{ "schema_version": "1.1.0", "report_id": "cr-2012-219", "source_sha256": "af9698ad40d347b983fe050e4dfbbd4a0457091e78a2af85841cdb19a2f56c23", "title": "Philippines: Reform of the Fiscal Regimes for Mining and Petroleum", "language": [ "English" ], "authors": [ { "name": "International Monetary Fund", "role": "indexed_institutional_author", "evidence": [ { "source": "imf_index_metadata" } ], "confidence": 1.0 } ], "countries": [ { "name": "Philippines", "formal_name": "Philippines", "iso3": "PHL", "evidence": [ { "source": "imf_index_metadata" } ], "confidence": 1.0 } ], "dates": [ { "type": "publication", "start": "2016-12-31", "end": "2016-12-31", "precision": "day", "verbatim": "2016-12-31", "evidence": [ { "source": "imf_publication_url" } ], "confidence": 0.98 }, { "type": "imf_index_date", "start": "2012-08-03", "end": "2012-08-03", "precision": "day", "verbatim": "2012-08-03T04:00:00Z", "evidence": [ { "source": "imf_index_metadata" } ], "confidence": 1.0 }, { "type": "date_mention", "start": "2012-07-23", "end": "2012-07-23", "precision": "day", "verbatim": "July 23, 2012", "evidence": [ { "evidence_id": "ev-a394ba5149c21608", "page": 1, "quote": "July 23, 2012", "source": "document" } ], "confidence": 0.65 }, { "type": "date_mention", "start": "2001-01-29", "end": "2001-01-29", "precision": "day", "verbatim": "January 29, 2001", "evidence": [ { "evidence_id": "ev-81ffb13d124a001a", "page": 1, "quote": "January 29, 2001", "source": "document" } ], "confidence": 0.65 }, { "type": "mission_or_report_range", "start": "2012-04-10", "end": "2012-04-23", "precision": "day", "verbatim": "April 10–April 23, 2012", "evidence": [ { "evidence_id": "ev-b22860fa3530b0f2", "page": 6, "quote": "April 10–April 23, 2012", "source": "document" } ], "confidence": 0.8 }, { "type": "date_mention", "start": "2012-04-23", "end": "2012-04-23", "precision": "day", "verbatim": "April 23, 2012", "evidence": [ { "evidence_id": "ev-68680f37916751fb", "page": 6, "quote": "April 23, 2012", "source": "document" } ], "confidence": 0.65 } ], "metadata": { "series": [ "IMF Staff Country Reports" ], "series_volume_no": "Country Report No. 2012/219", "doi": [], "isbn": [], "subjects": [ "Mining sector", "Income and capital gains taxes", "Non-renewable resources", "Corporate income tax", "Oil, gas and mining taxes", "Economic sectors", "Taxes", "Environment" ], "topics": [ "Real sector|Sectoral analysis|Industrial sector|Mining sector ", " Real sector|Sectoral analysis|Industrial sector ", " Real sector|Sectoral analysis ", " Real sector ", " Fiscal policy and management|Taxes|Income and capital gains taxes ", " Fiscal policy and management|Taxes ", " Fiscal policy and management ", " Real sector|Production and growth|Natural resources|Non-renewable resources ", " Real sector|Production and growth|Natural resources ", " Real sector|Production and growth ", " Real sector ", " Fiscal policy and management|Taxes|Income and capital gains taxes|Corporate income tax ", " Fiscal policy and management|Taxes|Income and capital gains taxes ", " Fiscal policy and management|Taxes ", " Fiscal policy and management ", " Fiscal policy and management|Taxes|Natural resource taxes|Oil, gas and mining taxes ", " Fiscal policy and management|Taxes|Natural resource taxes ", " Fiscal policy and management|Taxes ", " Fiscal policy and management ", " Fiscal policy and management|Taxes ", " Fiscal policy and management ", " Fund operations|IMF lending|Charges ", " Fund operations|IMF lending ", " Fund operations" ], "keywords": [ "ISCR,CR,government share,withholding tax,excise tax,fiscal regime,tax revenue,Mining sector,Income and capital gains taxes,Non-renewable resources,Corporate income tax,Oil,gas and mining taxes,Africa" ], "description_indexed": "This Technical Assistance (TA) Report on the Philippines discusses the fiscal regime for the mining sector. The Philippines has long been a producer of minerals, but the mining and petroleum sectors account for only a small share of the economy, exports, and government revenue. The petroleum sector comprises only two fields—one producing natural gas and condensate and one producing crude oil. The TA report suggests legislative reforms of financial and technical assistance agreements (FTAAs), repealing of tax incentives and consolidating all domestic tax rules, and fostering sound environmental practices.", "authoring_departments": [ { "name": "Fiscal Affairs Department", "evidence": [ { "evidence_id": "ev-4c9879684cfb461b", "page": 2, "quote": "Fiscal Affairs Department", "source": "document" } ], "confidence": 0.9 } ], "source_page_url": "https://www.imf.org/en/publications/cr/issues/2016/12/31/philippines-reform-of-the-fiscal-regimes-for-mining-and-petroleum-26150", "source_pdf_url": "https://www.imf.org/external/pubs/ft/scr/2012/cr12219.pdf", "page_count": 57, "interim_extraction_method": "pymupdf4llm+pymupdf-layout", "needs_ocr_pages": [] }, "observations": [ { "text": "The views expressed in this document are those of the staff team and do not necessarily reflect the views of the Government of Philippines or the Executive Board of the IMF.", "verbatim": "The views expressed in this document are those of the staff team and do not necessarily reflect the views of the Government of Philippines or the Executive Board of the IMF.", "topic": null, "severity": null, "evidence": [ { "evidence_id": "ev-1b288c0156a51e32", "page": 1, "quote": "The views expressed in this document are those of the staff team and do not necessarily reflect the views of the Government of Philippines or the Executive Board of the IMF.", "source": "document" } ], "confidence": 0.62, "extraction_method": "diagnostic_signal_sentence", "review_status": "unreviewed", "observation_id": "cr-2012-219-obs-0001" }, { "text": "The mining sector’s low contribution to government revenue is, in part, due to the mining sector comprising mostly small-scale mines (with about 34 percent of total value mining production) do not pay a lot of tax, older mines that are in their twilight years, and a few new mines that are enjoying tax holidays.", "verbatim": "The mining sector’s low contribution to government revenue is, in part, due to the mining sector comprising mostly small-scale mines (with about 34 percent of total value mining production) do not pay a lot of tax, older mines that are in their twilight years, and a few new mines that are enjoying tax holidays.", "topic": "Emil M. Sunley, Selcuk Caner, Richard Krever, and Oana Luca June 2012", "severity": null, "evidence": [ { "evidence_id": "ev-5eb15b994189fd01", "page": 7, "quote": "The mining sector’s low contribution to government revenue is, in part, due to the mining sector comprising mostly small-scale mines (with about 34 percent of total value mining production) do not pay a lot of tax, older mines that are in their twilight years, and a few new mines that are enjoying tax holidays.", "source": "document" } ], "confidence": 0.62, "extraction_method": "diagnostic_signal_sentence", "review_status": "unreviewed", "observation_id": "cr-2012-219-obs-0002" }, { "text": "The Philippine petroleum fiscal regime, embodied in petroleum service contracts, is straight-forward and does not need a major overhaul.", "verbatim": "The Philippine petroleum fiscal regime, embodied in petroleum service contracts, is straight-forward and does not need a major overhaul.", "topic": "Emil M. Sunley, Selcuk Caner, Richard Krever, and Oana Luca June 2012", "severity": null, "evidence": [ { "evidence_id": "ev-fa111d8cabccce14", "page": 8, "quote": "The Philippine petroleum fiscal regime, embodied in petroleum service contracts, is straight-forward and does not need a major overhaul.", "source": "document" } ], "confidence": 0.62, "extraction_method": "diagnostic_signal_sentence", "review_status": "unreviewed", "observation_id": "cr-2012-219-obs-0003" }, { "text": "There was, however, insufficient time available for this mission to do a quantitative assessment of alternative fiscal regimes for the petroleum.", "verbatim": "There was, however, insufficient time available for this mission to do a quantitative assessment of alternative fiscal regimes for the petroleum.", "topic": "Emil M. Sunley, Selcuk Caner, Richard Krever, and Oana Luca June 2012", "severity": null, "evidence": [ { "evidence_id": "ev-fadce86136f44c52", "page": 8, "quote": "There was, however, insufficient time available for this mission to do a quantitative assessment of alternative fiscal regimes for the petroleum.", "source": "document" } ], "confidence": 0.62, "extraction_method": "diagnostic_signal_sentence", "review_status": "unreviewed", "observation_id": "cr-2012-219-obs-0004" }, { "text": "4 The ownership rules restricted the availability of investment capital, and attempts to circumvent the rule through ownership tiering arrangements proved ineffective as company securities administrators shifted from a first tier control test to full tracing through tiers (known as grandfathering in local terminology) to prevent majority foreign ownership.", "verbatim": "4 The ownership rules restricted the availability of investment capital, and attempts to circumvent the rule through ownership tiering arrangements proved ineffective as company securities administrators shifted from a first tier control test to full tracing through tiers (known as grandfathering in local terminology) to prevent majority foreign ownership.", "topic": "Emil M. Sunley, Selcuk Caner, Richard Krever, and Oana Luca June 2012", "severity": null, "evidence": [ { "evidence_id": "ev-79edc7ffb687e627", "page": 9, "quote": "4 The ownership rules restricted the availability of investment capital, and attempts to circumvent the rule through ownership tiering arrangements proved ineffective as company securities administrators shifted from a first tier control test to full tracing through tiers (known as grandfathering in local terminology) to prevent majority foreign ownership.", "source": "document" } ], "confidence": 0.62, "extraction_method": "diagnostic_signal_sentence", "review_status": "unreviewed", "observation_id": "cr-2012-219-obs-0005" }, { "text": "The Constitution, however, allows full foreign ownership if the President enters into technical or financial assistance agreements with foreign-owned corporation for large-scale exploration, development, and utilization of minerals and petroleum.", "verbatim": "The Constitution, however, allows full foreign ownership if the President enters into technical or financial assistance agreements with foreign-owned corporation for large-scale exploration, development, and utilization of minerals and petroleum.", "topic": "Emil M. Sunley, Selcuk Caner, Richard Krever, and Oana Luca June 2012", "severity": null, "evidence": [ { "evidence_id": "ev-728271924f91ea60", "page": 9, "quote": "The Constitution, however, allows full foreign ownership if the President enters into technical or financial assistance agreements with foreign-owned corporation for large-scale exploration, development, and utilization of minerals and petroleum.", "source": "document" } ], "confidence": 0.62, "extraction_method": "diagnostic_signal_sentence", "review_status": "unreviewed", "observation_id": "cr-2012-219-obs-0006" }, { "text": "However, the industry responded to high mineral prices in the past several years by increasing production and investment (Table 1).", "verbatim": "However, the industry responded to high mineral prices in the past several years by increasing production and investment (Table 1).", "topic": "Emil M. Sunley, Selcuk Caner, Richard Krever, and Oana Luca June 2012", "severity": null, "evidence": [ { "evidence_id": "ev-560c41a26b0b9968", "page": 10, "quote": "However, the industry responded to high mineral prices in the past several years by increasing production and investment (Table 1).", "source": "document" } ], "confidence": 0.62, "extraction_method": "diagnostic_signal_sentence", "review_status": "unreviewed", "observation_id": "cr-2012-219-obs-0007" }, { "text": "[5] However, the industry remained small due to low productivity and low world prices of minerals.", "verbatim": "[5] However, the industry remained small due to low productivity and low world prices of minerals.", "topic": "Emil M. Sunley, Selcuk Caner, Richard Krever, and Oana Luca June 2012", "severity": null, "evidence": [ { "evidence_id": "ev-6664b05ba98db63d", "page": 10, "quote": "[5] However, the industry remained small due to low productivity and low world prices of minerals.", "source": "document" } ], "confidence": 0.62, "extraction_method": "diagnostic_signal_sentence", "review_status": "unreviewed", "observation_id": "cr-2012-219-obs-0008" }, { "text": "However, they have recovered since then, mostly due to the increase in gold and copper prices and increased production in response to high prices.", "verbatim": "However, they have recovered since then, mostly due to the increase in gold and copper prices and increased production in response to high prices.", "topic": "Emil M. Sunley, Selcuk Caner, Richard Krever, and Oana Luca June 2012", "severity": null, "evidence": [ { "evidence_id": "ev-e07622f83882d488", "page": 11, "quote": "However, they have recovered since then, mostly due to the increase in gold and copper prices and increased production in response to high prices.", "source": "document" } ], "confidence": 0.62, "extraction_method": "diagnostic_signal_sentence", "review_status": "unreviewed", "observation_id": "cr-2012-219-obs-0009" }, { "text": "Low tax revenues are due to the mining sector comprising mostly small-scale mines (with about 34 percent of total value of production) that do not pay a lot of tax, older mines that are in their twilight years, and a few new mines that are enjoying tax holidays.", "verbatim": "Low tax revenues are due to the mining sector comprising mostly small-scale mines (with about 34 percent of total value of production) that do not pay a lot of tax, older mines that are in their twilight years, and a few new mines that are enjoying tax holidays.", "topic": "Emil M. Sunley, Selcuk Caner, Richard Krever, and Oana Luca June 2012", "severity": null, "evidence": [ { "evidence_id": "ev-942d51363bb06f5f", "page": 11, "quote": "Low tax revenues are due to the mining sector comprising mostly small-scale mines (with about 34 percent of total value of production) that do not pay a lot of tax, older mines that are in their twilight years, and a few new mines that are enjoying tax holidays.", "source": "document" } ], "confidence": 0.62, "extraction_method": "diagnostic_signal_sentence", "review_status": "unreviewed", "observation_id": "cr-2012-219-obs-0010" }, { "text": "However, given Tampakan’s fiscal regime, which is no longer available for new projects, national government revenue during the first five operating years (the recovery period) will be limited to royalty payments to host barangays and host indigenous peoples.", "verbatim": "However, given Tampakan’s fiscal regime, which is no longer available for new projects, national government revenue during the first five operating years (the recovery period) will be limited to royalty payments to host barangays and host indigenous peoples.", "topic": "Emil M. Sunley, Selcuk Caner, Richard Krever, and Oana Luca June 2012", "severity": null, "evidence": [ { "evidence_id": "ev-ef45ff651682073d", "page": 13, "quote": "However, given Tampakan’s fiscal regime, which is no longer available for new projects, national government revenue during the first five operating years (the recovery period) will be limited to royalty payments to host barangays and host indigenous peoples.", "source": "document" } ], "confidence": 0.62, "extraction_method": "diagnostic_signal_sentence", "review_status": "unreviewed", "observation_id": "cr-2012-219-obs-0011" }, { "text": "However when governance is weak, oil, gas, and mineral resources may instead cause poverty, corruption, and conflict—the so called “resource curse.” The EITI aims to work against this “curse” by improving transparency and accountability.", "verbatim": "However when governance is weak, oil, gas, and mineral resources may instead cause poverty, corruption, and conflict—the so called “resource curse.” The EITI aims to work against this “curse” by improving transparency and accountability.", "topic": "Emil M. Sunley, Selcuk Caner, Richard Krever, and Oana Luca June 2012", "severity": null, "evidence": [ { "evidence_id": "ev-2938aaeffc9c5b69", "page": 14, "quote": "However when governance is weak, oil, gas, and mineral resources may instead cause poverty, corruption, and conflict—the so called “resource curse.” The EITI aims to work against this “curse” by improving transparency and accountability.", "source": "document" } ], "confidence": 0.62, "extraction_method": "diagnostic_signal_sentence", "review_status": "unreviewed", "observation_id": "cr-2012-219-obs-0012" }, { "text": "The EITI supports improved governance in resource-rich countries through the full publication and reconciliation of company payments and government revenues from oil, gas, and mining.", "verbatim": "The EITI supports improved governance in resource-rich countries through the full publication and reconciliation of company payments and government revenues from oil, gas, and mining.", "topic": "Emil M. Sunley, Selcuk Caner, Richard Krever, and Oana Luca June 2012", "severity": null, "evidence": [ { "evidence_id": "ev-90b7fa3c6ff28e70", "page": 14, "quote": "The EITI supports improved governance in resource-rich countries through the full publication and reconciliation of company payments and government revenues from oil, gas, and mining.", "source": "document" } ], "confidence": 0.62, "extraction_method": "diagnostic_signal_sentence", "review_status": "unreviewed", "observation_id": "cr-2012-219-obs-0013" }, { "text": "Both want to maximize rewards and shift as much risk as possible to the other party.", "verbatim": "Both want to maximize rewards and shift as much risk as possible to the other party.", "topic": "Emil M. Sunley, Selcuk Caner, Richard Krever, and Oana Luca June 2012", "severity": null, "evidence": [ { "evidence_id": "ev-de8bafe4c84d72af", "page": 16, "quote": "Both want to maximize rewards and shift as much risk as possible to the other party.", "source": "document" } ], "confidence": 0.62, "extraction_method": "diagnostic_signal_sentence", "review_status": "unreviewed", "observation_id": "cr-2012-219-obs-0014" }, { "text": "If not, the fiscal regime may be inappropriate for the country, given its exploration, development, and production costs; the size and quality of mineral deposits; and investor perception of commercial and political risk.", "verbatim": "If not, the fiscal regime may