HOUSE BILL NO. 6135: THE PROPOSED FISCAL MINING REGIME BILL

One of the economic measures being fast-tracked by Congress is House Bill No. 6135 or the Fiscal Mining Regime Bill. The objective of the bill is to rationalize and institutionalize a fiscal regime applicable to all mineral agreements. This would enhance the government’s equitable share in the utilization of natural resources without compromising the mining sector’s need for a reasonable return on investment. Tax Implication of the Fiscal Mining Regime Bill The proposed bill seeks to amend Sections 34 and 151 of the National Internal Revenue Code, as amended. By the proposed…

Continue Reading HOUSE BILL NO. 6135: THE PROPOSED FISCAL MINING REGIME BILL