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Philippines Mining Fiscal Regime: H2 2014

Published: Dec-2014 | Format: PDF | Timetric | Number of pages: 19 | Code: MRS - 2027


Timetric’s Philippines' fiscal regime report outlines governing bodies, governing laws, mining permit and contracts, mining rights and obligations, and tax-related information on seven commodities: iron ore, coal, copper, zinc, gold, nickel and chromium.

Executive summary
The Philippines has a variety of mineral resources, including copper, nickel, cobalt, and gold. Deposits are categorized into metals and non-metals. The mining industry is governed by the Department of Environment and Natural Resources (DENR), and the Mines and Geosciences Bureau. The Philippine Mining Act of 1995 is the apex governing law for the country’s mining industry.


The report outlines the Philippines' governing bodies, governing laws, mining permits and contracts, mining rights and obligations and key fiscal terms which include royalty, excise tax, corporate income tax, capital gains tax, withholding tax, optional standard deductions, depreciation, loss carry forward and VAT.

Reasons to buy

    Gain an overview of the Philippines' mining fiscal regime.

Key highlights

The DOE is mandated by the Department of Energy Act of 1992 (RA 7638). It is responsible for coordinating, supervising and controlling all government plans, programs, projects and activities relative to the exploration, development, utilization, distribution and conservation of energy. 
The DENR is the main governing body for mineral resources in the Philippines. It is responsible for the management and development of the country’s natural resources and environment. Its other responsibilities are to formulate government policies, implement and supervise plans and programs related to the development of natural resources, and regulate the exploration, development and extraction of natural resources. 
The Environmental Management Bureau (EMB) was established as the supporting body for the DENR in 1987. In 2002, it became a line bureau with its own offices and The Land Management Bureau is a bureau under the DENR. It provides long- and medium-term strategic plans for the land sector, and monitoring and evaluation tools to ensure the achievement of goals. The bureau also develops survey standards and ensures compliance. 
The Mine Management Division operates the mineral rights management system, and processes and evaluates applications for mining rights. It also provides the government, mining contractors and the general public with technical assistance.

Table of Contents

1 Executive Summary 1

2 The Philippines' Mining Industry – Governing Bodies 7

2.1 Department of Energy (DOE) 7

2.2 Department of Environment and Natural Resources (DENR) 7

2.2.1 Environmental Management Bureau (EMB) 7

2.2.2 Land Management Bureau (LMB) 7

2.3 Mines and Geosciences Bureau (MGB) 7

2.3.1 Mine Management Division 7

2.3.2 Mining Environment and Safety Division 7

2.3.3 Mining Technology Division 7

2.3.4 Mining Tenement Management Division 8

2.3.5 Mineral Economics, Information and Publications Division 8

2.3.6 Land Geological Survey Division 8


3 The Philippines' Mining Industry – Governing Laws 9

3.1 Philippine Mining Act of 1995 9

3.2 Republic Act No. 7076 9

3.3 Philippine Environment Laws 9


4 The Philippines' Mining Industry – Mining Permits and Contracts 10

4.1 Exploration Permit 10

4.1.1 Duration 10

4.1.2 Area 10

4.2 Mineral Agreement 10

4.2.1 Mineral Production Sharing Agreement (MPSA) 10

4.2.2 Co-Production Agreement (CA) 11

4.2.3 Joint Venture Agreement (JVA) 11

4.2.4 Duration 11

4.2.5 Area 11

4.3 Financial or Technical Assistance Agreement (FTAA) 11

4.4 Mineral Processing Permit 12

4.4.1 Duration 12


5 The Philippines' Mining Industry – Mining Rights and Obligations 13

5.1 Rights 13

5.2 Obligations 13


6 The Philippines' Mining Industry – Key Fiscal Terms 14

6.1 Royalty 14

6.2 Excise Tax 14

6.3 Corporate Income Tax 14

6.4 Capital Gains Tax 14

6.5 Withholding Tax 14

6.5.1 Dividends 14

6.5.2 Interest 14

6.5.3 Royalties 14

6.6 Optional Standard Deductions 15

6.7 Depreciation 15

6.8 Loss Carry Forward 15

6.9 Value Added Tax (VAT) 15


7 Appendix 16

7.1 What is this Report About? 16

7.2 Methodology 16

7.3 Secondary Research 16

7.4 Primary Research 16

7.5 Contact Timetric 17

7.6 About Timetric 17

7.7 Timetric’s Services 18

7.8 Disclaimer 19

List of Tables
Table 1: The Mining Industry in the Philippines – Fiscal Regime Terms and Other Taxes 1
Table 2: The Mining Industry in the Philippines – Exploration Permit Areas (ha), 2014 10
Table 3: The Mining Industry in the Philippines – Mineral Agreement Areas (ha), 2014 11
Table 4: The Mining Industry in the Philippines – Ground Expenditure (PHP/ha), 2014 12

List of Figures

Figure 1: The Mining Industry in the Philippines – Commodity Mines at Different Stages (Number of Mines), 2014 2

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