All posts by: Cielo Magno

Cielo Magno is the executive director of Bantay Kita, an organization that advocates transparency and accountability in the extractive industries. She is concurrent fellow of Action for Economic Reforms (www.aer.ph).


Rebuilding Trust in the Mining Industry

The mining industry has been hard at work to skew mining fiscal policy in its favor. It has been grumbling about its financial obligations ostensibly because raising taxes on mining makes the country less competitive. The truth is that as owners of the mineral resources, the Filipino people are only getting 2% of the gross value of our mineral resources. The industry would argue that they are paying more than the 2% excise tax, citing a recent study by the IMF that our average effective tax rate is about 60%. Read more