Mining share of govt lower?

The council, which is tasked to formulate a fair revenue-sharing arrangement between government and mining firms, may scrap the proposed unified tax collection scheme for the mining industry in a bill it drafted. This followed a concern raised by the Mines and Geosciences Bureau (MGB) regarding the proposal of the Mining Industry Coordinating Council (MICC) seeking a government share of 10% of gross production value of mining projects or 50% of gross income, whichever is higher. MGB Director Leo Jasareno wrote the Board of Investments, saying the tax scheme being eyed will result in lower government share in mining revenues.

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