• Host LGUs to lose P650M yearly from closure of mines


    THE closure or suspension of 28 mine sites across the country as ordered by the Department of Environment and Natural Resources (DENR) will cost the affected local government units (LGUs) in 10 provinces over P650 million yearly in foregone revenues.The Bureau of Local Government Finance (BLGF) said in a preliminary report to Finance Secretary Carlos Dominguez III that losses such as taxes, fees and other charges directly collected by the local governments from mining firms are estimated at P441.92 million, while the LGUs’ share from mining taxes collected by the national government account for another P211.72 million. “The total estimated potential revenue loss of the affected LGUs from all sources, based on 2015 data, amount to P653.64 million,” BLGF executive director Nino Alvina said, adding that the provinces that stand to be affected by the DENR order are Benguet, Nueva Vizcaya, Palawan, Cebu, Bulacan, Zambales, Eastern Samar, Dinagat Islands, Surigao Del Norte, and Surigao Del Sur.


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