P2.217-B IN TAXES PAID BY LARGE MINING FIRMS IN 2022

May 27, 2023 Provincial

BAGUIO CITY

The Mines and Geosciences Bureau (MGB) reported that in 2022, a total of P2.217 billion of taxes, fees and royalties were paid by large mining companies operating in the Cordilleras. These large mining companies include Philex Mines, Benguet Corp., Lepanto Mines and Itogon-Suyoc Resources, Inc (ISRI). A total of P478.239 in excise tax were paid by the said large mining firms- with 60 percent goes to the national government as its share; while 40 percent to the local
government units (lgu).

At present, mining companies are liable for corporate income tax, excise tax, and real property tax.
A total of P159.710 million were utilized by the said large mining companies on its Social Development and Management Program (SDMP). The report was based on the presentation of MGB-CAR during Wednesday’s Kapihan on environment concerns and issues led by Ralph Pablo,
Regional Director of Department of Environment and Natural Resources-Cordillera (DENRCAR).

The press forum is a regular activity of Philippine Information Agency-Cordillera presented by Cordillera Association Regional Executive (CARE) in co-operation with Baguio Correspondents Club of Baguio (BCBC) and the Kapisanan ng mga Broadkaster ng Pilipinas (KBP). Other developments, on Environmental Protection/ Rehabilitation and Mining Forest Program, these
companies, some 2,239 Benguet Pine seedlings planted, covering 25.19 hectares (CY 2022).

To date, 13 Minahang Bayan (MB) approved while more than 100 applications are pending. Total employment posted at 6,291.Notably more women were hired and occupied middle management positions as earlier reported by the agency. Earlier, the agency reported that metallic mineral production (2022) total value at P14.2 billion, slightly up by four percent from P13.603 in the previous year.

Primo Agatep/ABN