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The Congressional bicameral conference committee recently ratified the proposed rationalization of the country’s mining fiscal regime, which the Department of Finance expects to create a fair and equitable mining environment for all.
The said bicam committee report on the conflicting provisions of Senate Bill 2826 and House Bill 8937, or the Enhanced Fiscal Regime for Large-Scale Mining Act, was signed last June 11. It is one of the Legislative-Executive Development Advisory Council (LEDAC) priority measures for the 19th Congress and was supported by President Marcos.
It will be submitted for the President’s signature.
According to the DOF, the reform delivers a long-overdue update to the outdated tax structure governing the mining sector. It simplifies the fiscal system, guarantees the government’s fair share of revenues, strengthens environmental safeguards, and provides fiscal predictability and stability for investors, all while promoting responsible and sustainable mineral development.
It explained that under the current fiscal regime, the obligations of mining groups and companies vary depending on the mining agreement, resulting in a complex tax structure. It also imposes only royalties, which is government’s share from the extraction of the non-renewable resources, for mines operating within a mineral reservation.
With the proposed measure, the fiscal regime on mining will be simplified by removing the tax distinctions on mining agreements. It also introduces mechanisms to ensure that the government will get its fair share. More specifically, a margin-based royalty tax on mines operating outside mineral reservation and a windfall profits tax on all mines will be imposed, wherein the approved version adopts fewer tiers on the two new taxes for easier compliance and administration to discourage tax avoidance.
The bill also scrapped the controversial Senate provision that would have imposed a raw ore export ban.
The Chamber of Mines of the Philippines has endorsed the reconciled bill, with its chairman Atty. Michael Toledo saying that while a tax increase is inevitable, this progressive and responsive approach allows the government to benefit more when global commodity prices rise without placing undue burden on miners during market downturns.
The group views the bill as a step toward a more globally competitive and investor-friendly mining regime. In the case of the ore export ban removal, it said that this reflects a realistic understanding of Philippine mining’s operational and policy constraints, especially since the country’s infrastructure limitations and the unique characteristics of local ore deposits make raw ore processing less viable at present.
And with the entry of a new Environment and Natural Resources Secretary in the person of Raphael Lotilla, the chamber is hoping that he will continue the programs that his predecessor has begun in the DENR, including the reduction of the mining and exploration permitting process as well as other investment-friendly initiatives.
Savoy Hotel marks 7th
On June 28, Savoy Hotel Manila proudly marks a significant milestone: seven years of delivering heartfelt Filipino hospitality, meaningful guest experiences and award-winning service. Since opening its doors in 2018, the hotel has consistently offered travelers a unique blend of comfort, convenience and genuine Filipino warmth.
As part of the Megaworld Hotels and Resorts portfolio, Savoy Hotel Manila continues to elevate its guest offerings through innovation and authenticity – most notably with the full integration of the Sampaguita Service Brand, a cultural and sustainability-driven initiative launched in 2023.
According to general manager Den Navarro, as they continuously strive to enhance operations, they remain committed to delivering the heartfelt Filipino service and hospitality their guests truly deserve.
Navarro, who brings 27 years of hospitality experience including 17 years in key leadership roles across global destinations such as Dubai, Beijing, Bangkok and Phuket, said that Savoy Hotel Manila is more than just a hotel – it is a comforting stop where travelers find ease and convenience, whether they’re arriving from a long flight or preparing for an early or extended journey.
Over the years, Savoy Hotel Manila has earned both local and international recognition, including the prestigious Philippines’ Leading Airport Hotel by the World Travel Awards, and commendations from the UN Environment Program, Green Destinations Story Awards and the Department of Tourism. These accolades reflect the hotel’s strong commitment to sustainability, inclusivity, and operational excellence.
Guests have consistently praised the hotel for its value-for-money offerings, Muslim-friendly facilities, and thoughtful touches such as its sampaguita-inspired multi-sensory experience – from welcoming scents and music to wellness amenities and signature dishes.
Savoy Hotel Manila credits its success to its loyal guests, whose trust and patronage over the years have fueled the hotel’s growth. The management also extends its heartfelt appreciation to its dedicated team of associates – the heart of the house – who work tirelessly behind the scenes to ensure seamless and memorable guest stays.
As the hotel enters its eighth year, Savoy Hotel Manila remains committed to its purpose-driven approach: enriching guest experiences, uplifting Filipino culture, supporting sustainability and delivering excellence with heart.
Savoy Hotel Manila, a proud homegrown brand under Megaworld Hotels and Resorts – the Philippines’ largest hotel operator chain – exemplifies Filipino hospitality through its signature Sampaguita service. Ideally located just 350 meters from NAIA Terminal 3 and with seamless access to Terminals 1 and 2 via the Skyway, the hotel offers unparalleled convenience for travelers.
Nestled in the vibrant Newport City, guests are steps away from an array of restaurants, coffee shops, retail outlets, and entertainment venues. Its prime location ensures effortless connectivity to key business hubs like Makati and Bonifacio Global City, as well as recreational destinations such as Villamor Golf Club and Manila’s cultural landmarks.
Recognized as the Philippines’ leading airport hotel, Savoy Hotel Manila features 684 thoughtfully designed rooms, making it the perfect choice for both business and leisure travelers. Here, comfort meets vibrant experiences, ensuring a stay that’s as seamless as it is memorable.
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