The Department of Environment and Natural Resources Administrative Order 2010-21 ("IRR") supersedes A.O. 96-40 and operationalises the Philippine Mining Act of 1995. One of its objectives is to enhance the contribution of mineral resources to economic recovery with due regard to the protection of the environment and affected communities, as well as the development of local science and technical resources.
The IRR specifies the administrative and technical aspects of the law, such as the organisation and authority of the Mines and Geosciences Bureau, which was authorised to implement the act. It provides for the exact figures on royalty payments for programs and government share. For example: (1) at least 1.5% of all operating costs should be allotted to Development of Mining Community, Mining Technology and Geosciences, and Institutionalization of Public Awareness and Education on Mining and Geosciences; (2) a minimum of 3-5% of its direct mining and milling costs should be allocated for its annual environment-related expense; and (3) 5% of the market value of gross output should be paid to the government, which will be used for the exploration, development, and utilisation of mineral resources and other special projects. An annual report must be submitted regarding these.
The incentives of the Act were clarified, in that contractors may only avail of either the Income Tax Holiday under EO 226 or Income Tax-Carry Forward of Losses under the Act, and that Income Tax-Accelerated Depreciation may be availed simultaneously with the former.
- Public information
- Taxes, fees and charges
- Accelerated depreciation
- Value added tax
- Excise taxes
- Mandatory reporting
- Permitting processes
- Resource rights
- Environmental impact assessment
- Public disclosure requirements
- Rights, permits and licenses
- Investment tax incentives
- Resource extraction taxes and royalties
- Resource extraction incentives