MANILA, Philippines ---President Rodrigo Duterte has enacted a law exempting registered small-scale gold miners -- who would sell their gold to the Bangko Sentral ng Pilipinas (BSP) -- from paying income and excise taxes. Duterte signed Republic Act 11256 on March 29, but a copy of which was released to the media only on Wednesday. The new law also exempts registered small-scale miners who would sell gold to accredited traders for eventual sale to BSP from paying income and excise taxes. It said all gold sold to BSP by accredited traders shall be presumed to have been purchased from small-scale miners. Additionally, RA 11256 provides that those who already paid their ex...
Keep on reading: No more income, excise taxes on small-scale miners selling gold to BSP
from INQUIRER.net http://bit.ly/2HO1CJj
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