The Department of Budget and Management has released to local governments ((LGUs) P863.72 million which is 40 percent of the P2.158 billion collected in 2015 from the production of energy resources—petroleum, coal, geothermal, hydrothermal, and wind resources.
Local governments are entitled to receive from the national government 40 percent of the collection from energy resources production in 2015, the Department of Budget and Management (DBM) said on Tuesday.
The Local Government Code provides that in addition to the internal revenue allotment (IRA), local government shall also get an equitable share of the proceeds derived from the utilization and development of the national wealth within their respective areas, including sharing the same with the inhabitants by way of direct benefits.
The gross collection is derived by the national government from a variety of sources which include mining taxes, royalties, forestry and fishery charges besides such other taxes, fees, or charges, as well as related surcharges, interests, or fines, and from the national government’s share in any co-production, joint venture or production sharing agreement in the utilization and development of the national wealth within the jurisdiction of the LGUs.
Western Visayas received the largest share, which is P724.84 million, followed by Eastern Visayas (P49.21 million) and Central Visayas (P33.55 million), Region V (P20.71 million), Region IV-A (P18.83 million), Region XII (P6.91 million), Region I (P5.10 million), Region XIII (P1.65 million), Region XI (P1.63 million), Cordillera Administrative Region (P386,000), Region IX (P316,000), and Region X (P119,000).