THE Department of Budget and Management (DBM) said the Bangsamoro Autonomous Region in Muslim Mindanao’s (BARMM) share of the government’s tax collections is P335.82 million.
“The release of funds means more development projects to be implemented for the people and government of BARMM. This is important in their exercise of their right to self-governance,” DBM Secretary Amenah F. Pangandaman said in a statement.
Under the Bangsamoro Organic Act (Republic Act No. 11054), the National Government gets a 25% share of taxes collected within the region while the BARMM is allocated 75%.
“This is also inclusive of the shares of the constituent local government units (LGUs), provided that for the first 10 years from the effectivity of the said law, the 25% share of the National Government shall accrue to the Bangsamoro Government,” the DBM noted.
Ms. Pangandaman has said that the DBM will push for more development programs in the BARMM to promote financial inclusivity.
“We (hope) that most of the people in our society will (someday) at least have a bank account or digital accounts,” she said.
“The DBM plays a major role in helping them (the BARMM) budgetary process because we want them to have their own government, so we’re helping them in whatever way we can in terms of capacity building,” she added.
Ms. Pangandaman said that the modernization of the budget system is one of the DBM’s major goals and planned reforms. — Luisa Maria Jacinta C. Jocson