Subic Bay Freeport – President Ferdinand Marcos Jr. hailed the Subic Bay Metropolitan Authority (SBMA) for remitting P820 million in dividends to the National Treasury during the Government-Owned and Controlled Corporations (GOCC) Day at Heroes Hall, Malacañang Palace, on 8 July 2026.

SBMA Chairman and Administrator Eduardo Jose Aliño received the citation from President Marcos himself, highlighting the agency’s unwavering commitment to contributing to national government revenues despite changes in taxation policies.

The SBMA’s remittance of P820 million is the highest in the “Millionaire’s Club” of GOCCs despite a decrease in the dividend remitted last year due to a significant rise in income tax payments.

According to the SBMA, this is due to the implementation of the Corporate Recovery and Tax Incentives for Enterprises (CREATE) Law, which mandates a 25 percent income tax rate on SBMA's taxable income, in contrast to the 5 percent rate applicable prior to 2024.

The SBMA stated that the higher tax rate led to a substantial increase in income tax expenses, with the agency 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, a lower dividend remittance.

Aliño said that 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.

The SBMA chief expressed confidence that, with continued reforms and strategic initiatives, the authority will sustain its robust financial health while supporting government objectives.

The CREATE Law updated how the Subic Bay Metropolitan Authority (SBMA) grants tax incentives. Registered businesses in Subic pay either a special 5 percent corporate tax or avail themselves of Enhanced Deductions. The CREATE MORE Act (Republic Act No. 12066) also reduces the corporate income tax and provides improved tax exemptions for locators.