Among the litany of gaffes and dubious “gains” presented by President BS Aquino as results of his
attempt to distract everyone from a galactic-scale scandal
attendance at the recent APEC forum was a
minor point whose irony likely has flown over most of the heads of typical
Pinoy news consumers:
Finance Secretary Cesar Purisima said the Philippines wanted to learn from the “best practices of Chile” in terms of taxing their mining industry.“Chile is the world’s largest exporter of copper and a few years ago they revised the scheme of taxation of their mining industry that is one that recognizes the volatility of mining prices. So this is one that we would like to study,” Purisima added.
Just to be clear, this means that several weeks after the issuance of an Executive Order spelling out a “mining policy”, an E.O. that took about 18 months to produce and which has as one of its main objectives the improvement and rationalization of government revenue from mining, the Administration has decided it would actually “like to study” the topic of mining taxes.