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March 21, 2024

Tax regime for mining industry: Senate President Pro-Tempore Loren Legarda asks officials of the Mines and Geosciences Bureau and the Department of Finance to submit to the Committee on Ways and Means their data on the Minahang Bayan and small-scale mining operations to ascertain where they pay taxes, whether to the national or local government units. “Are we certain it will not be affected under this proposed measure to revise or amend the existing tax regime on mining? How do we define Minahang Bayan in this proposed or revised measure,” Legarda asked Thursday, March 21, 2024 during a public hearing on House Bill No. 8937 otherwise known as Enhancing the Fiscal Regime for the Mining Industry (Amending Republic Act No. 8424). Minahang Bayan refers to a cooperative while small scale mining refers to individual miners. (Bibo Nueva España/Senate PRIB)

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