be inappropriate for the country, given its exploration, development, and production costs; the size and quality of mineral deposits; and investor perception of commercial and political risk.", "topic": "Emil M. Sunley, Selcuk Caner, Richard Krever, and Oana Luca June 2012", "severity": null, "evidence": [ { "evidence_id": "ev-0b9a72e7f5e701cc", "page": 16, "quote": "If not, the fiscal regime may be inappropriate for the country, given its exploration, development, and production costs; the size and quality of mineral deposits; and investor perception of commercial and political risk.", "source": "document" } ], "confidence": 0.62, "extraction_method": "diagnostic_signal_sentence", "review_status": "unreviewed", "observation_id": "cr-2012-219-obs-0015" }, { "text": "Mining companies and governments have competing interests with respect to the division of risk and reward of mineral development.", "verbatim": "Mining companies and governments have competing interests with respect to the division of risk and reward of mineral development.", "topic": "Emil M. Sunley, Selcuk Caner, Richard Krever, and Oana Luca June 2012", "severity": null, "evidence": [ { "evidence_id": "ev-8ea29de29d1d1573", "page": 16, "quote": "Mining companies and governments have competing interests with respect to the division of risk and reward of mineral development.", "source": "document" } ], "confidence": 0.62, "extraction_method": "diagnostic_signal_sentence", "review_status": "unreviewed", "observation_id": "cr-2012-219-obs-0016" }, { "text": "Profitbased instruments allow the government to share in the upside of highly profitable projects, but they also increase the government’s share in the project’s risk inasmuch as the government may receive no revenue if the project turns out to be unprofitable.", "verbatim": "Profitbased instruments allow the government to share in the upside of highly profitable projects, but they also increase the government’s share in the project’s risk inasmuch as the government may receive no revenue if the project turns out to be unprofitable.", "topic": "Emil M. Sunley, Selcuk Caner, Richard Krever, and Oana Luca June 2012", "severity": null, "evidence": [ { "evidence_id": "ev-932855ce419f8897", "page": 16, "quote": "Profitbased instruments allow the government to share in the upside of highly profitable projects, but they also increase the government’s share in the project’s risk inasmuch as the government may receive no revenue if the project turns out to be unprofitable.", "source": "document" } ], "confidence": 0.62, "extraction_method": "diagnostic_signal_sentence", "review_status": "unreviewed", "observation_id": "cr-2012-219-obs-0017" }, { "text": "establishes a competitive base which provides investors with a fairer rate of return for their risk and investment while delivering a steady and predictable stream of revenue to the government for the sale of its resources, with the government’s share rising appropriately as profits from the sale of its resources increase; and", "verbatim": "establishes a competitive base which provides investors with a fairer rate of return for their risk and investment while delivering a steady and predictable stream of revenue to the government for the sale of its resources, with the government’s share rising appropriately as profits from the sale of its resources increase; and", "topic": "Emil M. Sunley, Selcuk Caner, Richard Krever, and Oana Luca June 2012", "severity": null, "evidence": [ { "evidence_id": "ev-54a207ad94236ad4", "page": 17, "quote": "establishes a competitive base which provides investors with a fairer rate of return for their risk and investment while delivering a steady and predictable stream of revenue to the government for the sale of its resources, with the government’s share rising appropriately as profits from the sale of its resources increase; and", "source": "document" } ], "confidence": 0.62, "extraction_method": "diagnostic_signal_sentence", "review_status": "unreviewed", "observation_id": "cr-2012-219-obs-0018" }, { "text": "rationalization of multiple mining fiscal regimes into a single progressive system that", "verbatim": "rationalization of multiple mining fiscal regimes into a single progressive system that", "topic": "Emil M. Sunley, Selcuk Caner, Richard Krever, and Oana Luca June 2012", "severity": null, "evidence": [ { "evidence_id": "ev-5c741e4d8300a723", "page": 17, "quote": "rationalization of multiple mining fiscal regimes into a single progressive system that", "source": "document" } ], "confidence": 0.62, "extraction_method": "diagnostic_signal_sentence", "review_status": "unreviewed", "observation_id": "cr-2012-219-obs-0019" }, { "text": "The model calculates the average effective tax rate (AETR), also known as the “government take”, using cash flows discounted at 10 percent.", "verbatim": "The model calculates the average effective tax rate (AETR), also known as the “government take”, using cash flows discounted at 10 percent.", "topic": "Emil M. Sunley, Selcuk Caner, Richard Krever, and Oana Luca June 2012", "severity": null, "evidence": [ { "evidence_id": "ev-e836773210a8c224", "page": 18, "quote": "The model calculates the average effective tax rate (AETR), also known as the “government take”, using cash flows discounted at 10 percent.", "source": "document" } ], "confidence": 0.62, "extraction_method": "diagnostic_signal_sentence", "review_status": "unreviewed", "observation_id": "cr-2012-219-obs-0020" }, { "text": "Royalties, however, raise the marginal cost of extracting minerals, as they are based on the volume or value of production without deduction for cost.", "verbatim": "Royalties, however, raise the marginal cost of extracting minerals, as they are based on the volume or value of production without deduction for cost.", "topic": "Emil M. Sunley, Selcuk Caner, Richard Krever, and Oana Luca June 2012", "severity": null, "evidence": [ { "evidence_id": "ev-2fe09878ed2102cf", "page": 20, "quote": "Royalties, however, raise the marginal cost of extracting minerals, as they are based on the volume or value of production without deduction for cost.", "source": "document" } ], "confidence": 0.62, "extraction_method": "diagnostic_signal_sentence", "review_status": "unreviewed", "observation_id": "cr-2012-219-obs-0021" }, { "text": "[16] The Act, however, provides that 10 percent of all royalties shall accrue to the Mines and Geosciences Bureau (MGB) of DENR.", "verbatim": "[16] The Act, however, provides that 10 percent of all royalties shall accrue to the Mines and Geosciences Bureau (MGB) of DENR.", "topic": "Emil M. Sunley, Selcuk Caner, Richard Krever, and Oana Luca June 2012", "severity": null, "evidence": [ { "evidence_id": "ev-a9c6cfe3077292ed", "page": 21, "quote": "[16] The Act, however, provides that 10 percent of all royalties shall accrue to the Mines and Geosciences Bureau (MGB) of DENR.", "source": "document" } ], "confidence": 0.62, "extraction_method": "diagnostic_signal_sentence", "review_status": "unreviewed", "observation_id": "cr-2012-219-obs-0022" }, { "text": "20 Although there is no direct legislative authority for the current royalty applied in all mineral reservations, the validity of the royalty has not been challenged.", "verbatim": "20 Although there is no direct legislative authority for the current royalty applied in all mineral reservations, the validity of the royalty has not been challenged.", "topic": "Emil M. Sunley, Selcuk Caner, Richard Krever, and Oana Luca June 2012", "severity": null, "evidence": [ { "evidence_id": "ev-1ccaee5e3fd9d8b6", "page": 22, "quote": "20 Although there is no direct legislative authority for the current royalty applied in all mineral reservations, the validity of the royalty has not been challenged.", "source": "document" } ], "confidence": 0.62, "extraction_method": "diagnostic_signal_sentence", "review_status": "unreviewed", "observation_id": "cr-2012-219-obs-0023" }, { "text": "however, as extensive public consultation and notifications are needed first [19] and declarations might be challenged if the explanation of national interest varies significantly from precedents that consider the national interest in specific terms such as immediate land degradation threats.", "verbatim": "however, as extensive public consultation and notifications are needed first [19] and declarations might be challenged if the explanation of national interest varies significantly from precedents that consider the national interest in specific terms such as immediate land degradation threats.", "topic": "Emil M. Sunley, Selcuk Caner, Richard Krever, and Oana Luca June 2012", "severity": null, "evidence": [ { "evidence_id": "ev-1ec482d83c4d7250", "page": 22, "quote": "however, as extensive public consultation and notifications are needed first [19] and declarations might be challenged if the explanation of national interest varies significantly from precedents that consider the national interest in specific terms such as immediate land degradation threats.", "source": "document" } ], "confidence": 0.62, "extraction_method": "diagnostic_signal_sentence", "review_status": "unreviewed", "observation_id": "cr-2012-219-obs-0024" }, { "text": "In practice, however, the Bureau of Internal Revenue (BIR) interprets the charging section as applying only once.", "verbatim": "In practice, however, the Bureau of Internal Revenue (BIR) interprets the charging section as applying only once.", "topic": "Emil M. Sunley, Selcuk Caner, Richard Krever, and Oana Luca June 2012", "severity": null, "evidence": [ { "evidence_id": "ev-9a77c647a807ea7d", "page": 23, "quote": "In practice, however, the Bureau of Internal Revenue (BIR) interprets the charging section as applying only once.", "source": "document" } ], "confidence": 0.62, "extraction_method": "diagnostic_signal_sentence", "review_status": "unreviewed", "observation_id": "cr-2012-219-obs-0025" }, { "text": "Most, but not all, of the tax rules applicable to mining companies are found in the NIRC.", "verbatim": "Most, but not all, of the tax rules applicable to mining companies are found in the NIRC.", "topic": "Emil M. Sunley, Selcuk Caner, Richard Krever, and Oana Luca June 2012", "severity": null, "evidence": [ { "evidence_id": "ev-bd5f31ec741f331e", "page": 24, "quote": "Most, but not all, of the tax rules applicable to mining companies are found in the NIRC.", "source": "document" } ], "confidence": 0.62, "extraction_method": "diagnostic_signal_sentence", "review_status": "unreviewed", "observation_id": "cr-2012-219-obs-0026" }, { "text": "The Board of the BOI, however, can restrict the availability of certain incentives, and in recent years the Board has used its administrative discretion to grant only non-pioneer income tax holidays to mining companies, reducing the holiday period to four to six years.", "verbatim": "The Board of the BOI, however, can restrict the availability of certain incentives, and in recent years the Board has used its administrative discretion to grant only non-pioneer income tax holidays to mining companies, reducing the holiday period to four to six years.", "topic": "Emil M. Sunley, Selcuk Caner, Richard Krever, and Oana Luca June 2012", "severity": null, "evidence": [ { "evidence_id": "ev-69afcf5e7a517d27", "page": 24, "quote": "The Board of the BOI, however, can restrict the availability of certain incentives, and in recent years the Board has used its administrative discretion to grant only non-pioneer income tax holidays to mining companies, reducing the holiday period to four to six years.", "source": "document" } ], "confidence": 0.62, "extraction_method": "diagnostic_signal_sentence", "review_status": "unreviewed", "observation_id": "cr-2012-219-obs-0027" }, { "text": "The model FTAA provides a number of incentives not found in any law, and agreements based on the model contain concessions that appear not to be authorized by law.", "verbatim": "The model FTAA provides a number of incentives not found in any law, and agreements based on the model contain concessions that appear not to be authorized by law.", "topic": "Emil M. Sunley, Selcuk Caner, Richard Krever, and Oana Luca June 2012", "severity": null, "evidence": [ { "evidence_id": "ev-125a38f9ecd25ddd", "page": 25, "quote": "The model FTAA provides a number of incentives not found in any law, and agreements based on the model contain concessions that appear not to be authorized by law.", "source": "document" } ], "confidence": 0.62, "extraction_method": "diagnostic_signal_sentence", "review_status": "unreviewed", "observation_id": "cr-2012-219-obs-0028" }, { "text": "There is usually a gap between the amount of investment approved and the amount of actual investment that is made over the next several years.", "verbatim": "There is usually a gap between the amount of investment approved and the amount of actual investment that is made over the next several years.", "topic": "Emil M. Sunley, Selcuk Caner, Richard Krever, and Oana Luca June 2012", "severity": null, "evidence": [ { "evidence_id": "ev-58e84e43ba77ed32", "page": 25, "quote": "There is usually a gap between the amount of investment approved and the amount of actual investment that is made over the next several years.", "source": "document" } ], "confidence": 0.62, "extraction_method": "diagnostic_signal_sentence", "review_status": "unreviewed", "observation_id": "cr-2012-219-obs-0029" }, { "text": "The exemptions do not include taxes based on mineral production including the mineral excise tax, local business tax, and royalties.", "verbatim": "The exemptions do not include taxes based on mineral production including the mineral excise tax, local business tax, and royalties.", "topic": "Emil M. Sunley, Selcuk Caner, Richard Krever, and Oana Luca June 2012", "severity": null, "evidence": [ { "evidence_id": "ev-cc74b9b70e78fd83", "page": 26, "quote": "The exemptions do not include taxes based on mineral production including the mineral excise tax, local business tax, and royalties.", "source": "document" } ], "confidence": 0.62, "extraction_method": "diagnostic_signal_sentence", "review_status": "unreviewed", "observation_id": "cr-2012-219-obs-0030" }, { "text": "A longer loss carryover period is needed, however, for investments in the mining sector.", "verbatim": "A longer loss carryover period is needed, however, for investments in the mining sector.", "topic": "Emil M. Sunley, Selcuk Caner, Richard Krever, and Oana Luca June 2012", "severity": null, "evidence": [ { "evidence_id": "ev-cf3d75cfa898f111", "page": 27, "quote": "A longer loss carryover period is needed, however, for investments in the mining sector.", "source": "document" } ], "confidence": 0.62, "extraction_method": "diagnostic_signal_sentence", "review_status": "unreviewed", "observation_id": "cr-2012-219-obs-0031" }, { "text": "Assets with a life exceeding 10 years may be depreciated for any deemed life between five years and effective life, as nominated by the taxpayer.", "verbatim": "Assets with a life exceeding 10 years may be depreciated for any deemed life between five years and effective life, as nominated by the taxpayer.", "topic": "Emil M. Sunley, Selcuk Caner, Richard Krever, and Oana Luca June 2012", "severity": null, "evidence": [ { "evidence_id": "ev-582b2f61b04951cd", "page": 27, "quote": "Assets with a life exceeding 10 years may be depreciated for any deemed life between five years and effective life, as nominated by the taxpayer.", "source": "document" } ], "confidence": 0.62, "extraction_method": "diagnostic_signal_sentence", "review_status": "unreviewed", "observation_id": "cr-2012-219-obs-0032" }, { "text": "Mining companies are allowed an immediate deduction for pollution equipment [28] and an accelerated depreciation regime for assets with an effective life exceeding 10 years.", "verbatim": "Mining companies are allowed an immediate deduction for pollution equipment [28] and an accelerated depreciation regime for assets with an effective life exceeding 10 years.", "topic": "Emil M. Sunley, Selcuk Caner, Richard Krever, and Oana Luca June 2012", "severity": null, "evidence": [ { "evidence_id": "ev-fd7b82d17569ef62", "page": 27, "quote": "Mining companies are allowed an immediate deduction for pollution equipment [28] and an accelerated depreciation regime for assets with an effective life exceeding 10 years.", "source": "document" } ], "confidence": 0.62, "extraction_method": "diagnostic_signal_sentence", "review_status": "unreviewed", "observation_id": "cr-2012-219-obs-0033" }, { "text": "[30] The rules are more generous than those found in some other jurisdictions, which provide accelerated cost recovery to encourage investment in the mining sector, but are not excessively generous.", "verbatim": "[30] The rules are more generous than those found in some other jurisdictions, which provide accelerated cost recovery to encourage investment in the mining sector, but are not excessively generous.", "topic": "Emil M. Sunley, Selcuk Caner, Richard Krever, and Oana Luca June 2012", "severity": null, "evidence": [ { "evidence_id": "ev-eea0dbd41ae76cbf", "page": 27, "quote": "[30] The rules are more generous than those found in some other jurisdictions, which provide accelerated cost recovery to encourage investment in the mining sector, but are not excessively generous.", "source": "document" } ], "confidence": 0.62, "extraction_method": "diagnostic_signal_sentence", "review_status": "unreviewed", "observation_id": "cr-2012-219-obs-0034" }, { "text": "However, it is not unusual for income tax laws to allow a deduction for deposits to a mining rehabilitation fund where the funds are quarantined and protected for the purpose of mine site rehabilitation.", "verbatim": "However, it is not unusual for income tax laws to allow a deduction for deposits to a mining rehabilitation fund where the funds are quarantined and protected for the purpose of mine site rehabilitation.", "topic": "Emil M. Sunley, Selcuk Caner, Richard Krever, and Oana Luca June 2012", "severity": null, "evidence": [ { "evidence_id": "ev-449c8d496d4cd6bd", "page": 28, "quote": "However, it is not unusual for income tax laws to allow a deduction for deposits to a mining rehabilitation fund where the funds are quarantined and protected for the purpose of mine site rehabilitation.", "source": "document" } ], "confidence": 0.62, "extraction_method": "diagnostic_signal_sentence", "review_status": "unreviewed", "observation_id": "cr-2012-219-obs-0035" }, { "text": "[34] While the mining company retains legal title to the funds, the rules under which the accounts are established effectively quarantine the deposits so they can only be applied towards rehabilitation