The SGV Mining Team presents to the EITI Philippine Working Group

As requested by the Office of the National Coordinator for the implementation of the EITI (Extractive Industries Transparency Initiative) Standard in the country, the SGV Mining Team presented to the EITI multi-stakeholder group (MSG) the taxes and fees paid by the mining companies to the Philippine government and to its various agencies/units. The MSG comprises representatives from government, the mining and oil and gas industries and the civil society organizations.

The EITI is a global coalition of governments, companies and civil society working together to improve openness and accountable management of revenues from natural resources. It maintains
the EITI Standard with 25 Compliant countries at present. In July 2012, President Benigno Aquino III committed to implementing the EITI Standard. After establishing the MSG in January 2013, the Philippines submitted its Candidature Application to the EITI International Secretariat in April 2013. The EITI Board, during its Sydney meeting in May 2013, approved the Philippine application and declared the Philippines as one of 14 EITI Candidate countries.

Held in October 2013, the presentation aimed to make known to the MSG the types of taxes and fees including the rates, the relevant laws covering them and the government agencies/units assigned to collect them for the MSG’s consideration in coming up with the country’s EITI Standard implementation plan. Assurance partner and Natural Resource Development Industry Head Jimmy del Rosario discussed the objective of the presentation, which Tax partner Sonia Segovia tackled in detail. Also in attendance are Assurance partner Len Layug, Tax Advisory and Advocacy Group manager Atty. Vic de Dios and Tax Reporting and Operations Group manager Atty. Cherry Liez Rafal-Roble.