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The Department of Environment and Natural Resources is crafting an executive order that will address conflicting policies on the mining industry’s fiscal regime while a law is being deliberated in Congress.At the sidelines of the Mining Policy Forum in Mandaluyong City on Thursday, organized by the Chamber of Mines of the Philippines, DENR Undersecretary for Integrated Sciences Carlos Primo David told reporters that a proposed EO will be presented to the President this month.
Under the current fiscal regime, mining companies pay 2% excise tax on minerals extracted outside mineral reserves, while those in mineral reserves pay an additional 5% royalty.For indigenous peoples communities hosting mining operations, mining companies also pay at least 1% of their gross output.On Wednesday, President Ferdinand Marcos Jr.
Mining Fiscal Regime For Mining Primo David DOF Ncip Rationalization Of The Mining Fiscal Regime
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