What are the laws and regulations on trade in Philippines?

    Date:  2016-09-12Author:  ZENITH

Philippines is the world's major supplier of nickel. Philippines nickel ore exports not only to impose a 30% tariff, corporate profits tax.

Philippines main taxes, including income tax, mineral products consumption tax, land use fees, mining residues and waste fees, local taxes, customs duties, value-added tax, etc..

The current regulations of mining industry in Philippines are the "Philippines mining law" in 1995 and the relevant rules and regulations. The mining method to the people first, pro environment for the purpose, to the government and the private sector to promote the reasonable exploration, development, utilization and protection of mineral resources as the goal, to promote the participation of the management and cooperation, shared interests, pay attention to environmental and social security. "Philippines mining law" stipulates that all mining resources in Philippines belong to the state, any exploration, development, utilization and processing activities of mineral products are subject to government supervision and control. Mineral products consumption tax: the Contractor shall pay the consumption tax of mineral products in accordance with the domestic tax law. Usually based on the actual total output value of mineral products levied 2%.

philippines.jpg

In February 2013, the Philippine Ministry of environment and natural resources on the basis of a new mining law, greatly improving the relevant standard of mining fees. According to the new standard, the license fee to apply for mining rights from the land area of 60 per hectare of land to 300 of the increase in the amount of the bill, from each certificate shall not be less than 50 thousand to 200 thousand. Engaged in mining enterprises registered capital of not less than 10 million from the past to improve the to 100 million, the real capital from the past not less than 2 million 500 thousand to 6 million 250 thousand. Has been declared waiting for approval of enterprises also need to be handled by the new standards.


Related Links:


Previous: What is a limestone? | What type of rock is limestone and how is limestone formed?

Next: Crusher run stone | Quarry crusher can crushers

chat online