expenses.", "verbatim": "[34] While the mining company retains legal title to the funds, the rules under which the accounts are established effectively quarantine the deposits so they can only be applied towards rehabilitation expenses.", "topic": "Emil M. Sunley, Selcuk Caner, Richard Krever, and Oana Luca June 2012", "severity": null, "evidence": [ { "evidence_id": "ev-6cb29ed18f773b3c", "page": 28, "quote": "[34] While the mining company retains legal title to the funds, the rules under which the accounts are established effectively quarantine the deposits so they can only be applied towards rehabilitation expenses.", "source": "document" } ], "confidence": 0.62, "extraction_method": "diagnostic_signal_sentence", "review_status": "unreviewed", "observation_id": "cr-2012-219-obs-0036" }, { "text": "However, interim rules adopted the OECD transfer pricing guidelines for operation in the Philippines and these do not explicitly address the problem of thin capitalization.", "verbatim": "However, interim rules adopted the OECD transfer pricing guidelines for operation in the Philippines and these do not explicitly address the problem of thin capitalization.", "topic": "Emil M. Sunley, Selcuk Caner, Richard Krever, and Oana Luca June 2012", "severity": null, "evidence": [ { "evidence_id": "ev-8039b9bf31ca6486", "page": 29, "quote": "However, interim rules adopted the OECD transfer pricing guidelines for operation in the Philippines and these do not explicitly address the problem of thin capitalization.", "source": "document" } ], "confidence": 0.62, "extraction_method": "diagnostic_signal_sentence", "review_status": "unreviewed", "observation_id": "cr-2012-219-obs-0037" }, { "text": "It may be the case, however, that even the initial issue of a license has a value well in excess of its nominal issuance price where the market is aware of likely mineral deposits in the region or nearby.", "verbatim": "It may be the case, however, that even the initial issue of a license has a value well in excess of its nominal issuance price where the market is aware of likely mineral deposits in the region or nearby.", "topic": "Emil M. Sunley, Selcuk Caner, Richard Krever, and Oana Luca June 2012", "severity": null, "evidence": [ { "evidence_id": "ev-16a5f7dbb29c7919", "page": 30, "quote": "It may be the case, however, that even the initial issue of a license has a value well in excess of its nominal issuance price where the market is aware of likely mineral deposits in the region or nearby.", "source": "document" } ], "confidence": 0.62, "extraction_method": "diagnostic_signal_sentence", "review_status": "unreviewed", "observation_id": "cr-2012-219-obs-0038" }, { "text": "These proposals may confuse the gains that accrue after exploration permits are issued because of mineral finds on or near the permit area with the initial value of the permit.", "verbatim": "These proposals may confuse the gains that accrue after exploration permits are issued because of mineral finds on or near the permit area with the initial value of the permit.", "topic": "Emil M. Sunley, Selcuk Caner, Richard Krever, and Oana Luca June 2012", "severity": null, "evidence": [ { "evidence_id": "ev-00b5022f5d96eb63", "page": 30, "quote": "These proposals may confuse the gains that accrue after exploration permits are issued because of mineral finds on or near the permit area with the initial value of the permit.", "source": "document" } ], "confidence": 0.62, "extraction_method": "diagnostic_signal_sentence", "review_status": "unreviewed", "observation_id": "cr-2012-219-obs-0039" }, { "text": "[35] However, the definition of Philippine source income is ambiguous and does not clearly apply to business income derived for the provision of services such as exploration activities, project supervision or construction activities in the Philippines.", "verbatim": "[35] However, the definition of Philippine source income is ambiguous and does not clearly apply to business income derived for the provision of services such as exploration activities, project supervision or construction activities in the Philippines.", "topic": "Emil M. Sunley, Selcuk Caner, Richard Krever, and Oana Luca June 2012", "severity": null, "evidence": [ { "evidence_id": "ev-40fc8c13c760d82c", "page": 30, "quote": "[35] However, the definition of Philippine source income is ambiguous and does not clearly apply to business income derived for the provision of services such as exploration activities, project supervision or construction activities in the Philippines.", "source": "document" } ], "confidence": 0.62, "extraction_method": "diagnostic_signal_sentence", "review_status": "unreviewed", "observation_id": "cr-2012-219-obs-0040" }, { "text": "[39] There is no specific rule for mining interests, however, and a sale of mining interests by a non-resident might be able to escape tax if sold directly and almost certainly would escape tax if it were sold indirectly by way of a sale of shares in a foreign upper tier company that owned a Philippine company that owned the mining interests.", "verbatim": "[39] There is no specific rule for mining interests, however, and a sale of mining interests by a non-resident might be able to escape tax if sold directly and almost certainly would escape tax if it were sold indirectly by way of a sale of shares in a foreign upper tier company that owned a Philippine company that owned the mining interests.", "topic": "Emil M. Sunley, Selcuk Caner, Richard Krever, and Oana Luca June 2012", "severity": null, "evidence": [ { "evidence_id": "ev-eacdf75e86a59351", "page": 31, "quote": "[39] There is no specific rule for mining interests, however, and a sale of mining interests by a non-resident might be able to escape tax if sold directly and almost certainly would escape tax if it were sold indirectly by way of a sale of shares in a foreign upper tier company that owned a Philippine company that owned the mining interests.", "source": "document" } ], "confidence": 0.62, "extraction_method": "diagnostic_signal_sentence", "review_status": "unreviewed", "observation_id": "cr-2012-219-obs-0041" }, { "text": "However, it is likely that Philippine authorities only learn of any indirect transfers of Philippine mining rights (i.e., selling of interest in the company that owned the company with the mining rights) through international mining industry information channels and not through any government data collection.", "verbatim": "However, it is likely that Philippine authorities only learn of any indirect transfers of Philippine mining rights (i.e., selling of interest in the company that owned the company with the mining rights) through international mining industry information channels and not through any government data collection.", "topic": "Emil M. Sunley, Selcuk Caner, Richard Krever, and Oana Luca June 2012", "severity": null, "evidence": [ { "evidence_id": "ev-ff0e7480432cd30d", "page": 32, "quote": "However, it is likely that Philippine authorities only learn of any indirect transfers of Philippine mining rights (i.e., selling of interest in the company that owned the company with the mining rights) through international mining industry information channels and not through any government data collection.", "source": "document" } ], "confidence": 0.62, "extraction_method": "diagnostic_signal_sentence", "review_status": "unreviewed", "observation_id": "cr-2012-219-obs-0042" }, { "text": "Many countries have come to the conclusion that as the increased profits are attributable to the value of the commodity and it would be appropriate for the government’s share of profit to rise as profits rise while ensuring that total profits rise, too, for the investor that assumed risk to bring the", "verbatim": "Many countries have come to the conclusion that as the increased profits are attributable to the value of the commodity and it would be appropriate for the government’s share of profit to rise as profits rise while ensuring that total profits rise, too, for the investor that assumed risk to bring the", "topic": "Emil M. Sunley, Selcuk Caner, Richard Krever, and Oana Luca June 2012", "severity": null, "evidence": [ { "evidence_id": "ev-b8bb25f8faf5f443", "page": 34, "quote": "Many countries have come to the conclusion that as the increased profits are attributable to the value of the commodity and it would be appropriate for the government’s share of profit to rise as profits rise while ensuring that total profits rise, too, for the investor that assumed risk to bring the", "source": "document" } ], "confidence": 0.62, "extraction_method": "diagnostic_signal_sentence", "review_status": "unreviewed", "observation_id": "cr-2012-219-obs-0043" }, { "text": "The recovery period, however, may be extended with approval by the Secretary of DENR.", "verbatim": "The recovery period, however, may be extended with approval by the Secretary of DENR.", "topic": "Emil M. Sunley, Selcuk Caner, Richard Krever, and Oana Luca June 2012", "severity": null, "evidence": [ { "evidence_id": "ev-54ba5a765d2e20a0", "page": 35, "quote": "The recovery period, however, may be extended with approval by the Secretary of DENR.", "source": "document" } ], "confidence": 0.62, "extraction_method": "diagnostic_signal_sentence", "review_status": "unreviewed", "observation_id": "cr-2012-219-obs-0044" }, { "text": "This can be achieved with a progressive mining tax regime that increases the government’s share of profits as commodity prices and thus profits rise.", "verbatim": "This can be achieved with a progressive mining tax regime that increases the government’s share of profits as commodity prices and thus profits rise.", "topic": "Emil M. Sunley, Selcuk Caner, Richard Krever, and Oana Luca June 2012", "severity": null, "evidence": [ { "evidence_id": "ev-ebe0c341fef3424a", "page": 35, "quote": "This can be achieved with a progressive mining tax regime that increases the government’s share of profits as commodity prices and thus profits rise.", "source": "document" } ], "confidence": 0.62, "extraction_method": "diagnostic_signal_sentence", "review_status": "unreviewed", "observation_id": "cr-2012-219-obs-0045" }, { "text": "As the financial modeling in Section H of this chapter shows, the additional government share as currently structured is not progressive relative to profitability.", "verbatim": "As the financial modeling in Section H of this chapter shows, the additional government share as currently structured is not progressive relative to profitability.", "topic": "Emil M. Sunley, Selcuk Caner, Richard Krever, and Oana Luca June 2012", "severity": null, "evidence": [ { "evidence_id": "ev-10bfae18af62a299", "page": 36, "quote": "As the financial modeling in Section H of this chapter shows, the additional government share as currently structured is not progressive relative to profitability.", "source": "document" } ], "confidence": 0.62, "extraction_method": "diagnostic_signal_sentence", "review_status": "unreviewed", "observation_id": "cr-2012-219-obs-0046" }, { "text": "For this solution to work effectively, administrative practices would have to be altered significantly to", "verbatim": "For this solution to work effectively, administrative practices would have to be altered significantly to", "topic": "Emil M. Sunley, Selcuk Caner, Richard Krever, and Oana Luca June 2012", "severity": null, "evidence": [ { "evidence_id": "ev-69e2ed5632a07dce", "page": 37, "quote": "For this solution to work effectively, administrative practices would have to be altered significantly to", "source": "document" } ], "confidence": 0.62, "extraction_method": "diagnostic_signal_sentence", "review_status": "unreviewed", "observation_id": "cr-2012-219-obs-0047" }, { "text": "If the company sells into the domestic market, the suspension of VAT on imports would be progressively lifted as it is offset against VAT payable on domestic sales.", "verbatim": "If the company sells into the domestic market, the suspension of VAT on imports would be progressively lifted as it is offset against VAT payable on domestic sales.", "topic": "Emil M. Sunley, Selcuk Caner, Richard Krever, and Oana Luca June 2012", "severity": null, "evidence": [ { "evidence_id": "ev-f7d99310b1fdd977", "page": 38, "quote": "If the company sells into the domestic market, the suspension of VAT on imports would be progressively lifted as it is offset against VAT payable on domestic sales.", "source": "document" } ], "confidence": 0.62, "extraction_method": "diagnostic_signal_sentence", "review_status": "unreviewed", "observation_id": "cr-2012-219-obs-0048" }, { "text": "Once again, this solution does not address the question of customs duty imposed on imported mining equipment.", "verbatim": "Once again, this solution does not address the question of customs duty imposed on imported mining equipment.", "topic": "Emil M. Sunley, Selcuk Caner, Richard Krever, and Oana Luca June 2012", "severity": null, "evidence": [ { "evidence_id": "ev-856722a564c0e0b4", "page": 38, "quote": "Once again, this solution does not address the question of customs duty imposed on imported mining equipment.", "source": "document" } ], "confidence": 0.62, "extraction_method": "diagnostic_signal_sentence", "review_status": "unreviewed", "observation_id": "cr-2012-219-obs-0049" }, { "text": "The exemption would be limited to items imported directly by the holder of a mineral agreement for use in the importer’s mining operation and the definition of qualifying equipment would ensure ancillary items that can be applied to other purposes would not be included in the exemption.", "verbatim": "The exemption would be limited to items imported directly by the holder of a mineral agreement for use in the importer’s mining operation and the definition of qualifying equipment would ensure ancillary items that can be applied to other purposes would not be included in the exemption.", "topic": "Emil M. Sunley, Selcuk Caner, Richard Krever, and Oana Luca June 2012", "severity": null, "evidence": [ { "evidence_id": "ev-bf765b64cd481296", "page": 38, "quote": "The exemption would be limited to items imported directly by the holder of a mineral agreement for use in the importer’s mining operation and the definition of qualifying equipment would ensure ancillary items that can be applied to other purposes would not be included in the exemption.", "source": "document" } ], "confidence": 0.62, "extraction_method": "diagnostic_signal_sentence", "review_status": "unreviewed", "observation_id": "cr-2012-219-obs-0050" }, { "text": "This solution addresses the problem of VAT on imports but does not provide relief for customs duties on imported equipment.", "verbatim": "This solution addresses the problem of VAT on imports but does not provide relief for customs duties on imported equipment.", "topic": "Emil M. Sunley, Selcuk Caner, Richard Krever, and Oana Luca June 2012", "severity": null, "evidence": [ { "evidence_id": "ev-d9a21867f0837f16", "page": 38, "quote": "This solution addresses the problem of VAT on imports but does not provide relief for customs duties on imported equipment.", "source": "document" } ], "confidence": 0.62, "extraction_method": "diagnostic_signal_sentence", "review_status": "unreviewed", "observation_id": "cr-2012-219-obs-0051" }, { "text": "Similarly, if an FTAA under current law were to mine in a mineral reservation or if the authorities decided to extend the 5 percent royalty to all FTAAs, the current FTAA regime plus 5 percent royalty would impose a high burden on marginal projects risking a considerable reduction of the investment base.", "verbatim": "Similarly, if an FTAA under current law were to mine in a mineral reservation or if the authorities decided to extend the 5 percent royalty to all FTAAs, the current FTAA regime plus 5 percent royalty would impose a high burden on marginal projects risking a considerable reduction of the investment base.", "topic": "Emil M. Sunley, Selcuk Caner, Richard Krever, and Oana Luca June 2012", "severity": null, "evidence": [ { "evidence_id": "ev-b9b042fec38bfa46", "page": 41, "quote": "Similarly, if an FTAA under current law were to mine in a mineral reservation or if the authorities decided to extend the 5 percent royalty to all FTAAs, the current FTAA regime plus 5 percent royalty would impose a high burden on marginal projects risking a considerable reduction of the investment base.", "source": "document" } ], "confidence": 0.62, "extraction_method": "diagnostic_signal_sentence", "review_status": "unreviewed", "observation_id": "cr-2012-219-obs-0052" }, { "text": "The current FTAA exempts withholding until recovery and hence creates a deeper revenue gap during the first years of production.", "verbatim": "The current FTAA exempts withholding until recovery and hence creates a deeper revenue gap during the first years of production.", "topic": "Emil M. Sunley, Selcuk Caner, Richard Krever, and Oana Luca June 2012", "severity": null, "evidence": [ { "evidence_id": "ev-504466cbecf62a04", "page": 41, "quote": "The current FTAA exempts withholding until recovery and hence creates a deeper revenue gap during the first years of production.", "source": "document" } ], "confidence": 0.62, "extraction_method": "diagnostic_signal_sentence", "review_status": "unreviewed", "observation_id": "cr-2012-219-obs-0053" }, { "text": "It does show however that resource rent tax is highly flexible—capturing more of the profitable project but putting a", "verbatim": "It does show however that resource rent tax is highly flexible—capturing more of the profitable project but putting a", "topic": "Emil M. Sunley, Selcuk Caner, Richard Krever, and Oana Luca June 2012", "severity": null, "evidence": [ { "evidence_id": "ev-04078c57337877a7", "page": 43, "quote": "It does show however that resource rent tax is highly flexible—capturing more of the profitable project but putting a", "source": "document" } ], "confidence": 0.62, "extraction_method": "diagnostic_signal_sentence", "review_status": "unreviewed", "observation_id": "cr-2012-219-obs-0054" }, { "text": "Peru and Chile use a progressive royalty system in which rates increase gradually with changes in project operating margins.", "verbatim": "Peru and Chile use a progressive royalty system in which rates increase gradually with changes in project operating margins.", "topic": "Emil M. Sunley, Selcuk Caner, Richard Krever, and Oana Luca June 2012", "severity": null, "evidence": [ { "evidence_id": "ev-2df4018e7c7aa13a", "page": 43, "quote": "Peru and Chile use a progressive royalty system in which rates increase gradually with changes in project operating margins.", "source": "document" } ], "confidence": 