Dr. Cielo Magno, UPSE faculty, was interviewed on ANC Early Edition on 8 June 2017.
Magno advocated the reform of taxes on the mining industry in the next set of tax reforms the government is due to propose:
I would push for the inclusion of taxes on mining in the next package of reforms that the Department of Finance will push,”
In addition to the universal application of the existing 2-percent duty on gross revenues and 5 percent royalties (the latter not even paid by all companies), she also proposed a windfall tax on mining:
When prices of minerals are really, really high, I think it’s important that the government gets a share of the huge profits that companies are getting…
The report, including a full video of the interview, can be found here.
