Albay 2nd district Rep. Joey Salceda (Rep. Salceda's office)





The substitute bill to the proposed "Philippine Mining Fiscal Regime Act" has been approved by the Congressman Joey Salceda-chaired House Committee on Ways and Means. "With the committee approval of the fiscal regime for mining, the House Committee on Ways and Means completes all of its assignments from the President," said Salceda, Albay's 2nd district congressman. "We are proud of this accomplishment especially because we have more bills in the list than any other committee [in the 19th Congress]. Moving forward, we are preparing for the bicameral conference meetings when the Senate finishes its versions of these measures," he noted. The unnumbered substitute bill represents the consolidation of House Bill (HB) Nos 373, 2014, 2246, 3888, and 8050. Under the bill, large-scale metallic mining operations within mineral reservations would be subject to a royalty rate of three percent of the gross output, and a royalty rate equivalent to one-tenth of one percent for small-scale metallic operations. A margin-based royalty would be imposed on large-scale metallic mining operations outside mineral reservations. There would also be windfall profits tax to be imposed for each taxable year from the income of metallic mining operations. Chamber of Mines of the Philippines Executive Director Ronaldo Recidoro expressed support for the measure, which he said would help the country’s post-pandemic economic recovery and show the mining industry’s commitment as the government’s partner in nation-building. “It would give the government a fair and increased tax take from mining while ensuring the competitiveness, attractiveness, and sustainability of the country’s mining industry,” said Recidoro during the committing heating Wednesday, Aug. 2. Meanwhile, Salceda bared that he has begun working on presidential assignments for other bills. "The amendments to the audit code and procurement law have been assigned to my office, and we are already in talks with experts. The House is also committed to creating a sustainable and acceptable military and uniformed personnel (MUP) pension system," he said. Salceda was recently installed as chairman of the newly-formed Ad Hoc Committee on MUP Pension Reforms.