10 months Senate okays bill increasing PH gold reserves MB
By Hannah Torregoza The Senate has approved on third and final reading the bill seeking to exempt small-scale miners from paying income and excise tax when they sell their gold to the Bangko Sentral ng Pilipinas (BSP). Senator Juan Edgardo “Sonny” Angara(Sonny Angara Facebook page / MANILA BULLETIN) Senator Juan Edgardo “Sonny” Angara, author and sponsor of Senate Bill No. 2127, otherwise known as the Act to Strengthen the Country’s Gross Internal Reserves (GIR), said the proposed measure sought to amend a requirement from the Bureau of Internal Revenue (BIR) which imposed five percent withholding taxes and two percent ... more