Ang Pahayagan

The Authority of the Freeport Area of Bataan (AFAB) joined Bataan Baseco Joint Venture Inc. (BBJVI) during its formal turnover of 5% Gross Income Earned (GIE) shares to the National Government, AFAB, Provincial Government of Bataan, and the Municipality of Mariveles.

The turnover was held alongside BBJVI’s year-end report presentation led by BBJVI President and CEO Jopet Inton, where the company presented its accomplishments and future development plans for the communities of Barangay Baseco and Barangay Sisiman.

As one of the Freeport Area of Bataan’s valued registered enterprises, BBJVI remains committed to building sustainable and progressive communities through infrastructure and development projects within the FAB, generating opportunities for local residents.

Under Republic Act No. 9728, FAB Registered Enterprises are entitled to an incentive to pay a 5% tax on GIE in lieu of the regular 25% corporate income tax. The law provides that the 5% GIE shall be distributed as follows: 1% to the National Government, 2% to AFAB, 1% to the Provincial Government of Bataan, and 1% to the Municipality of Mariveles. (PR)