in 2023.
While the dividend remittance of the SBMA registered a substantial decrease compared to previous years, the agency noted a significant rise in income tax payments.
This development stems from the implementation of the Corporate Recovery and Tax Incentives for Enterprises (CREATE) law, which mandates a 25% income tax rate on SBMA’s taxable income, in contrast to the 5% rate applicable prior to 2024.
The higher tax rate led to a substantial increase in income tax expense, with SBMA paying P489 million in income tax for 2025, up from P130 million in 2023.
The implementation of the CREATE law also reclassified many SBMA expenses as allowable deductions, resulting in a decrease in taxable income and consequently the dividend remittance.
Despite the lower dividend payments, the SBMA remains a vital contributor to the government’s fiscal capacity, with total remittances (income tax and dividends combined) amounting to P1.31 billion in 2025, maintaining its role as a dynamic agency in national development.
SBMA Chairman and Administrator Eduardo Jose L. Aliño expressed confidence that with continued reforms and strategic initiatives, the authority will sustain its robust financial health while supporting government objectives.
