DBM releases P234-M mining tax share to LGUs

By Jess Diaz
DBM releases P234-M mining tax share to LGUs

The Department of Budget and Management (DBM) has released the P234 million share of local government units (LGUs) from mining taxes.

“We have issued the allotment and corresponding cash allocation... the share of LGUs from the proceeds in the utilization and development of minerals in their respective areas,” Budget Secretary Florencio Abad said.

Abad said the funds were from the P1.5 billion appropriated for the purpose in this year’s national budget.

The Caraga region received the biggest share, amounting to P100.5 million. The region hosts several mining projects that produce gold, copper, chrome, nickel, iron and limestone.

Central Visayas got P29.2 million; Cagayan Valley, P27.3 million; Mimaropa (Mindoro, Marinduque, Romblon, Palawan), P22.2 million and the Cordillera Administrative Region, P21.7 million.

Abad said the funds have to be appropriated by the legislative assemblies of the LGUs before they could be used for projects, programs or activities in accordance with proper accounting and auditing procedures.