• DoF pushes good governance for mining

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    International governance standards will be highlighted as the Finance department undertakes a nationwide roadshow of the Philippine Extractive Industries Transparency Initiative (PH-EITI) this month.

    The roadshow will be held in the cities of Baguio, Manila, Puerto Princesa, Davao, Cebu, and Butuan, covering about 70 local governments in 13 regions that host mining activities.

    The country’s implementation of EITI is currently being evaluated, with the process having started in January this year.

    Finance Assistant Secretary Ma. Teresa Habitan said the validation process would review the country’s progress and the resulting impact from implementing international transparency standards.

    The Philippines will host the 38th EITI International Board meeting on October 25 to 26 and the Finance department said the results of the country’s validation could be released then.

    Saving the environment and raising revenues from mining have been highlighted by the Duterte administration.

    The Finance department recently said the industry would be covered by tax reforms being planned by the government.

    Finance Undersecretary Bayani Agabin, a member of the multi-stakeholder Mining Industry Coordinating Council (MICC), has said that the council fully supports President Rodrigo Duterte’s call to review mining laws.

    “And in that regard, the MICC has several technical working groups that will undertake the review of the fiscal regime. In fact, we are looking at this to be part of one of the tax reform packages,” he said.

    During last month’s State of the Nation Address, Duterte warned miners to refrain from destroying watersheds, forests and aquatic resources. He also directed them to declare correct incomes or else the government would tax them to death.

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