May 2, 2017: DENR requires miners to make EITI tax disclosures

May 2, 2017: DENR requires miners to make EITI tax disclosures
 

EITI requires firms involved in extractive industries to disclose their tax payments. The DENR made EITI compliance a condition of maintaining the validity of their environmental compliance certificates (ECCs), among other business permits.

The order was dated March 10 and uploaded on the Mines and Geosciences Bureau’s (MGB) Web site. Administrative Order No. 2017-07 was signed by Environment Secretary Regina Paz L. Lopez.

All mining firms under the agency’s jurisdiction must now take part in PH-EITI in accordance with the requirements set by the Philippines Multi-stakeholders Group “to ensure greater transparency and accountability in the extractive industries, specifically in the way the government collects and companies pay taxes from extractive industries.”

According to the new policy, mining firms that fail to comply with the disclosure requirements of the PH-EITI will have their ECCs suspended and will not be issued either ore transport permits or mineral export permits.

“The certificates and permits will remain canceled until the mining companies are able to comply with the PH-EITI requirements,” read the MGB statement posted on the bureau’s Web site.

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