A big number of small-scale mining businesses being operated by unscrupulous persons, including some rich Chinese businessmen, are depriving the government of billions of pesos in revenues, according to a Quezon City congressman.
The Chamber of Mines of the Philippines (COMP) is challenging the government to first plug the tax leaks from small-scale miners before seeking higher share of mining revenue from large-scale miners.
Now, the mining industry—at least the organized sector of the industry, otherwise known as “large scale” mining—is also turning to Congress for help.
The government lost at least P2.42 billion in taxes over a two-year period due to small-scale miners who deliberately misstated their tax obligations, the Chamber of Mines of the Philippines (CoMP) said in a statement.
