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


  • Camilla’s brother dies in US after head injury
  • Luisita farmers storm DAR compound
  • Trillanes, Ejercito confident they are not in Napoles’ list
  • Easterlies to prevail in Luzon, Visayas
  • Lacson eyes P106-B ‘Yolanda’ rehab masterplan
  • Sports

  • Mixers trim Aces; Painters repulse Bolts
  • Donaire junks Garcia as coach, taps father
  • ’Bye Ginebra: No heavy heart this time
  • UAAP board tackles new rules
  • Baguio climb to decide Le Tour de Filipinas
  • Lifestyle

  • Photos explore dynamics of youths’ sexual identity
  • 12th Philippine Food Expo set at the World Trade Center
  • No tourist draw, Malang the croc will remain wild
  • The best flavors of summer in one bite, and more
  • Homemade yogurt, bread blended with pizza, even ramen
  • Entertainment

  • Sony developing live-action Barbie comedy
  • California court won’t review Jackson doctor case
  • Return of ‘Ibong Adarna’
  • Practical Phytos plans his future
  • In love … with acting
  • Business

  • Facebook profits triple as mobile soars
  • Insular Honors Sales Performers at Testimonial Rites
  • Apple increases stock buyback, will split stock
  • Cost-recovery provisions for affected gencos urged
  • This time, BIR goes after florists
  • Technology

  • Top Traits of Digital Marketers
  • No truth to viral no-visa ‘chronicles’
  • ‘Unlimited’ Internet promos not really limitless; lawmakers call for probe
  • Viber releases new design for iPhone, comes to Blackberry 10 for the first time
  • Engineers create a world of difference
  • Opinion

  • Editorial cartoon, April 24, 2014
  • Talking to Janet
  • Respite
  • Bucket list
  • JPII in 1981: walking a tightrope
  • Global Nation

  • Filipinos in Middle East urged to get clearance before returning
  • PH seeks ‘clearer assurance’ from US
  • China and rivals sign naval pact to ease maritime tensions
  • What Went Before: Manila bus hostage crisis
  • Obama arrives in Tokyo, first stop of 4-nation tour
  • Marketplace