House bill proposal: Fiscal regime for mining industry

By: Jovee Marie de la Cruz

The chairman of the House Committee on Ways and Means on Wednesday filed a bill establishing a fiscal regime for the mining industry.

In House Bill 5022, Albay Rep. Joey S. Salceda said his proposal pushes for an equitable imposition of royalty on mining operations within and outside mineral reservations.

Under the proposal, a 3-percent royalty tax shall be imposed on large-scale mining operations within a mineral reservation.

The bill also said a margin-based royalty tax shall be imposed on large-scale mining operations outside mining reservation areas, ranging from 1 percent to 5 percent.

The bill said small-scale mining operations shall be exempt from the payment of royalty.

Currently, the law requires payment of royalty fees only in mining sites declared as mineral reservations.

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