EUNEY MARIE MATA-PEREZ
Senate Bill 1979 (in relation to House Bill 4800) proposes to impose a royalty tax on both metallic and non-metallic mining operations conducted outside mineral reservations, whether large scale or small scale, at three percent of the market value of the gross output of minerals or mineral products extracted or produced for the first three years from the effectivity of the law, four percenton the fourth year and five percent on the fifth year. It also proposes to impose an additional government share which will be due when the basic government share (on all collected taxes, royalties, fees and related payments from mining contractors) is less than 50 percent of the net mining revenue.