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Philippine plans to conduct new mining regulations to increase mining tax-2018 China(Guangzhou)Int¡¯l Non-Ferrous Metal£¨Copper£©Exhibition
7/27/2017 Copper exhibition -non-ferrous metals expo |
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The President of the Philippines said in Friday that the government would implement a new law for the country''s mineral industry. He thought the Philippine mining industry was taxed too little, which was not compensated enough for environmental damage.
However, the President said the current taxes were facing serious problems, including 30% of the general corporate income tax, 5% of the reserves rights and 2% of the concession tax.
The President also indicated that because the law allowed miners to keep running he could not stop them, but urging mining companies to make fair arrangements for everyone.
-2018 China(Guangzhou)Int¡¯l
Non-Ferrous
Metal£¨Copper£©Exhibition
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