Philippine Standard time

Taxation of Natural Resource-Based Industries (A Backgrounder)


The paper looks into the tax treatment of the natural resource-based industries (NRBIs) particularly the incentives granted them. It notes that while tax incentives enhanced the growth and development of specific industries under the cluster of NRBIs, these incentives cost the government millions in forgone revenues. It recommends that the government should focus more on the rehabilitation and preservation of natural resources rather than the grant of tax privileges to NRBIs.

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