Local Government Units' Share in National Wealth: Revenue Allocation in the Philippines, Slides of Law

Download Local Government Units' Share in National Wealth: Revenue Allocation in the Philippines and more Slides Law in PDF only on Docsity! CHAPTER 2 SHARE OF LOCAL GOVERNMENT UNITS IN THE NATIONAL WEALTH France Rizzi Villaflor Christiana Vallespin SECTION 289. Share in the Proceeds from the Development and Utilization of the National Wealth Local government units shall have an equitable share in 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. (a) One percent (1%) of the gross sales or receipts of the preceding calendar year; or (b) Forty percent (40%) of the mining taxes, royalties, forestry and fishery charges and such other taxes, fees or charges, including related surcharges, interests, or fines the government agency or government -owned or - controlled corporation would have paid if it were not otherwise exempt. SECTION 292. Allocation of Shares The share in the preceding Section shall be distributed in the following manner: (a) Where the natural resources are located in the province (1) province - Twenty percent (20%); (2) Component city/municipality - Forty-five percent (45%); and (3) Barangay - Thirty-five percent (35%) Provided, however, That where the natural resources are located in two (2) or more provinces, or in two (2) or more component cities or municipalities or in two (2) or more Barangays, their respective shares shall be computed on the basis of: (1) Population - Seventy percent (70%); and (2) Land area - Thirty percent (30%).