0.62, "extraction_method": "diagnostic_signal_sentence", "review_status": "unreviewed", "observation_id": "cr-2012-219-obs-0055" }, { "text": "Another measure, the marginal effective tax rate (METR), is the wedge between pre- and post-tax rate of return .", "verbatim": "Another measure, the marginal effective tax rate (METR), is the wedge between pre- and post-tax rate of return .", "topic": "Emil M. Sunley, Selcuk Caner, Richard Krever, and Oana Luca June 2012", "severity": null, "evidence": [ { "evidence_id": "ev-42b94ea1bbb08b36", "page": 44, "quote": "Another measure, the marginal effective tax rate (METR), is the wedge between pre- and post-tax rate of return .", "source": "document" } ], "confidence": 0.62, "extraction_method": "diagnostic_signal_sentence", "review_status": "unreviewed", "observation_id": "cr-2012-219-obs-0056" }, { "text": "Accordingly, provincial governors or city mayors can issue permits for small-scale metal mining, sand and gravel extraction and, quarrying where the maximum contract area is limited to 20 hectares.", "verbatim": "Accordingly, provincial governors or city mayors can issue permits for small-scale metal mining, sand and gravel extraction and, quarrying where the maximum contract area is limited to 20 hectares.", "topic": "Emil M. Sunley, Selcuk Caner, Richard Krever, and Oana Luca June 2012", "severity": null, "evidence": [ { "evidence_id": "ev-decafbf28a49dab6", "page": 46, "quote": "Accordingly, provincial governors or city mayors can issue permits for small-scale metal mining, sand and gravel extraction and, quarrying where the maximum contract area is limited to 20 hectares.", "source": "document" } ], "confidence": 0.62, "extraction_method": "diagnostic_signal_sentence", "review_status": "unreviewed", "observation_id": "cr-2012-219-obs-0057" }, { "text": "However, LGUs’ shares from the utilization and development of national wealth are distributed with a lag of at least one year or more.", "verbatim": "However, LGUs’ shares from the utilization and development of national wealth are distributed with a lag of at least one year or more.", "topic": "Emil M. Sunley, Selcuk Caner, Richard Krever, and Oana Luca June 2012", "severity": null, "evidence": [ { "evidence_id": "ev-33eb5228a9c10362", "page": 47, "quote": "However, LGUs’ shares from the utilization and development of national wealth are distributed with a lag of at least one year or more.", "source": "document" } ], "confidence": 0.62, "extraction_method": "diagnostic_signal_sentence", "review_status": "unreviewed", "observation_id": "cr-2012-219-obs-0058" }, { "text": "There are several reasons for the delayed and insufficient transfers of revenues from natural resources to the LGUs.", "verbatim": "There are several reasons for the delayed and insufficient transfers of revenues from natural resources to the LGUs.", "topic": "Emil M. Sunley, Selcuk Caner, Richard Krever, and Oana Luca June 2012", "severity": null, "evidence": [ { "evidence_id": "ev-1b1f52ede66979a0", "page": 47, "quote": "There are several reasons for the delayed and insufficient transfers of revenues from natural resources to the LGUs.", "source": "document" } ], "confidence": 0.62, "extraction_method": "diagnostic_signal_sentence", "review_status": "unreviewed", "observation_id": "cr-2012-219-obs-0059" }, { "text": "However, such an arrangement would require amending the PSMA.", "verbatim": "However, such an arrangement would require amending the PSMA.", "topic": "Emil M. Sunley, Selcuk Caner, Richard Krever, and Oana Luca June 2012", "severity": null, "evidence": [ { "evidence_id": "ev-c6d7c8da90356d65", "page": 48, "quote": "However, such an arrangement would require amending the PSMA.", "source": "document" } ], "confidence": 0.62, "extraction_method": "diagnostic_signal_sentence", "review_status": "unreviewed", "observation_id": "cr-2012-219-obs-0060" }, { "text": "Small-scale mining does not have the economies of scale advantage of large mining operations and extraction may leave residue minerals behind.", "verbatim": "Small-scale mining does not have the economies of scale advantage of large mining operations and extraction may leave residue minerals behind.", "topic": "Emil M. Sunley, Selcuk Caner, Richard Krever, and Oana Luca June 2012", "severity": null, "evidence": [ { "evidence_id": "ev-b39d32a808c70fc8", "page": 48, "quote": "Small-scale mining does not have the economies of scale advantage of large mining operations and extraction may leave residue minerals behind.", "source": "document" } ], "confidence": 0.62, "extraction_method": "diagnostic_signal_sentence", "review_status": "unreviewed", "observation_id": "cr-2012-219-obs-0061" }, { "text": "However, total own sources of revenue in Philippines at 0.8 percent of GDP is one of the lowest in the region.", "verbatim": "However, total own sources of revenue in Philippines at 0.8 percent of GDP is one of the lowest in the region.", "topic": "Emil M. Sunley, Selcuk Caner, Richard Krever, and Oana Luca June 2012", "severity": null, "evidence": [ { "evidence_id": "ev-7ba030a632f553c8", "page": 49, "quote": "However, total own sources of revenue in Philippines at 0.8 percent of GDP is one of the lowest in the region.", "source": "document" } ], "confidence": 0.62, "extraction_method": "diagnostic_signal_sentence", "review_status": "unreviewed", "observation_id": "cr-2012-219-obs-0062" }, { "text": "In order to increase investment in mining and government revenues from mining, LGUs’ revenue sharing system has to be improved.", "verbatim": "In order to increase investment in mining and government revenues from mining, LGUs’ revenue sharing system has to be improved.", "topic": "Emil M. Sunley, Selcuk Caner, Richard Krever, and Oana Luca June 2012", "severity": null, "evidence": [ { "evidence_id": "ev-f3e3d70ab07dcf44", "page": 49, "quote": "In order to increase investment in mining and government revenues from mining, LGUs’ revenue sharing system has to be improved.", "source": "document" } ], "confidence": 0.62, "extraction_method": "diagnostic_signal_sentence", "review_status": "unreviewed", "observation_id": "cr-2012-219-obs-0063" }, { "text": "The current allocation of revenues can be significantly improved by a combination of legislative and administrative measures.", "verbatim": "The current allocation of revenues can be significantly improved by a combination of legislative and administrative measures.", "topic": "Emil M. Sunley, Selcuk Caner, Richard Krever, and Oana Luca June 2012", "severity": null, "evidence": [ { "evidence_id": "ev-c2d1a1a7048f5173", "page": 49, "quote": "The current allocation of revenues can be significantly improved by a combination of legislative and administrative measures.", "source": "document" } ], "confidence": 0.62, "extraction_method": "diagnostic_signal_sentence", "review_status": "unreviewed", "observation_id": "cr-2012-219-obs-0064" }, { "text": "However, a portion of the local royalty and other production-based taxes would be credited against the mining companies’ additional government share.", "verbatim": "However, a portion of the local royalty and other production-based taxes would be credited against the mining companies’ additional government share.", "topic": "Emil M. Sunley, Selcuk Caner, Richard Krever, and Oana Luca June 2012", "severity": null, "evidence": [ { "evidence_id": "ev-cd5f47b2023235b3", "page": 50, "quote": "However, a portion of the local royalty and other production-based taxes would be credited against the mining companies’ additional government share.", "source": "document" } ], "confidence": 0.62, "extraction_method": "diagnostic_signal_sentence", "review_status": "unreviewed", "observation_id": "cr-2012-219-obs-0065" }, { "text": "However, it did not facilitate the release of funds.", "verbatim": "However, it did not facilitate the release of funds.", "topic": "Emil M. Sunley, Selcuk Caner, Richard Krever, and Oana Luca June 2012", "severity": null, "evidence": [ { "evidence_id": "ev-9abadb668189a1c3", "page": 50, "quote": "However, it did not facilitate the release of funds.", "source": "document" } ], "confidence": 0.62, "extraction_method": "diagnostic_signal_sentence", "review_status": "unreviewed", "observation_id": "cr-2012-219-obs-0066" }, { "text": "This would reduce the burden of production-based taxes on mining companies and make the Philippine mining regime more progressive, compared to current law.", "verbatim": "This would reduce the burden of production-based taxes on mining companies and make the Philippine mining regime more progressive, compared to current law.", "topic": "Emil M. Sunley, Selcuk Caner, Richard Krever, and Oana Luca June 2012", "severity": null, "evidence": [ { "evidence_id": "ev-2ef48bcfed90594c", "page": 50, "quote": "This would reduce the burden of production-based taxes on mining companies and make the Philippine mining regime more progressive, compared to current law.", "source": "document" } ], "confidence": 0.62, "extraction_method": "diagnostic_signal_sentence", "review_status": "unreviewed", "observation_id": "cr-2012-219-obs-0067" }, { "text": "Many countries with production sharing fiscal regimes do not have an explicit royalty .", "verbatim": "Many countries with production sharing fiscal regimes do not have an explicit royalty .", "topic": "Emil M. Sunley, Selcuk Caner, Richard Krever, and Oana Luca June 2012", "severity": null, "evidence": [ { "evidence_id": "ev-1e1cbd7336cbb4dd", "page": 52, "quote": "Many countries with production sharing fiscal regimes do not have an explicit royalty .", "source": "document" } ], "confidence": 0.62, "extraction_method": "diagnostic_signal_sentence", "review_status": "unreviewed", "observation_id": "cr-2012-219-obs-0068" }, { "text": "The fiscal regime does not need a major overhaul.", "verbatim": "The fiscal regime does not need a major overhaul.", "topic": "Emil M. Sunley, Selcuk Caner, Richard Krever, and Oana Luca June 2012", "severity": null, "evidence": [ { "evidence_id": "ev-319dda2395c8b163", "page": 52, "quote": "The fiscal regime does not need a major overhaul.", "source": "document" } ], "confidence": 0.62, "extraction_method": "diagnostic_signal_sentence", "review_status": "unreviewed", "observation_id": "cr-2012-219-obs-0069" }, { "text": "With operating expenses limited to 70 percent of gross proceeds and 60/40 sharing of net proceeds, the government receives 18 percent of gross income (0.6*(100-70)), as soon as production commences, assuming no foreign participation and 13.5 percent of gross income (0.6*(100-7.5-70)), if the project qualifies for", "verbatim": "With operating expenses limited to 70 percent of gross proceeds and 60/40 sharing of net proceeds, the government receives 18 percent of gross income (0.6*(100-70)), as soon as production commences, assuming no foreign participation and 13.5 percent of gross income (0.6*(100-7.5-70)), if the project qualifies for", "topic": "Emil M. Sunley, Selcuk Caner, Richard Krever, and Oana Luca June 2012", "severity": null, "evidence": [ { "evidence_id": "ev-c985ee809f4ec179", "page": 52, "quote": "With operating expenses limited to 70 percent of gross proceeds and 60/40 sharing of net proceeds, the government receives 18 percent of gross income (0.6*(100-70)), as soon as production commences, assuming no foreign participation and 13.5 percent of gross income (0.6*(100-7.5-70)), if the project qualifies for", "source": "document" } ], "confidence": 0.62, "extraction_method": "diagnostic_signal_sentence", "review_status": "unreviewed", "observation_id": "cr-2012-219-obs-0070" }, { "text": "[65] However, under the NIRC, locally extracted natural gas and liquefied natural gas are exempt from the 3 percent excise on indigenous petroleum (section 151(A)(2)), but crude oil is not exempt.", "verbatim": "[65] However, under the NIRC, locally extracted natural gas and liquefied natural gas are exempt from the 3 percent excise on indigenous petroleum (section 151(A)(2)), but crude oil is not exempt.", "topic": "Emil M. Sunley, Selcuk Caner, Richard Krever, and Oana Luca June 2012", "severity": null, "evidence": [ { "evidence_id": "ev-6ca05696dfc8a34e", "page": 52, "quote": "[65] However, under the NIRC, locally extracted natural gas and liquefied natural gas are exempt from the 3 percent excise on indigenous petroleum (section 151(A)(2)), but crude oil is not exempt.", "source": "document" } ], "confidence": 0.62, "extraction_method": "diagnostic_signal_sentence", "review_status": "unreviewed", "observation_id": "cr-2012-219-obs-0071" }, { "text": "The model contract, however, has an expansive definition of operating expenses in that two-thirds of interest and financing charges for development and production operations are treated as an allowable operating expense (section 2.45 of the model).", "verbatim": "The model contract, however, has an expansive definition of operating expenses in that two-thirds of interest and financing charges for development and production operations are treated as an allowable operating expense (section 2.45 of the model).", "topic": "Emil M. Sunley, Selcuk Caner, Richard Krever, and Oana Luca June 2012", "severity": null, "evidence": [ { "evidence_id": "ev-cf36073fc81dd802", "page": 53, "quote": "The model contract, however, has an expansive definition of operating expenses in that two-thirds of interest and financing charges for development and production operations are treated as an allowable operating expense (section 2.45 of the model).", "source": "document" } ], "confidence": 0.62, "extraction_method": "diagnostic_signal_sentence", "review_status": "unreviewed", "observation_id": "cr-2012-219-obs-0072" }, { "text": "[69] This subsidy for Filipino participation lacks transparency and it very likely does not provide much benefit for the Filipino participants.", "verbatim": "[69] This subsidy for Filipino participation lacks transparency and it very likely does not provide much benefit for the Filipino participants.", "topic": "Emil M. Sunley, Selcuk Caner, Richard Krever, and Oana Luca June 2012", "severity": null, "evidence": [ { "evidence_id": "ev-1f8a94e103bc4030", "page": 53, "quote": "[69] This subsidy for Filipino participation lacks transparency and it very likely does not provide much benefit for the Filipino participants.", "source": "document" } ], "confidence": 0.62, "extraction_method": "diagnostic_signal_sentence", "review_status": "unreviewed", "observation_id": "cr-2012-219-obs-0073" }, { "text": "The sharing is not progressive with respect to increases in oil prices or profitability.", "verbatim": "The sharing is not progressive with respect to increases in oil prices or profitability.", "topic": "Emil M. Sunley, Selcuk Caner, Richard Krever, and Oana Luca June 2012", "severity": null, "evidence": [ { "evidence_id": "ev-e51acc53c87f486a", "page": 54, "quote": "The sharing is not progressive with respect to increases in oil prices or profitability.", "source": "document" } ], "confidence": 0.62, "extraction_method": "diagnostic_signal_sentence", "review_status": "unreviewed", "observation_id": "cr-2012-219-obs-0074" }, { "text": "72 If the income tax rate were increased, for example, the government share of net proceeds does not change; just the portion of the government’s share that is considered “income tax” changes.", "verbatim": "72 If the income tax rate were increased, for example, the government share of net proceeds does not change; just the portion of the government’s share that is considered “income tax” changes.", "topic": "Emil M. Sunley, Selcuk Caner, Richard Krever, and Oana Luca June 2012", "severity": null, "evidence": [ { "evidence_id": "ev-b63a9f57217cc012", "page": 55, "quote": "72 If the income tax rate were increased, for example, the government share of net proceeds does not change; just the portion of the government’s share that is considered “income tax” changes.", "source": "document" } ], "confidence": 0.62, "extraction_method": "diagnostic_signal_sentence", "review_status": "unreviewed", "observation_id": "cr-2012-219-obs-0075" }, { "text": "73 If the government subsequently overrode a contract by administrative or legislative changes, the petroleum company’s recourse might therefore be limited to pursuit of a civil action in the courts.", "verbatim": "73 If the government subsequently overrode a contract by administrative or legislative changes, the petroleum company’s recourse might therefore be limited to pursuit of a civil action in the courts.", "topic": "Emil M. Sunley, Selcuk Caner, Richard Krever, and Oana Luca June 2012", "severity": null, "evidence": [ { "evidence_id": "ev-3fe2e0a396b00ce2", "page": 55, "quote": "73 If the government subsequently overrode a contract by administrative or legislative changes, the petroleum company’s recourse might therefore be limited to pursuit of a civil action in the courts.", "source": "document" } ], "confidence": 0.62, "extraction_method": "diagnostic_signal_sentence", "review_status": "unreviewed", "observation_id": "cr-2012-219-obs-0076" }, { "text": "Although the broad assurance of stabilization overrides current law, there does not appear to be any legislated authority for the government to grant fiscal stability by a contract, which does not have the force of law.", "verbatim": "Although the broad assurance of stabilization overrides current law, there does not appear to be any legislated authority for the government to grant fiscal stability by a contract, which does not have the force of law.", "topic": "Emil M. Sunley, Selcuk Caner, Richard Krever, and Oana Luca June 2012", "severity": null, "evidence": [ { "evidence_id": "ev-ce8afcdb231c7a7d", "page": 55, "quote": "Although the broad assurance of stabilization overrides current law, there does not appear to be any legislated authority for the government to grant fiscal stability by a contract, which does not have the force of law.", "source": "document" } ], "confidence": 0.62, "extraction_method": "diagnostic_signal_sentence", "review_status": "unreviewed", "observation_id": "cr-2012-219-obs-0077" }, { "text": "[72] Second, the administration of the fiscal regime is simplified, as BIR has only a limited role.", "verbatim": "[72] Second, the administration of the fiscal regime is simplified, as BIR has only a limited role.", "topic": "Emil M. Sunley, Selcuk Caner, Richard Krever, and Oana Luca June 2012", "severity": null, "evidence": [ { "evidence_id": "ev-8c9e7c2cd25f0ae5", "page": 55, "quote": "[72] Second, the administration of the fiscal regime is simplified, as BIR has only a limited role.", "source": "document" } ], "confidence": 0.62, "extraction_method": "diagnostic_signal_sentence", "review_status": "unreviewed", "observation_id": "cr-2012-219-obs-0078" }, { "text": "Adopt