From a reader:
SBMA is slapping a new tax on residents and investors based on land area, which means that one of the only profitable ventures on the base, the Ocean Adventure theme park and resort, will see a 400 percent rent increase! Less than halfway through their 50 year lease and millions invested and SBMA unilaterally hikes the rent by 400 percent. All the employment-generating investors, like factories and resorts, are large land users. The effect is that the investors who create the most jobs are the ones hit the hardest.
These are the kind of shortsighted policies that have made SBMA the bankruptcy that it is today.
From SBMA administrator Robert Garcia:
"If you want to live and operate here, you have to pay. If we make so much money, we could provide those services for free. But in this time of need, we need to help each other out. There should be no exceptions. I will try everything in my power to keep them here. But in the end, if they cannot keep up with my program, maybe they don’t have a place here in SBMA."
A failing special economic zone threatening the few investors it has..
A link to the complete article in the Inquirer can be found here.
They are saying that they get nothing out of the 5% tax collected for the BIR/Local barangays. What were they thinking when they set this up? How were they able to operate for 20 years under a setup of no incoming revenue for upkeep?
ReplyDeleteA simple solution would be to add another 1% in tax for the SBMA overhead that is applicable to the current 5% base. That way, the cost would be passed on to the consumer. It would still be half the current VAT (12%) that is applied outside the Economic zones.
Puting another tax wont work either if they have too many employees, why do they need over 3000 to run this base.
ReplyDeleteToo many family members on jobs for life!!!!!!!!
Why do we need to have our own police force? Bring in the PNP NBI
Why do we pay 400% more for our garbage than Olongapo City and dont get a free wheelie bin,Sub Contact it to Olongapo and sack the Sanitation Dept.
Yes lets select the street sweepers for dismisal what a joke.
Money lost in Foreign Currency Trading, What cant they find where the stolen money went.
Todays Paper 70,000 new jobs in Clark, They know how to run a business
Who could keep up with the administrators program
ReplyDeleteWho would want too????????????????
70000 new jobs in Clark and no natural advantages of Subic Bay
New building going up every where, expansion of existing business
Good roads,New roads!!!!!!!!!!!!!!!!!
Can anyone Tell me ONE piece of infrstructure the SBMA has actually built since they were given the Facilities here by the Americans. JUST ONE??????????????????????????????
Guess whose program we want to follow.
Only in the PI could they be given for free such an assett that they could completly stuff up
mr. idiot chairman, please have the grafters arrested and then i will pay your CUSA
ReplyDelete