The Philippine government is looking to impose to mining companies a royalty that amounts to 5 percent of a firm’s gross profits. The proposal has already been submitted to the government’s economic team for further study. The planned levy is in accordance with the country’s constitution and is practiced in other countries like Australia, Indonesia, and Mongolia, according to Department of Environment and Natural Resources (DENR) secretary Ramon Paje, who authored the said proposal. Read full story here.
URL: http://www.manilatimes.net/index.php/business-columns/34126-denr-seeks-royalty-from-mining-firms
Tags: Philippines
