AngMinero
  • Home
  • News
  • Features
  • Business
No Result
View All Result
AngMinero
  • Home
  • News
  • Features
  • Business
No Result
View All Result
AngMinero
No Result
View All Result
Home News

Marcos Jr. may add VAT on partially-processed ore

AngMinero News by AngMinero News
June 21, 2022
in News
28 0
0
Marcos Jr. may add VAT on partially-processed ore
84
SHARES
1.4k
VIEWS
Share on FacebookShare on Twitter

President-elect Ferdinand “Bongbong” Marcos Jr. is considering adding value-added tax (VAT) on exports of partially processed ore instead of imposing an increase in mining tax.

In a press briefing, Marcos Jr. said that instead of exporting raw ore, the partially-processed ore will be exported “so that there may be VAT that’s left in the Philippines.”

This is in response when asked if the upcoming administration would pursue increasing ming taxes. Marcos Jr., however, said that they have yet to decide on the fiscal measures needed.

The president-elect is also pushing for “clean mining” in the country, saying that he is in disbelief that the Philippines cannot monitor and regulate the mining industry sufficiently.

Over a week ago, the National Economic and Development Authority (NEDA) said that only four out of the 45 mining firms it reviewed received excellent remarks, while the rest needed major or minor reforms in terms of socio-economic development and environmental protection.

Marcos Jr. said the government has to ensure that the mining practices in the country are “environmentally neutral.”

During the campaign period, Marcos Jr. said that mining is a “valuable source of revenue for the government.” He, however, expressed concerns about open-pit mining as it is “very difficult to control.”

In December 2021, the government lifted its four-year ban on open-pit mining amid efforts on economic recovery following the COVID-19 pandemic and the onslaught of Typhoon Odette.

 

(Photo from the Philippine News Agency)

Tags: Ferdinand Marcos Jr.Mining taxorevalue-added taxVAT

Related Posts

FNI legal team earns top honors at 2025 ALB Philippine Law Awards
News

FNI legal team earns top honors at 2025 ALB Philippine Law Awards

October 16, 2025
Apex Mining resumes full operations after Davao earthquake suspension
News

Apex Mining resumes full operations after Davao earthquake suspension

October 15, 2025
Davao de Oro halts all mining after 7.4 quake to ensure worker safety
News

Davao de Oro halts all mining after 7.4 quake to ensure worker safety

October 13, 2025
Mining sector pools PHP 3.5M in aid for Masbate after Typhoon Opong
News

Mining sector pools PHP 3.5M in aid for Masbate after Typhoon Opong

October 13, 2025
Apex Mining suspends Davao de Oro operations after 7.4 magnitude quake
News

Apex Mining suspends Davao de Oro operations after 7.4 magnitude quake

October 13, 2025
Hallmark Mining Corp. vows to protect Mt. Hamiguitan, jobs
News

Hallmark Mining Corp. vows to protect Mt. Hamiguitan, jobs

October 9, 2025

FEATURED POST

FNI legal team earns top honors at 2025 ALB Philippine Law Awards

FNI legal team earns top honors at 2025 ALB Philippine Law Awards

October 16, 2025
Apex Mining resumes full operations after Davao earthquake suspension

Apex Mining resumes full operations after Davao earthquake suspension

October 15, 2025
Davao de Oro halts all mining after 7.4 quake to ensure worker safety

Davao de Oro halts all mining after 7.4 quake to ensure worker safety

October 13, 2025
Mining sector pools PHP 3.5M in aid for Masbate after Typhoon Opong

Mining sector pools PHP 3.5M in aid for Masbate after Typhoon Opong

October 13, 2025

EDITOR PICK'S

FNI legal team earns top honors at 2025 ALB Philippine Law Awards

October 16, 2025

Apex Mining resumes full operations after Davao earthquake suspension

October 15, 2025

Davao de Oro halts all mining after 7.4 quake to ensure worker safety

October 13, 2025

Mining sector pools PHP 3.5M in aid for Masbate after Typhoon Opong

October 13, 2025

Apex Mining suspends Davao de Oro operations after 7.4 magnitude quake

October 13, 2025

Hallmark Mining Corp. vows to protect Mt. Hamiguitan, jobs

October 9, 2025

Pure Energy Group firms acquire 71.68% stake in Coal Asia for PHP220.9 million

October 7, 2025

Recent News

FNI legal team earns top honors at 2025 ALB Philippine Law Awards

FNI legal team earns top honors at 2025 ALB Philippine Law Awards

October 16, 2025
Apex Mining resumes full operations after Davao earthquake suspension

Apex Mining resumes full operations after Davao earthquake suspension

October 15, 2025

Category

  • Business
  • Features
  • News
  • Uncategorized

Follow us

  • Setup menu at Appearance » Menus and assign menu to Footer Navigation

© 2025 JNews - Premium WordPress news & magazine theme by Jegtheme.

No Result
View All Result

© 2025 JNews - Premium WordPress news & magazine theme by Jegtheme.

Login to your account below

Forgotten Password?

Fill the forms bellow to register

All fields are required. Log In

Retrieve your password

Please enter your username or email address to reset your password.

Log In