profit-based sharing of net proceeds to increase the progressivity of the petroleum fiscal regime", "verbatim": "Adopt profit-based sharing of net proceeds to increase the progressivity of the petroleum fiscal regime", "topic": "Emil M. Sunley, Selcuk Caner, Richard Krever, and Oana Luca June 2012", "severity": null, "evidence": [ { "evidence_id": "ev-1dc75e7f86de0f2b", "page": 56, "quote": "Adopt profit-based sharing of net proceeds to increase the progressivity of the petroleum fiscal regime", "source": "document" } ], "confidence": 0.62, "extraction_method": "diagnostic_signal_sentence", "review_status": "unreviewed", "observation_id": "cr-2012-219-obs-0079" }, { "text": "These clauses are generally justified by: (1) the large size and the sunken nature of the initial investment; (2) a long period required to recover investment and earn a reasonable return; and (3) a lack of credibility on behalf of the host country to abstain from changing the fiscal rules—possibly singling out high rent petroleum or mining operations—once the investment is sunk.", "verbatim": "These clauses are generally justified by: (1) the large size and the sunken nature of the initial investment; (2) a long period required to recover investment and earn a reasonable return; and (3) a lack of credibility on behalf of the host country to abstain from changing the fiscal rules—possibly singling out high rent petroleum or mining operations—once the investment is sunk.", "topic": "Emil M. Sunley, Selcuk Caner, Richard Krever, and Oana Luca June 2012", "severity": null, "evidence": [ { "evidence_id": "ev-fe67ce1fa7103cb7", "page": 56, "quote": "These clauses are generally justified by: (1) the large size and the sunken nature of the initial investment; (2) a long period required to recover investment and earn a reasonable return; and (3) a lack of credibility on behalf of the host country to abstain from changing the fiscal rules—possibly singling out high rent petroleum or mining operations—once the investment is sunk.", "source": "document" } ], "confidence": 0.62, "extraction_method": "diagnostic_signal_sentence", "review_status": "unreviewed", "observation_id": "cr-2012-219-obs-0080" } ], "recommendations": [ { "text": "Going forward, a modified version of the FTAA regime should be the only regime available for future large mining projects, as over-restricting foreign investment in the mining sector has likely held back investments in the mining sector.", "verbatim": "Going forward, a modified version of the FTAA regime should be the only regime available for future large mining projects, as over-restricting foreign investment in the mining sector has likely held back investments in the mining sector.", "actor": null, "priority": null, "timeframe": null, "report_paragraph": null, "section": "Emil M. Sunley, Selcuk Caner, Richard Krever, and Oana Luca June 2012", "evidence": [ { "evidence_id": "ev-7ecd4be6d4e05eb1", "page": 7, "quote": "Going forward, a modified version of the FTAA regime should be the only regime available for future large mining projects, as over-restricting foreign investment in the mining sector has likely held back investments in the mining sector.", "source": "document" } ], "confidence": 0.65, "extraction_method": "explicit_recommendation_modal", "review_status": "unreviewed", "recommendation_type": "normative_modal_candidate", "explicitness": "implicit_candidate", "confidence_tier": "medium", "in_conservative_set": false, "recommendation_id": "cr-2012-219-rec-0001" }, { "text": "First, the BOI and Mining Act tax incentives should be repealed.", "verbatim": "First, the BOI and Mining Act tax incentives should be repealed.", "actor": null, "priority": null, "timeframe": null, "report_paragraph": null, "section": "Emil M. Sunley, Selcuk Caner, Richard Krever, and Oana Luca June 2012", "evidence": [ { "evidence_id": "ev-75bc04f8e72a2988", "page": 8, "quote": "First, the BOI and Mining Act tax incentives should be repealed.", "source": "document" } ], "confidence": 0.65, "extraction_method": "explicit_recommendation_modal", "review_status": "unreviewed", "recommendation_type": "normative_modal_candidate", "explicitness": "implicit_candidate", "confidence_tier": "medium", "in_conservative_set": false, "recommendation_id": "cr-2012-219-rec-0002" }, { "text": "Fourth, a thin capitalization rule should be adopted to limit the excessive use of debt.", "verbatim": "Fourth, a thin capitalization rule should be adopted to limit the excessive use of debt.", "actor": null, "priority": null, "timeframe": null, "report_paragraph": null, "section": "Emil M. Sunley, Selcuk Caner, Richard Krever, and Oana Luca June 2012", "evidence": [ { "evidence_id": "ev-d2201bdf150ac220", "page": 8, "quote": "Fourth, a thin capitalization rule should be adopted to limit the excessive use of debt.", "source": "document" } ], "confidence": 0.65, "extraction_method": "explicit_recommendation_modal", "review_status": "unreviewed", "recommendation_type": "normative_modal_candidate", "explicitness": "implicit_candidate", "confidence_tier": "medium", "in_conservative_set": false, "recommendation_id": "cr-2012-219-rec-0003" }, { "text": "Second, all domestic tax rules should be consolidated in the NIRC, including the royalty, and all income tax measures affecting mining should be consolidated in a separate chapter of the income tax.", "verbatim": "Second, all domestic tax rules should be consolidated in the NIRC, including the royalty, and all income tax measures affecting mining should be consolidated in a separate chapter of the income tax.", "actor": null, "priority": null, "timeframe": null, "report_paragraph": null, "section": "Emil M. Sunley, Selcuk Caner, Richard Krever, and Oana Luca June 2012", "evidence": [ { "evidence_id": "ev-996c5c2ce138e75f", "page": 8, "quote": "Second, all domestic tax rules should be consolidated in the NIRC, including the royalty, and all income tax measures affecting mining should be consolidated in a separate chapter of the income tax.", "source": "document" } ], "confidence": 0.65, "extraction_method": "explicit_recommendation_modal", "review_status": "unreviewed", "recommendation_type": "normative_modal_candidate", "explicitness": "implicit_candidate", "confidence_tier": "medium", "in_conservative_set": false, "recommendation_id": "cr-2012-219-rec-0004" }, { "text": "The 5 percent royalty and the 2 percent excise on mineral production should be combined into a single royalty that applies to mines inside and out of mineral reservations, with the combined royalty to be collected by the Bureau of Internal Revenue.", "verbatim": "The 5 percent royalty and the 2 percent excise on mineral production should be combined into a single royalty that applies to mines inside and out of mineral reservations, with the combined royalty to be collected by the Bureau of Internal Revenue.", "actor": null, "priority": null, "timeframe": null, "report_paragraph": null, "section": "Emil M. Sunley, Selcuk Caner, Richard Krever, and Oana Luca June 2012", "evidence": [ { "evidence_id": "ev-32aa6532310c70d1", "page": 8, "quote": "The 5 percent royalty and the 2 percent excise on mineral production should be combined into a single royalty that applies to mines inside and out of mineral reservations, with the combined royalty to be collected by the Bureau of Internal Revenue.", "source": "document" } ], "confidence": 0.65, "extraction_method": "explicit_recommendation_modal", "review_status": "unreviewed", "recommendation_type": "normative_modal_candidate", "explicitness": "implicit_candidate", "confidence_tier": "medium", "in_conservative_set": false, "recommendation_id": "cr-2012-219-rec-0005" }, { "text": "The mission would recommend that for the next bid round, the government should consider replacing the 60/40 sharing of net proceeds with profit-based sharing under which the government share would increase as profitability increases.", "verbatim": "The mission would recommend that for the next bid round, the government should consider replacing the 60/40 sharing of net proceeds with profit-based sharing under which the government share would increase as profitability increases.", "actor": null, "priority": null, "timeframe": null, "report_paragraph": null, "section": "Emil M. Sunley, Selcuk Caner, Richard Krever, and Oana Luca June 2012", "evidence": [ { "evidence_id": "ev-cd6c77b0de9fa1f9", "page": 8, "quote": "The mission would recommend that for the next bid round, the government should consider replacing the 60/40 sharing of net proceeds with profit-based sharing under which the government share would increase as profitability increases.", "source": "document" } ], "confidence": 0.65, "extraction_method": "explicit_recommendation_modal", "review_status": "unreviewed", "recommendation_type": "normative_modal_candidate", "explicitness": "implicit_candidate", "confidence_tier": "medium", "in_conservative_set": false, "recommendation_id": "cr-2012-219-rec-0006" }, { "text": "Third, to foster sound environmental practices, mining companies should be allowed to deduct deposits to an approved mine rehabilitation fund.", "verbatim": "Third, to foster sound environmental practices, mining companies should be allowed to deduct deposits to an approved mine rehabilitation fund.", "actor": null, "priority": null, "timeframe": null, "report_paragraph": null, "section": "Emil M. Sunley, Selcuk Caner, Richard Krever, and Oana Luca June 2012", "evidence": [ { "evidence_id": "ev-bd5e4ca7d6b805bc", "page": 8, "quote": "Third, to foster sound environmental practices, mining companies should be allowed to deduct deposits to an approved mine rehabilitation fund.", "source": "document" } ], "confidence": 0.65, "extraction_method": "explicit_recommendation_modal", "review_status": "unreviewed", "recommendation_type": "normative_modal_candidate", "explicitness": "implicit_candidate", "confidence_tier": "medium", "in_conservative_set": false, "recommendation_id": "cr-2012-219-rec-0007" }, { "text": "To improve the procedures for transferring funds under this program and to foster local support for large-scale mining, Congress should enact a continuous appropriation for the distribution of the LGUs share, and payments should be made to LGUs based on estimated amounts with adjustments when final amounts are known.", "verbatim": "To improve the procedures for transferring funds under this program and to foster local support for large-scale mining, Congress should enact a continuous appropriation for the distribution of the LGUs share, and payments should be made to LGUs based on estimated amounts with adjustments when final amounts are known.", "actor": null, "priority": null, "timeframe": null, "report_paragraph": null, "section": "Emil M. Sunley, Selcuk Caner, Richard Krever, and Oana Luca June 2012", "evidence": [ { "evidence_id": "ev-056d4fbd983ea82f", "page": 8, "quote": "To improve the procedures for transferring funds under this program and to foster local support for large-scale mining, Congress should enact a continuous appropriation for the distribution of the LGUs share, and payments should be made to LGUs based on estimated amounts with adjustments when final amounts are known.", "source": "document" } ], "confidence": 0.65, "extraction_method": "explicit_recommendation_modal", "review_status": "unreviewed", "recommendation_type": "normative_modal_candidate", "explicitness": "implicit_candidate", "confidence_tier": "medium", "in_conservative_set": false, "recommendation_id": "cr-2012-219-rec-0008" }, { "text": "The 2011 mission undertook a preliminary assessment of the fiscal regime for mining and recommended that a future FAD mission compare the current fiscal regime with alternative regimes .", "verbatim": "The 2011 mission undertook a preliminary assessment of the fiscal regime for mining and recommended that a future FAD mission compare the current fiscal regime with alternative regimes .", "actor": null, "priority": null, "timeframe": null, "report_paragraph": null, "section": "Emil M. Sunley, Selcuk Caner, Richard Krever, and Oana Luca June 2012", "evidence": [ { "evidence_id": "ev-c0ca2c00f9e116a5", "page": 9, "quote": "The 2011 mission undertook a preliminary assessment of the fiscal regime for mining and recommended that a future FAD mission compare the current fiscal regime with alternative regimes .", "source": "document" } ], "confidence": 0.65, "extraction_method": "explicit_recommendation_modal", "review_status": "unreviewed", "recommendation_type": "normative_modal_candidate", "explicitness": "implicit_candidate", "confidence_tier": "medium", "in_conservative_set": false, "recommendation_id": "cr-2012-219-rec-0009" }, { "text": "Or, Should It ?” National Statistics Coordination Board, 2012.", "verbatim": "Or, Should It ?” National Statistics Coordination Board, 2012.", "actor": null, "priority": null, "timeframe": null, "report_paragraph": null, "section": "Emil M. Sunley, Selcuk Caner, Richard Krever, and Oana Luca June 2012", "evidence": [ { "evidence_id": "ev-025e863879b5fc5e", "page": 10, "quote": "Or, Should It ?” National Statistics Coordination Board, 2012.", "source": "document" } ], "confidence": 0.65, "extraction_method": "explicit_recommendation_modal", "review_status": "unreviewed", "recommendation_type": "normative_modal_candidate", "explicitness": "implicit_candidate", "confidence_tier": "medium", "in_conservative_set": false, "recommendation_id": "cr-2012-219-rec-0010" }, { "text": "7 Total taxes include VAT, which should be refunded, as most mineral output is exported.", "verbatim": "7 Total taxes include VAT, which should be refunded, as most mineral output is exported.", "actor": null, "priority": null, "timeframe": null, "report_paragraph": null, "section": "Emil M. Sunley, Selcuk Caner, Richard Krever, and Oana Luca June 2012", "evidence": [ { "evidence_id": "ev-c6c8cfd9cb0bcd76", "page": 11, "quote": "7 Total taxes include VAT, which should be refunded, as most mineral output is exported.", "source": "document" } ], "confidence": 0.65, "extraction_method": "explicit_recommendation_modal", "review_status": "unreviewed", "recommendation_type": "normative_modal_candidate", "explicitness": "implicit_candidate", "confidence_tier": "medium", "in_conservative_set": false, "recommendation_id": "cr-2012-219-rec-0011" }, { "text": "Moreover, as a good fiscal practice, governments should not include projections of future mining revenue in government fiscal projections until the project has reached the development stage.", "verbatim": "Moreover, as a good fiscal practice, governments should not include projections of future mining revenue in government fiscal projections until the project has reached the development stage.", "actor": null, "priority": null, "timeframe": null, "report_paragraph": null, "section": "Emil M. Sunley, Selcuk Caner, Richard Krever, and Oana Luca June 2012", "evidence": [ { "evidence_id": "ev-11f4d01709455e66", "page": 13, "quote": "Moreover, as a good fiscal practice, governments should not include projections of future mining revenue in government fiscal projections until the project has reached the development stage.", "source": "document" } ], "confidence": 0.65, "extraction_method": "explicit_recommendation_modal", "review_status": "unreviewed", "recommendation_type": "normative_modal_candidate", "explicitness": "implicit_candidate", "confidence_tier": "medium", "in_conservative_set": false, "recommendation_id": "cr-2012-219-rec-0012" }, { "text": "To achieve Compliant Status, a country must complete an EITI Validation within two and a half years of becoming a Candidate Country.", "verbatim": "To achieve Compliant Status, a country must complete an EITI Validation within two and a half years of becoming a Candidate Country.", "actor": null, "priority": null, "timeframe": null, "report_paragraph": null, "section": "Emil M. Sunley, Selcuk Caner, Richard Krever, and Oana Luca June 2012", "evidence": [ { "evidence_id": "ev-1a4efa30121fd747", "page": 15, "quote": "To achieve Compliant Status, a country must complete an EITI Validation within two and a half years of becoming a Candidate Country.", "source": "document" } ], "confidence": 0.65, "extraction_method": "explicit_recommendation_modal", "review_status": "unreviewed", "recommendation_type": "normative_modal_candidate", "explicitness": "implicit_candidate", "confidence_tier": "medium", "in_conservative_set": false, "recommendation_id": "cr-2012-219-rec-0013" }, { "text": "At the same time, but beyond the scope of this mission’s work, Philippines needs to protect indigenous communities’ rights, and through laws, regulations, and enforcement, safeguard the environment.", "verbatim": "At the same time, but beyond the scope of this mission’s work, Philippines needs to protect indigenous communities’ rights, and through laws, regulations, and enforcement, safeguard the environment.", "actor": null, "priority": null, "timeframe": null, "report_paragraph": null, "section": "Emil M. Sunley, Selcuk Caner, Richard Krever, and Oana Luca June 2012", "evidence": [ { "evidence_id": "ev-9307dc235c26e26f", "page": 16, "quote": "At the same time, but beyond the scope of this mission’s work, Philippines needs to protect indigenous communities’ rights, and through laws, regulations, and enforcement, safeguard the environment.", "source": "document" } ], "confidence": 0.65, "extraction_method": "explicit_recommendation_modal", "review_status": "unreviewed", "recommendation_type": "normative_modal_candidate", "explicitness": "implicit_candidate", "confidence_tier": "medium", "in_conservative_set": false, "recommendation_id": "cr-2012-219-rec-0014" }, { "text": "In order to convert them into financial resources, Philippines must attract investment, both domestic and foreign, on terms that ensure Philippines gets the greatest possible value for its resources—in the context of uncertainty about what the value of the resources will eventually turn out to be.", "verbatim": "In order to convert them into financial resources, Philippines must attract investment, both domestic and foreign, on terms that ensure Philippines gets the greatest possible value for its resources—in the context of uncertainty about what the value of the resources will eventually turn out to be.", "actor": null, "priority": null, "timeframe": null, "report_paragraph": null, "section": "Emil M. Sunley, Selcuk Caner, Richard Krever, and Oana Luca June 2012", "evidence": [ { "evidence_id": "ev-184c72115dfe4c06", "page": 16, "quote": "In order to convert them into financial resources, Philippines must attract investment, both domestic and foreign, on terms that ensure Philippines gets the greatest possible value for