Mining share of govt lower?

Rappler.com

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.

Read more on Rappler.

Add a comment

Sort by

There are no comments yet. Add your comment to start the conversation.