MANILA – The House Committee on Ways and Means has approved a consolidated bill aimed at establishing a uniform and predictable fiscal regime for the mining sector. The proposed legislation seeks to harmonize the tax and non-tax contributions from mining operations, a move proponents believe will foster greater stability and investment in the industry.
Committee chairman and Albay Representative Joey Salceda announced the approval, emphasizing the bill’s objective of creating a more consistent financial environment for mining companies. Currently, the mining sector operates under a fragmented fiscal framework, which has led to uncertainties for both investors and the government.
The consolidated bill outlines new provisions for royalty rates, excise taxes, and other fees, intending to streamline the collection process and ensure a fair return for the government from the extraction of natural resources. Supporters of the bill argue that a clear and predictable fiscal regime will attract more foreign and local investments, ultimately boosting economic growth and generating employment opportunities in mining communities.