its resources—in the context of uncertainty about what the value of the resources will eventually turn out to be.", "source": "document" } ], "confidence": 0.65, "extraction_method": "explicit_recommendation_modal", "review_status": "unreviewed", "recommendation_type": "normative_modal_candidate", "explicitness": "implicit_candidate", "confidence_tier": "medium", "in_conservative_set": false, "recommendation_id": "cr-2012-219-rec-0015" }, { "text": "Once mineral resources are developed and sold, there is a need to balance the rights of the national and local governments for equitable shares of revenues.", "verbatim": "Once mineral resources are developed and sold, there is a need to balance the rights of the national and local governments for equitable shares of revenues.", "actor": null, "priority": null, "timeframe": null, "report_paragraph": null, "section": "Emil M. Sunley, Selcuk Caner, Richard Krever, and Oana Luca June 2012", "evidence": [ { "evidence_id": "ev-415a8b2d73f6ca69", "page": 16, "quote": "Once mineral resources are developed and sold, there is a need to balance the rights of the national and local governments for equitable shares of revenues.", "source": "document" } ], "confidence": 0.65, "extraction_method": "explicit_recommendation_modal", "review_status": "unreviewed", "recommendation_type": "normative_modal_candidate", "explicitness": "implicit_candidate", "confidence_tier": "medium", "in_conservative_set": false, "recommendation_id": "cr-2012-219-rec-0016" }, { "text": "Philippines should adopt a fiscal regime for the mining sector that is simple, predictable, and transparent.", "verbatim": "Philippines should adopt a fiscal regime for the mining sector that is simple, predictable, and transparent.", "actor": null, "priority": null, "timeframe": null, "report_paragraph": null, "section": "Emil M. Sunley, Selcuk Caner, Richard Krever, and Oana Luca June 2012", "evidence": [ { "evidence_id": "ev-9bd41a2708d12488", "page": 16, "quote": "Philippines should adopt a fiscal regime for the mining sector that is simple, predictable, and transparent.", "source": "document" } ], "confidence": 0.65, "extraction_method": "explicit_recommendation_modal", "review_status": "unreviewed", "recommendation_type": "normative_modal_candidate", "explicitness": "implicit_candidate", "confidence_tier": "medium", "in_conservative_set": false, "recommendation_id": "cr-2012-219-rec-0017" }, { "text": "This regime should ensure a fair distribution between mining companies and the government of the economic benefits from mining with fiscal rules that are complemented by an efficient and transparent tax administration.", "verbatim": "This regime should ensure a fair distribution between mining companies and the government of the economic benefits from mining with fiscal rules that are complemented by an efficient and transparent tax administration.", "actor": null, "priority": null, "timeframe": null, "report_paragraph": null, "section": "Emil M. Sunley, Selcuk Caner, Richard Krever, and Oana Luca June 2012", "evidence": [ { "evidence_id": "ev-9a77b714eb36ecea", "page": 16, "quote": "This regime should ensure a fair distribution between mining companies and the government of the economic benefits from mining with fiscal rules that are complemented by an efficient and transparent tax administration.", "source": "document" } ], "confidence": 0.65, "extraction_method": "explicit_recommendation_modal", "review_status": "unreviewed", "recommendation_type": "normative_modal_candidate", "explicitness": "implicit_candidate", "confidence_tier": "medium", "in_conservative_set": false, "recommendation_id": "cr-2012-219-rec-0018" }, { "text": "As only the FTAA regime allows full foreign ownership and foreign investment will be critical to the growth and development of the mining sector, a modified version of the FTAA regime should be the only regime available for future large mining projects, whether foreign owned or operated by a local mining firm.", "verbatim": "As only the FTAA regime allows full foreign ownership and foreign investment will be critical to the growth and development of the mining sector, a modified version of the FTAA regime should be the only regime available for future large mining projects, whether foreign owned or operated by a local mining firm.", "actor": null, "priority": "critical", "timeframe": null, "report_paragraph": null, "section": "Emil M. Sunley, Selcuk Caner, Richard Krever, and Oana Luca June 2012", "evidence": [ { "evidence_id": "ev-a0806ced44a6b4cb", "page": 17, "quote": "As only the FTAA regime allows full foreign ownership and foreign investment will be critical to the growth and development of the mining sector, a modified version of the FTAA regime should be the only regime available for future large mining projects, whether foreign owned or operated by a local mining firm.", "source": "document" } ], "confidence": 0.65, "extraction_method": "explicit_recommendation_modal", "review_status": "unreviewed", "recommendation_type": "normative_modal_candidate", "explicitness": "implicit_candidate", "confidence_tier": "medium", "in_conservative_set": false, "recommendation_id": "cr-2012-219-rec-0019" }, { "text": "Effective reform of the mining fiscal regime must establish mineral exploitation and fiscal systems appropriate for the Philippine nation’s needs, achieving in particular three goals:", "verbatim": "Effective reform of the mining fiscal regime must establish mineral exploitation and fiscal systems appropriate for the Philippine nation’s needs, achieving in particular three goals:", "actor": null, "priority": null, "timeframe": null, "report_paragraph": null, "section": "Emil M. Sunley, Selcuk Caner, Richard Krever, and Oana Luca June 2012", "evidence": [ { "evidence_id": "ev-4274898c6a321734", "page": 17, "quote": "Effective reform of the mining fiscal regime must establish mineral exploitation and fiscal systems appropriate for the Philippine nation’s needs, achieving in particular three goals:", "source": "document" } ], "confidence": 0.65, "extraction_method": "explicit_recommendation_modal", "review_status": "unreviewed", "recommendation_type": "normative_modal_candidate", "explicitness": "implicit_candidate", "confidence_tier": "medium", "in_conservative_set": false, "recommendation_id": "cr-2012-219-rec-0020" }, { "text": "These figures suggest that the strategy for reform should be to modify the FTAA regime, to increase government revenue in the early years, lower the AETR for the marginal, low-profit project, and to make the fiscal regime competitive with the fiscal regimes offered by other countries.", "verbatim": "These figures suggest that the strategy for reform should be to modify the FTAA regime, to increase government revenue in the early years, lower the AETR for the marginal, low-profit project, and to make the fiscal regime competitive with the fiscal regimes offered by other countries.", "actor": null, "priority": "low", "timeframe": null, "report_paragraph": null, "section": "Emil M. Sunley, Selcuk Caner, Richard Krever, and Oana Luca June 2012", "evidence": [ { "evidence_id": "ev-86393e333175ab4d", "page": 18, "quote": "These figures suggest that the strategy for reform should be to modify the FTAA regime, to increase government revenue in the early years, lower the AETR for the marginal, low-profit project, and to make the fiscal regime competitive with the fiscal regimes offered by other countries.", "source": "document" } ], "confidence": 0.65, "extraction_method": "explicit_recommendation_modal", "review_status": "unreviewed", "recommendation_type": "normative_modal_candidate", "explicitness": "implicit_candidate", "confidence_tier": "medium", "in_conservative_set": false, "recommendation_id": "cr-2012-219-rec-0021" }, { "text": "The government should submit legislation to Congress amending Republic Act No.", "verbatim": "The government should submit legislation to Congress amending Republic Act No.", "actor": null, "priority": null, "timeframe": null, "report_paragraph": null, "section": "Emil M. Sunley, Selcuk Caner, Richard Krever, and Oana Luca June 2012", "evidence": [ { "evidence_id": "ev-c7fc1b34c5970bc3", "page": 23, "quote": "The government should submit legislation to Congress amending Republic Act No.", "source": "document" } ], "confidence": 0.65, "extraction_method": "explicit_recommendation_modal", "review_status": "unreviewed", "recommendation_type": "normative_modal_candidate", "explicitness": "implicit_candidate", "confidence_tier": "medium", "in_conservative_set": false, "recommendation_id": "cr-2012-219-rec-0022" }, { "text": "The rate for the new royalty should be set at 7 percent.", "verbatim": "The rate for the new royalty should be set at 7 percent.", "actor": null, "priority": null, "timeframe": null, "report_paragraph": null, "section": "Emil M. Sunley, Selcuk Caner, Richard Krever, and Oana Luca June 2012", "evidence": [ { "evidence_id": "ev-6ce217253dd9579f", "page": 23, "quote": "The rate for the new royalty should be set at 7 percent.", "source": "document" } ], "confidence": 0.65, "extraction_method": "explicit_recommendation_modal", "review_status": "unreviewed", "recommendation_type": "normative_modal_candidate", "explicitness": "implicit_candidate", "confidence_tier": "medium", "in_conservative_set": false, "recommendation_id": "cr-2012-219-rec-0023" }, { "text": "The need to rationalize Philippine’s tax incentives is widely recognized and long overdue.", "verbatim": "The need to rationalize Philippine’s tax incentives is widely recognized and long overdue.", "actor": null, "priority": null, "timeframe": null, "report_paragraph": null, "section": "Emil M. Sunley, Selcuk Caner, Richard Krever, and Oana Luca June 2012", "evidence": [ { "evidence_id": "ev-3a438c257ff32995", "page": 26, "quote": "The need to rationalize Philippine’s tax incentives is widely recognized and long overdue.", "source": "document" } ], "confidence": 0.65, "extraction_method": "explicit_recommendation_modal", "review_status": "unreviewed", "recommendation_type": "normative_modal_candidate", "explicitness": "implicit_candidate", "confidence_tier": "medium", "in_conservative_set": false, "recommendation_id": "cr-2012-219-rec-0024" }, { "text": "incentives are considered appropriate for mining companies, they should be moved to the NIRC.", "verbatim": "incentives are considered appropriate for mining companies, they should be moved to the NIRC.", "actor": null, "priority": null, "timeframe": null, "report_paragraph": null, "section": "Emil M. Sunley, Selcuk Caner, Richard Krever, and Oana Luca June 2012", "evidence": [ { "evidence_id": "ev-545c012964e32366", "page": 26, "quote": "incentives are considered appropriate for mining companies, they should be moved to the NIRC.", "source": "document" } ], "confidence": 0.65, "extraction_method": "explicit_recommendation_modal", "review_status": "unreviewed", "recommendation_type": "normative_modal_candidate", "explicitness": "implicit_candidate", "confidence_tier": "medium", "in_conservative_set": false, "recommendation_id": "cr-2012-219-rec-0025" }, { "text": "There are also gaps in the income tax, relating to mining reclamation, transfers of an interest, and ring fencing that need to be addressed.", "verbatim": "There are also gaps in the income tax, relating to mining reclamation, transfers of an interest, and ring fencing that need to be addressed.", "actor": null, "priority": null, "timeframe": null, "report_paragraph": null, "section": "Emil M. Sunley, Selcuk Caner, Richard Krever, and Oana Luca June 2012", "evidence": [ { "evidence_id": "ev-dccb97c643aec179", "page": 27, "quote": "There are also gaps in the income tax, relating to mining reclamation, transfers of an interest, and ring fencing that need to be addressed.", "source": "document" } ], "confidence": 0.65, "extraction_method": "explicit_recommendation_modal", "review_status": "unreviewed", "recommendation_type": "normative_modal_candidate", "explicitness": "implicit_candidate", "confidence_tier": "medium", "in_conservative_set": false, "recommendation_id": "cr-2012-219-rec-0026" }, { "text": "This provision if retained should be moved to the NIRC.", "verbatim": "This provision if retained should be moved to the NIRC.", "actor": null, "priority": null, "timeframe": null, "report_paragraph": null, "section": "Emil M. Sunley, Selcuk Caner, Richard Krever, and Oana Luca June 2012", "evidence": [ { "evidence_id": "ev-197a3143969aaf6e", "page": 27, "quote": "This provision if retained should be moved to the NIRC.", "source": "document" } ], "confidence": 0.65, "extraction_method": "explicit_recommendation_modal", "review_status": "unreviewed", "recommendation_type": "normative_modal_candidate", "explicitness": "implicit_candidate", "confidence_tier": "medium", "in_conservative_set": false, "recommendation_id": "cr-2012-219-rec-0027" }, { "text": "[32] The carryover period for mining should be removed from the Mining Act.", "verbatim": "[32] The carryover period for mining should be removed from the Mining Act.", "actor": null, "priority": null, "timeframe": null, "report_paragraph": null, "section": "Emil M. Sunley, Selcuk Caner, Richard Krever, and Oana Luca June 2012", "evidence": [ { "evidence_id": "ev-c6d15ed40d889d90", "page": 27, "quote": "[32] The carryover period for mining should be removed from the Mining Act.", "source": "document" } ], "confidence": 0.65, "extraction_method": "explicit_recommendation_modal", "review_status": "unreviewed", "recommendation_type": "normative_modal_candidate", "explicitness": "implicit_candidate", "confidence_tier": "medium", "in_conservative_set": false, "recommendation_id": "cr-2012-219-rec-0028" }, { "text": "It is important that the income tax law should apply to this income and that Philippines retains the right to tax this income when it enters into treaties with countries from which the service providers come.", "verbatim": "It is important that the income tax law should apply to this income and that Philippines retains the right to tax this income when it enters into treaties with countries from which the service providers come.", "actor": null, "priority": null, "timeframe": null, "report_paragraph": null, "section": "Emil M. Sunley, Selcuk Caner, Richard Krever, and Oana Luca June 2012", "evidence": [ { "evidence_id": "ev-9ff51fdf5375d087", "page": 29, "quote": "It is important that the income tax law should apply to this income and that Philippines retains the right to tax this income when it enters into treaties with countries from which the service providers come.", "source": "document" } ], "confidence": 0.65, "extraction_method": "explicit_recommendation_modal", "review_status": "unreviewed", "recommendation_type": "normative_modal_candidate", "explicitness": "implicit_candidate", "confidence_tier": "medium", "in_conservative_set": false, "recommendation_id": "cr-2012-219-rec-0029" }, { "text": "However, future treaties should adopt a broad definition of real property for purposes of the capital gains article to include all direct and indirect interests in mining rights.", "verbatim": "However, future treaties should adopt a broad definition of real property for purposes of the capital gains article to include all direct and indirect interests in mining rights.", "actor": null, "priority": null, "timeframe": null, "report_paragraph": null, "section": "Emil M. Sunley, Selcuk Caner, Richard Krever, and Oana Luca June 2012", "evidence": [ { "evidence_id": "ev-2c835f9737db1efc", "page": 31, "quote": "However, future treaties should adopt a broad definition of real property for purposes of the capital gains article to include all direct and indirect interests in mining rights.", "source": "document" } ], "confidence": 0.65, "extraction_method": "explicit_recommendation_modal", "review_status": "unreviewed", "recommendation_type": "normative_modal_candidate", "explicitness": "implicit_candidate", "confidence_tier": "medium", "in_conservative_set": false, "recommendation_id": "cr-2012-219-rec-0030" }, { "text": "If there are opportunities to amend existing treaties, these should be used to address the definition of real property in existing treaties.", "verbatim": "If there are opportunities to amend existing treaties, these should be used to address the definition of real property in existing treaties.", "actor": null, "priority": null, "timeframe": null, "report_paragraph": null, "section": "Emil M. Sunley, Selcuk Caner, Richard Krever, and Oana Luca June 2012", "evidence": [ { "evidence_id": "ev-ce11646fc873df9b", "page": 31, "quote": "If there are opportunities to amend existing treaties, these should be used to address the definition of real property in existing treaties.", "source": "document" } ], "confidence": 0.65, "extraction_method": "explicit_recommendation_modal", "review_status": "unreviewed", "recommendation_type": "normative_modal_candidate", "explicitness": "implicit_candidate", "confidence_tier": "medium", "in_conservative_set": false, "recommendation_id": "cr-2012-219-rec-0031" }, { "text": "The mission would recommend that for tax purposes there should be a ring fence around the mining sector.", "verbatim": "The mission would recommend that for tax purposes there should be a ring fence around the mining sector.", "actor": null, "priority": null, "timeframe": null, "report_paragraph": null, "section": "Emil M. Sunley, Selcuk Caner, Richard Krever, and Oana Luca June 2012", "evidence": [ { "evidence_id": "ev-d0c7e83a82500bf5", "page": 32, "quote": "The mission would recommend that for tax purposes there should be a ring fence around the mining sector.", "source": "document" } ], "confidence": 0.65, "extraction_method": "explicit_recommendation_modal", "review_status": "unreviewed", "recommendation_type": "normative_modal_candidate", "explicitness": "implicit_candidate", "confidence_tier": "medium", "in_conservative_set": false, "recommendation_id": "cr-2012-219-rec-0032" }, { "text": "A key question in the design of a mining tax system is how additional profits should be shared if profits rise as a result of increases in market prices, or the discovery of an especially rich or low-cost deposit.", "verbatim": "A key question in the design of a mining tax system is how additional profits should be shared if profits rise as a result of increases in market prices, or the discovery of an especially rich or low-cost deposit.", "actor": null, "priority": "low", "timeframe": null, "report_paragraph": null, "section": "Emil M. Sunley, Selcuk Caner, Richard Krever, and Oana Luca June 2012", "evidence": [ { "evidence_id": "ev-b6893ef93c8e9cbb", "page": 34, "quote": "A key question in the design of a mining tax system