Philippines Issues Rules for Implementing Mining Tax Law

The Philippines has issued the implementing rules and regulations of a new law that’s aimed at boosting state revenue from large mining operations and seen to boost investment into the sector, according to the Department of Finance.

• “This is a critical step forward in unlocking the full economic potential of the mining sector while maintaining safeguards for transparency, accountability, and protection of the environment,” Finance Secretary Frederick Go says in a statement
• DOF expects to generate an average of 6.3b pesos in additional annual revenues from existing mining projects, with even greater gains expected as new investments come in: statement ...