President-elect Ferdinand Marcos Jr. expressed a preference for collecting value-added taxes from the exportation of partially processed ore instead of hiking mining taxes to generate more revenues. Read more👇
Marcos said as a matter of policy, the county’s natural resource should be viewed as “a treasure which could help the Philippines a great deal.”
As to proposals to increase mining taxes, Marcos said he will have to discuss it first with his economic team.“We are trying to address that with more value-added… What we are trying to achieve is to decrease the export of raw ore. We could export partially processed ore instead so there is value-added,” he said.
In a joint report this month by the economic team of outgoing President Rodrigo Duterte, the officials pushed for the revival of the mining industry to generate more revenues and jobs. “We have a lot of natural resources in the Philippines. We should, especially in these difficult times, take advantage of that. However, we have seen some of the disasters that have happened when it comes to mining, we need to really avoid those,” he said during the campaign period.
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