Latest Stories

Mine revenue sharing plan opposed


The Mines and Geosciences Bureau (MGB) is at loggerheads with the Board of Investments (BOI) over the proposed revenue-sharing scheme for the mining industry.

In an interview, Environment Secretary Ramon Paje said a draft bill on revenue sharing prepared by the BOI, which is under the Department of Trade and Industry, would lower the government’s take.

“Whatever we submit to the President and the  Congress should be better than the existing scheme,” he added.

The BOI’s proposed mining revenue-sharing arrangement gives the government 10 percent of gross production value or 50 percent of gross income, whichever is higher.

In an Aug. 1 letter to Nestor P. Arcansalin, director of the BOI’s resource-based industries department, MGB director Leo L. Jasareno said the share was lower than the existing tax payments of mining contractors.

The MGB added that based on the BOI draft, the government’s take would even be lower than its existing share considering that the draft bill included all taxes and royalties but excluded real property tax.

“We are instead proposing to keep the present tax regime, but less the incentives plus 5 percent of the gross sale as royalty payment, applicable to both mineral and nonmineral reservation areas,” Jasareno wrote.

According to the MGB, the government take based on the current scheme is 14.4 percent of mining revenue.  Under MGB’s proposal, the government’s share would be 18.2 percent of the gross value while under the BOI draft, it would be lower at 10 percent.

Follow Us

Follow us on Facebook Follow on Twitter Follow on Twitter

Recent Stories:

Complete stories on our Digital Edition newsstand for tablets, netbooks and mobile phones; 14-issue free trial. About to step out? Get breaking alerts on your mobile.phone. Text ON INQ BREAKING to 4467, for Globe, Smart and Sun subscribers in the Philippines.

Tags: Board of Investments , Business , Mines and Geosciences Bureau , mining industry , revenue sharing scheme

  • asdafaa qwesda

    Contra ang MGB at Paje dyan kasi mas simple at transparent ang scheme na yan. Mahihirapan sila maghananap ng butas at magdemanda ng lagay kapag natuloy yan.

    Buwisit ka Paje.

Copyright © 2014, .
To subscribe to the Philippine Daily Inquirer newspaper in the Philippines, call +63 2 896-6000 for Metro Manila and Metro Cebu or email your subscription request here.
Factual errors? Contact the Philippine Daily Inquirer's day desk. Believe this article violates journalistic ethics? Contact the Inquirer's Reader's Advocate. Or write The Readers' Advocate:
c/o Philippine Daily Inquirer Chino Roces Avenue corner Yague and Mascardo Streets, Makati City, Metro Manila, Philippines Or fax nos. +63 2 8974793 to 94


  • Captain not at helm of capsized Korean ferry–probers
  • 4.9 quake jolts Batanes on Maundy Thursday
  • Presidents, celebrities mourn writer Garcia Marquez
  • MH370 search to be most costly ever at $100 million — analysts
  • Iraqi guilty of beating wife to death in US
  • Sports

  • Heat seek Three-peat but Spurs, Pacers top seeds
  • Can Spurs get back at Heat? Can they survive West?
  • Hopkins, 49, seeks win for the ageless
  • LeBron still No. 1 with NBA’s most popular jersey
  • Pacquiao back in PH, heads home to wife, kids
  • Lifestyle

  • Gabriel Garcia Marquez, Nobel laureate, dies at 87
  • Ford Mustang turns 50 atop Empire State Building
  • Pro visual artists, lensmen to judge Pagcor’s photo contest
  • ‘Labahita a la bacalao’
  • This is not just a farm
  • Entertainment

  • ‘X-men’ filmmaker slams ‘fabricated’ sex attack claims
  • Singer Chris Brown’s bodyguard on trial in DC
  • Whoopi Goldberg debuts as marijuana columnist
  • ‘X-men’ director accused of sex assault on teen boy
  • Cannes film festival launches race for 2014 Palme d’Or
  • Business

  • Italy sells luxury state cars on eBay
  • Asian shares mostly up in quiet trade
  • Dollar up in Asia on US jobs data, Ukraine deal
  • Barbie doll has a problem
  • Oil prices mixed ahead of long Easter weekend
  • Technology

  • Nokia recalls 30,000 chargers for Lumia 2520 tablet
  • Facebook rolls out ‘nearby friends’ feature
  • Netizens seethe over Aquino’s ‘sacrifice’ message
  • Filipinos #PrayForSouthKorea
  • Taylor Swift tries video blogging, crashes into fan’s bridal shower
  • Opinion

  • Editorial cartoon, April 17, 2014
  • A humbler Church
  • Deepest darkness
  • ‘Agnihotra’ for Earth’s health
  • It’s the Holy Week, time to think of others
  • Global Nation

  • Last call for nominations to ’14 Presidential Awards
  • San Francisco business coalition slams proposed tax on sugary drinks
  • A ‘time-travel’ production of ‘Les Miserable’ at Stanford
  • Filipina Maryknoll sister honored for years of service
  • Malaysia quarantines 64 villagers over MERS virus
  • Marketplace