is how additional profits should be shared if profits rise as a result of increases in market prices, or the discovery of an especially rich or low-cost deposit.", "source": "document" } ], "confidence": 0.65, "extraction_method": "explicit_recommendation_modal", "review_status": "unreviewed", "recommendation_type": "normative_modal_candidate", "explicitness": "implicit_candidate", "confidence_tier": "medium", "in_conservative_set": false, "recommendation_id": "cr-2012-219-rec-0033" }, { "text": "If an additional tax/surcharge is to be effective, it must be ring-fenced around the mining sector.", "verbatim": "If an additional tax/surcharge is to be effective, it must be ring-fenced around the mining sector.", "actor": null, "priority": null, "timeframe": null, "report_paragraph": null, "section": "Emil M. Sunley, Selcuk Caner, Richard Krever, and Oana Luca June 2012", "evidence": [ { "evidence_id": "ev-5108d189e9ac9afd", "page": 34, "quote": "If an additional tax/surcharge is to be effective, it must be ring-fenced around the mining sector.", "source": "document" } ], "confidence": 0.65, "extraction_method": "explicit_recommendation_modal", "review_status": "unreviewed", "recommendation_type": "normative_modal_candidate", "explicitness": "implicit_candidate", "confidence_tier": "medium", "in_conservative_set": false, "recommendation_id": "cr-2012-219-rec-0034" }, { "text": "The mining tax regime should ensure that both the mining company that has undertaken risk in investing to extract the resources and the Philippine nation which owns the resources being sold share in the profits from sale of resources.", "verbatim": "The mining tax regime should ensure that both the mining company that has undertaken risk in investing to extract the resources and the Philippine nation which owns the resources being sold share in the profits from sale of resources.", "actor": null, "priority": null, "timeframe": null, "report_paragraph": null, "section": "Emil M. Sunley, Selcuk Caner, Richard Krever, and Oana Luca June 2012", "evidence": [ { "evidence_id": "ev-603d7fde716a2ed7", "page": 34, "quote": "The mining tax regime should ensure that both the mining company that has undertaken risk in investing to extract the resources and the Philippine nation which owns the resources being sold share in the profits from sale of resources.", "source": "document" } ], "confidence": 0.65, "extraction_method": "explicit_recommendation_modal", "review_status": "unreviewed", "recommendation_type": "normative_modal_candidate", "explicitness": "implicit_candidate", "confidence_tier": "medium", "in_conservative_set": false, "recommendation_id": "cr-2012-219-rec-0035" }, { "text": "Loan amortization should not be allowed as a deduction in determining net cash flow.", "verbatim": "Loan amortization should not be allowed as a deduction in determining net cash flow.", "actor": null, "priority": null, "timeframe": null, "report_paragraph": null, "section": "Emil M. Sunley, Selcuk Caner, Richard Krever, and Oana Luca June 2012", "evidence": [ { "evidence_id": "ev-de9ef6c7a57cfd05", "page": 35, "quote": "Loan amortization should not be allowed as a deduction in determining net cash flow.", "source": "document" } ], "confidence": 0.65, "extraction_method": "explicit_recommendation_modal", "review_status": "unreviewed", "recommendation_type": "normative_modal_candidate", "explicitness": "implicit_candidate", "confidence_tier": "medium", "in_conservative_set": false, "recommendation_id": "cr-2012-219-rec-0036" }, { "text": "47 The surcharge loss carryover eliminates the need to define a recovery period, as under the current additional government share.", "verbatim": "47 The surcharge loss carryover eliminates the need to define a recovery period, as under the current additional government share.", "actor": null, "priority": null, "timeframe": null, "report_paragraph": null, "section": "Emil M. Sunley, Selcuk Caner, Richard Krever, and Oana Luca June 2012", "evidence": [ { "evidence_id": "ev-ed5341d1060f0927", "page": 36, "quote": "47 The surcharge loss carryover eliminates the need to define a recovery period, as under the current additional government share.", "source": "document" } ], "confidence": 0.65, "extraction_method": "explicit_recommendation_modal", "review_status": "unreviewed", "recommendation_type": "normative_modal_candidate", "explicitness": "implicit_candidate", "confidence_tier": "medium", "in_conservative_set": false, "recommendation_id": "cr-2012-219-rec-0037" }, { "text": "A rate at this level removes the need to specify uplift, as under the RRT.", "verbatim": "A rate at this level removes the need to specify uplift, as under the RRT.", "actor": null, "priority": null, "timeframe": null, "report_paragraph": null, "section": "Emil M. Sunley, Selcuk Caner, Richard Krever, and Oana Luca June 2012", "evidence": [ { "evidence_id": "ev-c54bd0d7105b60eb", "page": 36, "quote": "A rate at this level removes the need to specify uplift, as under the RRT.", "source": "document" } ], "confidence": 0.65, "extraction_method": "explicit_recommendation_modal", "review_status": "unreviewed", "recommendation_type": "normative_modal_candidate", "explicitness": "implicit_candidate", "confidence_tier": "medium", "in_conservative_set": false, "recommendation_id": "cr-2012-219-rec-0038" }, { "text": "In theory, the latter should be recoverable when a mining company commences production and makes zero-rated export sales of mineral output.", "verbatim": "In theory, the latter should be recoverable when a mining company commences production and makes zero-rated export sales of mineral output.", "actor": null, "priority": null, "timeframe": null, "report_paragraph": null, "section": "Emil M. Sunley, Selcuk Caner, Richard Krever, and Oana Luca June 2012", "evidence": [ { "evidence_id": "ev-a9bb001d0be0ee01", "page": 37, "quote": "In theory, the latter should be recoverable when a mining company commences production and makes zero-rated export sales of mineral output.", "source": "document" } ], "confidence": 0.65, "extraction_method": "explicit_recommendation_modal", "review_status": "unreviewed", "recommendation_type": "normative_modal_candidate", "explicitness": "implicit_candidate", "confidence_tier": "medium", "in_conservative_set": false, "recommendation_id": "cr-2012-219-rec-0039" }, { "text": "The first possible statutory solution is modification of the law to allow for refunds of VAT input tax credits within a short period after a mining company files a return, with no need to wait until zero-rated exports commence.", "verbatim": "The first possible statutory solution is modification of the law to allow for refunds of VAT input tax credits within a short period after a mining company files a return, with no need to wait until zero-rated exports commence.", "actor": null, "priority": null, "timeframe": null, "report_paragraph": null, "section": "Emil M. Sunley, Selcuk Caner, Richard Krever, and Oana Luca June 2012", "evidence": [ { "evidence_id": "ev-3413b248e56518da", "page": 37, "quote": "The first possible statutory solution is modification of the law to allow for refunds of VAT input tax credits within a short period after a mining company files a return, with no need to wait until zero-rated exports commence.", "source": "document" } ], "confidence": 0.65, "extraction_method": "explicit_recommendation_modal", "review_status": "unreviewed", "recommendation_type": "normative_modal_candidate", "explicitness": "implicit_candidate", "confidence_tier": "medium", "in_conservative_set": false, "recommendation_id": "cr-2012-219-rec-0040" }, { "text": "55 The uplift factor should reflect the normal or a minimum rate of return.", "verbatim": "55 The uplift factor should reflect the normal or a minimum rate of return.", "actor": null, "priority": null, "timeframe": null, "report_paragraph": null, "section": "Emil M. Sunley, Selcuk Caner, Richard Krever, and Oana Luca June 2012", "evidence": [ { "evidence_id": "ev-fb273bb2f16bd543", "page": 40, "quote": "55 The uplift factor should reflect the normal or a minimum rate of return.", "source": "document" } ], "confidence": 0.65, "extraction_method": "explicit_recommendation_modal", "review_status": "unreviewed", "recommendation_type": "normative_modal_candidate", "explicitness": "implicit_candidate", "confidence_tier": "medium", "in_conservative_set": false, "recommendation_id": "cr-2012-219-rec-0041" }, { "text": "One question that was not addressed by the 2012 mission is how the sharing of national revenue from the utilization and development of national wealth should be taken into account when measuring revenue capacity.", "verbatim": "One question that was not addressed by the 2012 mission is how the sharing of national revenue from the utilization and development of national wealth should be taken into account when measuring revenue capacity.", "actor": null, "priority": null, "timeframe": null, "report_paragraph": null, "section": "Emil M. Sunley, Selcuk Caner, Richard Krever, and Oana Luca June 2012", "evidence": [ { "evidence_id": "ev-06eaac61ab9cede5", "page": 46, "quote": "One question that was not addressed by the 2012 mission is how the sharing of national revenue from the utilization and development of national wealth should be taken into account when measuring revenue capacity.", "source": "document" } ], "confidence": 0.65, "extraction_method": "explicit_recommendation_modal", "review_status": "unreviewed", "recommendation_type": "normative_modal_candidate", "explicitness": "implicit_candidate", "confidence_tier": "medium", "in_conservative_set": false, "recommendation_id": "cr-2012-219-rec-0042" }, { "text": "The 2012 FAD mission advised on issues regarding the revenue sharing between the national government and LGUs and recommended that the IRA distribution formula should be amended to incorporate indicators of revenue capacity, in addition to population and land area.", "verbatim": "The 2012 FAD mission advised on issues regarding the revenue sharing between the national government and LGUs and recommended that the IRA distribution formula should be amended to incorporate indicators of revenue capacity, in addition to population and land area.", "actor": null, "priority": null, "timeframe": null, "report_paragraph": null, "section": "Emil M. Sunley, Selcuk Caner, Richard Krever, and Oana Luca June 2012", "evidence": [ { "evidence_id": "ev-d3f9422d5cea8e15", "page": 46, "quote": "The 2012 FAD mission advised on issues regarding the revenue sharing between the national government and LGUs and recommended that the IRA distribution formula should be amended to incorporate indicators of revenue capacity, in addition to population and land area.", "source": "document" } ], "confidence": 0.65, "extraction_method": "explicit_recommendation_modal", "review_status": "unreviewed", "recommendation_type": "normative_modal_candidate", "explicitness": "implicit_candidate", "confidence_tier": "medium", "in_conservative_set": false, "recommendation_id": "cr-2012-219-rec-0043" }, { "text": "The code also stipulates that national government should consult with LGUs in case of projects undertaken by state-owned enterprises with ecological consequences.", "verbatim": "The code also stipulates that national government should consult with LGUs in case of projects undertaken by state-owned enterprises with ecological consequences.", "actor": null, "priority": null, "timeframe": null, "report_paragraph": null, "section": "Emil M. Sunley, Selcuk Caner, Richard Krever, and Oana Luca June 2012", "evidence": [ { "evidence_id": "ev-c8213eed7ec019d8", "page": 46, "quote": "The code also stipulates that national government should consult with LGUs in case of projects undertaken by state-owned enterprises with ecological consequences.", "source": "document" } ], "confidence": 0.65, "extraction_method": "explicit_recommendation_modal", "review_status": "unreviewed", "recommendation_type": "normative_modal_candidate", "explicitness": "implicit_candidate", "confidence_tier": "medium", "in_conservative_set": false, "recommendation_id": "cr-2012-219-rec-0044" }, { "text": "However, contrary to the revenue sharing terms stipulated by the LGC, the transfer of funds to LGUs is delayed by as long as several years and the actual transfers are often less than the amount that should be transferred to the LGU.", "verbatim": "However, contrary to the revenue sharing terms stipulated by the LGC, the transfer of funds to LGUs is delayed by as long as several years and the actual transfers are often less than the amount that should be transferred to the LGU.", "actor": null, "priority": null, "timeframe": null, "report_paragraph": null, "section": "Emil M. Sunley, Selcuk Caner, Richard Krever, and Oana Luca June 2012", "evidence": [ { "evidence_id": "ev-2dd87f252ce81b5e", "page": 47, "quote": "However, contrary to the revenue sharing terms stipulated by the LGC, the transfer of funds to LGUs is delayed by as long as several years and the actual transfers are often less than the amount that should be transferred to the LGU.", "source": "document" } ], "confidence": 0.65, "extraction_method": "explicit_recommendation_modal", "review_status": "unreviewed", "recommendation_type": "normative_modal_candidate", "explicitness": "implicit_candidate", "confidence_tier": "medium", "in_conservative_set": false, "recommendation_id": "cr-2012-219-rec-0045" }, { "text": "However, if the IRA formula for sharing includes indicators of revenue capacity, as recommended by the 2012 mission, how should national wealth revenue be taken into account?", "verbatim": "However, if the IRA formula for sharing includes indicators of revenue capacity, as recommended by the 2012 mission, how should national wealth revenue be taken into account?", "actor": null, "priority": null, "timeframe": null, "report_paragraph": null, "section": "Emil M. Sunley, Selcuk Caner, Richard Krever, and Oana Luca June 2012", "evidence": [ { "evidence_id": "ev-db621d5e39bb484a", "page": 49, "quote": "However, if the IRA formula for sharing includes indicators of revenue capacity, as recommended by the 2012 mission, how should national wealth revenue be taken into account?", "source": "document" } ], "confidence": 0.65, "extraction_method": "explicit_recommendation_modal", "review_status": "unreviewed", "recommendation_type": "normative_modal_candidate", "explicitness": "implicit_candidate", "confidence_tier": "medium", "in_conservative_set": false, "recommendation_id": "cr-2012-219-rec-0046" }, { "text": "LGUs should be given authority to meet their budgetary needs by taxing more stable sources in their jurisdiction.", "verbatim": "LGUs should be given authority to meet their budgetary needs by taxing more stable sources in their jurisdiction.", "actor": null, "priority": null, "timeframe": null, "report_paragraph": null, "section": "Emil M. Sunley, Selcuk Caner, Richard Krever, and Oana Luca June 2012", "evidence": [ { "evidence_id": "ev-dfb68b7edae22935", "page": 49, "quote": "LGUs should be given authority to meet their budgetary needs by taxing more stable sources in their jurisdiction.", "source": "document" } ], "confidence": 0.65, "extraction_method": "explicit_recommendation_modal", "review_status": "unreviewed", "recommendation_type": "normative_modal_candidate", "explicitness": "implicit_candidate", "confidence_tier": "medium", "in_conservative_set": false, "recommendation_id": "cr-2012-219-rec-0047" }, { "text": "Taxation of natural resources should be primarily left to national governments in order to implement redistribution and stabilization policies such as establishing funds.", "verbatim": "Taxation of natural resources should be primarily left to national governments in order to implement redistribution and stabilization policies such as establishing funds.", "actor": null, "priority": null, "timeframe": null, "report_paragraph": null, "section": "Emil M. Sunley, Selcuk Caner, Richard Krever, and Oana Luca June 2012", "evidence": [ { "evidence_id": "ev-f61f5fdc812c19d3", "page": 49, "quote": "Taxation of natural resources should be primarily left to national governments in order to implement redistribution and stabilization policies such as establishing funds.", "source": "document" } ], "confidence": 0.65, "extraction_method": "explicit_recommendation_modal", "review_status": "unreviewed", "recommendation_type": "normative_modal_candidate", "explicitness": "implicit_candidate", "confidence_tier": "medium", "in_conservative_set": false, "recommendation_id": "cr-2012-219-rec-0048" }, { "text": "It would monitor the allocation of revenues and should provide assurance that the LGUs are receiving the funds they are entitled under the distribution formula.", "verbatim": "It would monitor the allocation of revenues and should provide assurance that the LGUs are receiving the funds they are entitled under the distribution formula.", "actor": null, "priority": null, "timeframe": null, "report_paragraph": null, "section": "Emil M. Sunley, Selcuk Caner, Richard Krever, and Oana Luca June 2012", "evidence": [ { "evidence_id": "ev-7aaf34ba13a6e761", "page": 50, "quote": "It would monitor the allocation of revenues and should provide assurance that the LGUs are receiving the funds they are entitled under the distribution formula.", "source": "document" } ], "confidence": 0.65, "extraction_method": "explicit_recommendation_modal", "review_status": "unreviewed", "recommendation_type": "normative_modal_candidate", "explicitness": "implicit_candidate", "confidence_tier": "medium", "in_conservative_set": false, "recommendation_id": "cr-2012-219-rec-0049" }, { "text": "The commission should include representatives from national agencies such as Department of Budget and Management, DOF, DENR and LGUs.", "verbatim": "The commission should include representatives from national agencies such as Department of Budget and Management, DOF, DENR and LGUs.", "actor": null, "priority": null, "timeframe": null, "report_paragraph": null, "section": "Emil M. Sunley, Selcuk Caner, Richard Krever, and Oana Luca June 2012", "evidence": [ { "evidence_id": "ev-f169194171b75a09", "page": 50, "quote": "The commission should include representatives from national agencies such as Department of Budget and Management, DOF, DENR and LGUs.", "source": "document" } ], "confidence": 0.65, "extraction_method": "explicit_recommendation_modal", "review_status": "unreviewed", "recommendation_type": "normative_modal_candidate", "explicitness": "implicit_candidate", "confidence_tier": "medium", "in_conservative_set": false, "recommendation_id": "cr-2012-219-rec-0050" }, { "text": "To overcome this problem, transfers of LGUs share of mineral taxes should be