Lawmakers to back Aquino call for hefty tax on mining firms – Belmonte

MANILA, Philippines — Following President Benigno Aquino III’s approval of the new mining policy which has drawn mixed reactions, Speaker Feliciano Belmonte Jr. on Tuesday said that the House of Representatives would tackle measures that will allow the government to get a bigger share of  revenues from the mining industry.

He said that lawmakers would be supportive and will work to pass laws in support of Malacanang’s call for higher excise tax on mining firms.

Belmonte said that they would discuss the two percent that the government is looking to hike excise tax from the present 5 percent in order to raise gross revenues from mining operations before the midterm polls.

Executive Order 79 was approved on Monday, drawing mixed views from politicians and the public.

While some said that the new policy struck a fair compromise between protecting the environment and the interests of mining firms, others saw the mining EO as incapable of protecting the environment when mining operations are in full swing.