Philippine President Marcos Jr. calls for passage of a fair mining law with tiered royalties, awaiting Senate action amid environmental concerns.
Philippine President Ferdinand Marcos Jr. has called for the passage of the Rationalization of the Mining Fiscal Regime to create a fair mining environment and enhance government revenues. The bill proposes a tiered royalty system of 1.5% to 5% on mining income outside mineral reservations. While the House approved the bill, it awaits Senate action. Environmental concerns persist regarding the adequacy of the proposed taxes relative to mining's ecological impact.
October 16, 2024
6 Articles