DBM okays release of P335-M tax shares of BARMM | Inquirer News

DBM okays release of P335-M tax shares of BARMM

/ 09:07 PM November 10, 2022
The DBM approves the release of the BARMM's P335 million tax shares.

FILE PHOTO: The Bangsamoro Autonomous Region in Muslim Mindanao (BARMM) seat of government is located in Cotabato City. Photo by Bong Sarmiento

MANILA, Philippines — The Department of Budget and Management (DBM) said Thursday that it has approved the release of the Bangsamoro Autonomous Region in Muslim Mindanao’s (BARMM) P335 million share in collected taxes.

DBM Secretary Amenah Pangandaman said in a statement that the P335,815,961 BARMM tax shares can be used to fund regional development initiatives.

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“The release of funds means more development projects to be implemented for the people and government of BARMM. This is important in the exercise of their right to self-governance,” she noted.

Under the Bangsamoro Organic Law, BARMM shall receive a 75-percent share in the national government taxes, fees, and other charges collected within its territorial jurisdiction.

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The remaining 25 percent, on the other hand, will go to the national government.

But for the first 10 years following the law’s effectivity, the 25 percent share intended for the national government shall accrue to the BARMM government.

As the only Muslim member in the Cabinet of President Ferdinand Marcos Jr., Pangandaman said she is happy to “have the opportunity to champion programs for BARMM and Mindanao.”

“As mentioned, the DBM will continue to help BARMM, in every way we can, in their transition process,” she added. –Alyssa Joy Quevedo, trainee

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TAGS: BARMM, DBM, Tax
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