SUBIC BAY FREEPORT — Government corporations operating in three major special economic zones in Central Luzon remitted a total of P4.14 billion dividends this year, contributing 2.81 percent of the P147.15-billion non-tax revenue plowed back to the National Treasury by 50 government-owned or controlled corporations (GOCCs) for 2025.

Data from separate statements by top GOCCs in the region showed that Clark Development Corporation (CDC) declared dividends of P2.597 billion, or 62.73 percent of the total remittances from Region III.

The Subic Bay Metropolitan Authority (SBMA), which operates the Subic Special Economic and Freeport Zone (SSEFZ) under a separate charter, remitted P820 million, or 19.8 percent; while Clark International Airport Corporation (CIAC) contributed P585 million (14.13%).The Authority of the Freeport Area of Bataan (AFAB), on the other hand, declared dividends of P138.12 million (3.34%).

President Marcos recognized the GOCC contributions during the 2026 GOCC Day held at Malacañan Palace on July 8 and stressed that the foremost mandate of every GOCC is public service, not profit.

For 2026, total dividends amounted to P147.15 billion from 50 GOCCs, with actual dividend collection of P140 billion as of July 8, Malacañan announced. The balance will be remitted by December 2026, it added.

Under Republic Act No. 7656 enacted in November 1993, all GOCCs are required to declare and remit at least 50 percent of their annual earnings as cash, stock or property dividends to the national government. The law, however, exempts from the requirement GOCCs that administer real or personal properties or funds held in trust for the use and the benefit of its members.

Following the GOCC recognition, CDC President and CEO Agnes VST Devanadera attributed the agency’s strong financial performance to fiscal discipline and sound governance practices.

The consistent growth in dividends, Devanadera said, “reflects higher revenues, net income, jobs, locator activity, and investments during the period.”

CDC, which operates as a subsidiary of the Bases Conversion and Development Authority (BCDA) and operates both the Clark Freeport Zone (CFZ) and Clark Special Economic Zone (CSEZ), remitted P1.207 billion in 2022, P1.800 billion in 2023, P2.488 billion in 2024.

Meanwhile, the SBMA noted that its dividend payout this year “registered a substantial decrease” due to the implementation of the Corporate Recovery and Tax Incentives for Enterprises (CREATE) law. This mandated a 25 percent income tax rate on SBMA’s taxable income, in contrast to the 5 percent rate applied prior to 2024, the SBMA said.

“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 Subic GOCC said.

“The implementation of the CREATE Law also reclassified many SBMA expenses as allowable deductions, resulting in a decrease in taxable income and consequently (lower) dividend remittance,” it added.

The SBMA turned over P1.465 billion in dividends last year, which consisted of P798.27 million from its net earnings in 2024 and P667.21 million as final installment for its 2022 dividend obligations.

Nevertheless, 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.” (Taktikom News and Features)