done soon after payments are received by the national government.", "verbatim": "To overcome this problem, transfers of LGUs share of mineral taxes should be done soon after payments are received by the national government.", "actor": null, "priority": null, "timeframe": null, "report_paragraph": null, "section": "Emil M. Sunley, Selcuk Caner, Richard Krever, and Oana Luca June 2012", "evidence": [ { "evidence_id": "ev-e121f0e48b4d8095", "page": 50, "quote": "To overcome this problem, transfers of LGUs share of mineral taxes should be done soon after payments are received by the national government.", "source": "document" } ], "confidence": 0.65, "extraction_method": "explicit_recommendation_modal", "review_status": "unreviewed", "recommendation_type": "normative_modal_candidate", "explicitness": "implicit_candidate", "confidence_tier": "medium", "in_conservative_set": false, "recommendation_id": "cr-2012-219-rec-0051" }, { "text": "Given the time available, the mission addressed selected issues relating to the petroleum fiscal regime; namely: (1) whether a royalty or the mineral excise should be imposed; (2) the need for the FPIA; (3) the treatment of financing costs as an operating expense; (4) progressive sharing of net proceeds; (5) the corporate income tax paid out of the government share; and (6) fiscal stability.", "verbatim": "Given the time available, the mission addressed selected issues relating to the petroleum fiscal regime; namely: (1) whether a royalty or the mineral excise should be imposed; (2) the need for the FPIA; (3) the treatment of financing costs as an operating expense; (4) progressive sharing of net proceeds; (5) the corporate income tax paid out of the government share; and (6) fiscal stability.", "actor": null, "priority": null, "timeframe": null, "report_paragraph": null, "section": "Emil M. Sunley, Selcuk Caner, Richard Krever, and Oana Luca June 2012", "evidence": [ { "evidence_id": "ev-49f4f3144c3b6332", "page": 52, "quote": "Given the time available, the mission addressed selected issues relating to the petroleum fiscal regime; namely: (1) whether a royalty or the mineral excise should be imposed; (2) the need for the FPIA; (3) the treatment of financing costs as an operating expense; (4) progressive sharing of net proceeds; (5) the corporate income tax paid out of the government share; and (6) fiscal stability.", "source": "document" } ], "confidence": 0.65, "extraction_method": "explicit_recommendation_modal", "review_status": "unreviewed", "recommendation_type": "normative_modal_candidate", "explicitness": "implicit_candidate", "confidence_tier": "medium", "in_conservative_set": false, "recommendation_id": "cr-2012-219-rec-0052" }, { "text": "How the contractor decides to finance the costs incurred to develop and operate the project should not affect the sharing of the project’s production (or net proceeds).", "verbatim": "How the contractor decides to finance the costs incurred to develop and operate the project should not affect the sharing of the project’s production (or net proceeds).", "actor": null, "priority": null, "timeframe": null, "report_paragraph": null, "section": "Emil M. Sunley, Selcuk Caner, Richard Krever, and Oana Luca June 2012", "evidence": [ { "evidence_id": "ev-40a224afb59aef56", "page": 53, "quote": "How the contractor decides to finance the costs incurred to develop and operate the project should not affect the sharing of the project’s production (or net proceeds).", "source": "document" } ], "confidence": 0.65, "extraction_method": "explicit_recommendation_modal", "review_status": "unreviewed", "recommendation_type": "normative_modal_candidate", "explicitness": "implicit_candidate", "confidence_tier": "medium", "in_conservative_set": false, "recommendation_id": "cr-2012-219-rec-0053" }, { "text": "This subsidy for debt finance should be dropped from future petroleum service contracts.", "verbatim": "This subsidy for debt finance should be dropped from future petroleum service contracts.", "actor": null, "priority": null, "timeframe": null, "report_paragraph": null, "section": "Emil M. Sunley, Selcuk Caner, Richard Krever, and Oana Luca June 2012", "evidence": [ { "evidence_id": "ev-f29fd00cb178fd9d", "page": 53, "quote": "This subsidy for debt finance should be dropped from future petroleum service contracts.", "source": "document" } ], "confidence": 0.65, "extraction_method": "explicit_recommendation_modal", "review_status": "unreviewed", "recommendation_type": "normative_modal_candidate", "explicitness": "implicit_candidate", "confidence_tier": "medium", "in_conservative_set": false, "recommendation_id": "cr-2012-219-rec-0054" }, { "text": "To increase the progressivity of Philippines’ fiscal regime for petroleum, two alternatives should be considered.", "verbatim": "To increase the progressivity of Philippines’ fiscal regime for petroleum, two alternatives should be considered.", "actor": null, "priority": null, "timeframe": null, "report_paragraph": null, "section": "Emil M. Sunley, Selcuk Caner, Richard Krever, and Oana Luca June 2012", "evidence": [ { "evidence_id": "ev-d0cd42585a643f17", "page": 54, "quote": "To increase the progressivity of Philippines’ fiscal regime for petroleum, two alternatives should be considered.", "source": "document" } ], "confidence": 0.65, "extraction_method": "explicit_recommendation_modal", "review_status": "unreviewed", "recommendation_type": "normative_modal_candidate", "explicitness": "implicit_candidate", "confidence_tier": "medium", "in_conservative_set": false, "recommendation_id": "cr-2012-219-rec-0055" }, { "text": "Naturally, the State’s share percentage of net proceeds should be higher when the CIT is paid out of the government share, all other things equal.", "verbatim": "Naturally, the State’s share percentage of net proceeds should be higher when the CIT is paid out of the government share, all other things equal.", "actor": null, "priority": null, "timeframe": null, "report_paragraph": null, "section": "Emil M. Sunley, Selcuk Caner, Richard Krever, and Oana Luca June 2012", "evidence": [ { "evidence_id": "ev-36baf092005470bd", "page": 55, "quote": "Naturally, the State’s share percentage of net proceeds should be higher when the CIT is paid out of the government share, all other things equal.", "source": "document" } ], "confidence": 0.65, "extraction_method": "explicit_recommendation_modal", "review_status": "unreviewed", "recommendation_type": "normative_modal_candidate", "explicitness": "implicit_candidate", "confidence_tier": "medium", "in_conservative_set": false, "recommendation_id": "cr-2012-219-rec-0056" }, { "text": "First, stabilization assurance should be limited to fiscal laws.", "verbatim": "First, stabilization assurance should be limited to fiscal laws.", "actor": null, "priority": null, "timeframe": null, "report_paragraph": null, "section": "Emil M. Sunley, Selcuk Caner, Richard Krever, and Oana Luca June 2012", "evidence": [ { "evidence_id": "ev-4f02780844f7e350", "page": 56, "quote": "First, stabilization assurance should be limited to fiscal laws.", "source": "document" } ], "confidence": 0.65, "extraction_method": "explicit_recommendation_modal", "review_status": "unreviewed", "recommendation_type": "normative_modal_candidate", "explicitness": "implicit_candidate", "confidence_tier": "medium", "in_conservative_set": false, "recommendation_id": "cr-2012-219-rec-0057" }, { "text": "Second, stabilization should be limited to the first five to ten years of the contract period.", "verbatim": "Second, stabilization should be limited to the first five to ten years of the contract period.", "actor": null, "priority": null, "timeframe": null, "report_paragraph": null, "section": "Emil M. Sunley, Selcuk Caner, Richard Krever, and Oana Luca June 2012", "evidence": [ { "evidence_id": "ev-b6c88ce233a09e88", "page": 56, "quote": "Second, stabilization should be limited to the first five to ten years of the contract period.", "source": "document" } ], "confidence": 0.65, "extraction_method": "explicit_recommendation_modal", "review_status": "unreviewed", "recommendation_type": "normative_modal_candidate", "explicitness": "implicit_candidate", "confidence_tier": "medium", "in_conservative_set": false, "recommendation_id": "cr-2012-219-rec-0058" }, { "text": "The stabilization provision if retained should be narrowed.", "verbatim": "The stabilization provision if retained should be narrowed.", "actor": null, "priority": null, "timeframe": null, "report_paragraph": null, "section": "Emil M. Sunley, Selcuk Caner, Richard Krever, and Oana Luca June 2012", "evidence": [ { "evidence_id": "ev-743849ce7858427e", "page": 56, "quote": "The stabilization provision if retained should be narrowed.", "source": "document" } ], "confidence": 0.65, "extraction_method": "explicit_recommendation_modal", "review_status": "unreviewed", "recommendation_type": "normative_modal_candidate", "explicitness": "implicit_candidate", "confidence_tier": "medium", "in_conservative_set": false, "recommendation_id": "cr-2012-219-rec-0059" } ], "observation_recommendation_links": [ { "observation_id": "cr-2012-219-obs-0003", "recommendation_id": "cr-2012-219-rec-0006", "relation": "responds_to_context", "link_basis": "same_paragraph", "evidence": [ { "evidence_id": "ev-cd6c77b0de9fa1f9", "page": 8, "quote": "The mission would recommend that for the next bid round, the government should consider replacing the 60/40 sharing of net proceeds with profit-based sharing under which the government share would increase as profitability increases.", "source": "document" } ], "confidence": 0.78, "review_status": "unreviewed", "recommendation_type": "normative_modal_candidate", "recommendation_confidence_tier": "medium", "conservative_recommendation": false }, { "observation_id": "cr-2012-219-obs-0004", "recommendation_id": "cr-2012-219-rec-0006", "relation": "responds_to_context", "link_basis": "same_paragraph", "evidence": [ { "evidence_id": "ev-cd6c77b0de9fa1f9", "page": 8, "quote": "The mission would recommend that for the next bid round, the government should consider replacing the 60/40 sharing of net proceeds with profit-based sharing under which the government share would increase as profitability increases.", "source": "document" } ], "confidence": 0.78, "review_status": "unreviewed", "recommendation_type": "normative_modal_candidate", "recommendation_confidence_tier": "medium", "conservative_recommendation": false }, { "observation_id": "cr-2012-219-obs-0004", "recommendation_id": "cr-2012-219-rec-0009", "relation": "contextually_associated_with", "link_basis": "same_or_adjacent_page_lexical_similarity", "evidence": [ { "evidence_id": "ev-c0ca2c00f9e116a5", "page": 9, "quote": "The 2011 mission undertook a preliminary assessment of the fiscal regime for mining and recommended that a future FAD mission compare the current fiscal regime with alternative regimes .", "source": "document" } ], "confidence": 0.6, "review_status": "unreviewed", "recommendation_type": "normative_modal_candidate", "recommendation_confidence_tier": "medium", "conservative_recommendation": false }, { "observation_id": "cr-2012-219-obs-0011", "recommendation_id": "cr-2012-219-rec-0012", "relation": "responds_to_context", "link_basis": "same_paragraph", "evidence": [ { "evidence_id": "ev-11f4d01709455e66", "page": 13, "quote": "Moreover, as a good fiscal practice, governments should not include projections of future mining revenue in government fiscal projections until the project has reached the development stage.", "source": "document" } ], "confidence": 0.78, "review_status": "unreviewed", "recommendation_type": "normative_modal_candidate", "recommendation_confidence_tier": "medium", "conservative_recommendation": false }, { "observation_id": "cr-2012-219-obs-0019", "recommendation_id": "cr-2012-219-rec-0017", "relation": "contextually_associated_with", "link_basis": "same_or_adjacent_page_lexical_similarity", "evidence": [ { "evidence_id": "ev-9bd41a2708d12488", "page": 16, "quote": "Philippines should adopt a fiscal regime for the mining sector that is simple, predictable, and transparent.", "source": "document" } ], "confidence": 0.533, "review_status": "unreviewed", "recommendation_type": "normative_modal_candidate", "recommendation_confidence_tier": "medium", "conservative_recommendation": false }, { "observation_id": "cr-2012-219-obs-0031", "recommendation_id": "cr-2012-219-rec-0028", "relation": "responds_to_context", "link_basis": "same_paragraph", "evidence": [ { "evidence_id": "ev-c6d15ed40d889d90", "page": 27, "quote": "[32] The carryover period for mining should be removed from the Mining Act.", "source": "document" } ], "confidence": 0.78, "review_status": "unreviewed", "recommendation_type": "normative_modal_candidate", "recommendation_confidence_tier": "medium", "conservative_recommendation": false }, { "observation_id": "cr-2012-219-obs-0043", "recommendation_id": "cr-2012-219-rec-0033", "relation": "responds_to_context", "link_basis": "same_paragraph", "evidence": [ { "evidence_id": "ev-b6893ef93c8e9cbb", "page": 34, "quote": "A key question in the design of a mining tax system is how additional profits should be shared if profits rise as a result of increases in market prices, or the discovery of an especially rich or low-cost deposit.", "source": "document" } ], "confidence": 0.78, "review_status": "unreviewed", "recommendation_type": "normative_modal_candidate", "recommendation_confidence_tier": "medium", "conservative_recommendation": false }, { "observation_id": "cr-2012-219-obs-0043", "recommendation_id": "cr-2012-219-rec-0035", "relation": "responds_to_context", "link_basis": "same_paragraph", "evidence": [ { "evidence_id": "ev-603d7fde716a2ed7", "page": 34, "quote": "The mining tax regime should ensure that both the mining company that has undertaken risk in investing to extract the resources and the Philippine nation which owns the resources being sold share in the profits from sale of resources.", "source": "document" } ], "confidence": 0.78, "review_status": "unreviewed", "recommendation_type": "normative_modal_candidate", "recommendation_confidence_tier": "medium", "conservative_recommendation": false }, { "observation_id": "cr-2012-219-obs-0046", "recommendation_id": "cr-2012-219-rec-0037", "relation": "contextually_associated_with", "link_basis": "same_or_adjacent_page_lexical_similarity", "evidence": [ { "evidence_id": "ev-ed5341d1060f0927", "page": 36, "quote": "47 The surcharge loss carryover eliminates the need to define a recovery period, as under the current additional government share.", "source": "document" } ], "confidence": 0.525, "review_status": "unreviewed", "recommendation_type": "normative_modal_candidate", "recommendation_confidence_tier": "medium", "conservative_recommendation": false }, { "observation_id": "cr-2012-219-obs-0047", "recommendation_id": "cr-2012-219-rec-0040", "relation": "responds_to_context", "link_basis": "same_paragraph", "evidence": [ { "evidence_id": "ev-3413b248e56518da", "page": 37, "quote": "The first possible statutory solution is modification of the law to allow for refunds of VAT input tax credits within a short period after a mining company files a return, with no need to wait until zero-rated exports commence.", "source": "document" } ], "confidence": 0.78, "review_status": "unreviewed", "recommendation_type": "normative_modal_candidate", "recommendation_confidence_tier": "medium", "conservative_recommendation": false }, { "observation_id": "cr-2012-219-obs-0058", "recommendation_id": "cr-2012-219-rec-0042", "relation": "contextually_associated_with", "link_basis": "same_or_adjacent_page_lexical_similarity", "evidence": [ { "evidence_id": "ev-06eaac61ab9cede5", "page": 46, "quote": "One question that was not addressed by the 2012 mission is how the sharing of national revenue from the utilization and development of national wealth should be taken into account when measuring revenue capacity.", "source": "document" } ], "confidence": 0.6, "review_status": "unreviewed", "recommendation_type": "normative_modal_candidate", "recommendation_confidence_tier": "medium", "conservative_recommendation": false }, { "observation_id": "cr-2012-219-obs-0059", "recommendation_id": "cr-2012-219-rec-0045", "relation": "contextually_associated_with", "link_basis": "same_or_adjacent_page_lexical_similarity", "evidence": [ { "evidence_id": "ev-2dd87f252ce81b5e", "page": 47, "quote": "However, contrary to the revenue sharing terms stipulated by the LGC, the transfer of funds to LGUs is delayed by as long as several years and the actual transfers are often less than the amount that should be transferred to the LGU.", "source": "document" } ], "confidence": 0.543, "review_status": "unreviewed", "recommendation_type": "normative_modal_candidate", "recommendation_confidence_tier": "medium", "conservative_recommendation": false }, { "observation_id": "cr-2012-219-obs-0062", "recommendation_id": "cr-2012-219-rec-0047", "relation": "responds_to_context", "link_basis": "same_paragraph", "evidence": [ { "evidence_id": "ev-dfb68b7edae22935", "page": 49, "quote": "LGUs should be given authority to meet their budgetary needs by taxing more stable sources in their jurisdiction.", "source": "document" } ], "confidence": 0.78, "review_status": "unreviewed", "recommendation_type": "normative_modal_candidate", "recommendation_confidence_tier": "medium", "conservative_recommendation": false }, { "observation_id": "cr-2012-219-obs-0063", "recommendation_id": "cr-2012-219-rec-0047", "relation": "responds_to_context", "link_basis": "same_paragraph", "evidence": [ { "evidence_id": "ev-dfb68b7edae22935", "page": 49, "quote": "LGUs should be given authority to meet their budgetary needs by taxing more stable sources in their jurisdiction.", "source": "document" } ], "confidence": 0.78, "review_status": "unreviewed", "recommendation_type": "normative_modal_candidate", "recommendation_confidence_tier": "medium", "conservative_recommendation": false }, { "observation_id": "cr-2012-219-obs-0064", "recommendation_id": "cr-2012-219-rec-0047", "relation": "responds_to_context", "link_basis": "same_paragraph", "evidence": [ { "evidence_id": "ev-dfb68b7edae22935", "page": 49, "quote": "LGUs should be given authority to meet their budgetary needs by taxing more stable sources in their jurisdiction.", "source": "document" } ], "confidence": 0.78, "review_status": "unreviewed", "recommendation_type": "normative_modal_candidate", "recommendation_confidence_tier": "medium", "conservative_recommendation": false }, { "observation_id": "cr-2012-219-obs-0062", "recommendation_id": "cr-2012-219-rec-0048", "relation": "responds_to_context", "link_basis": "same_paragraph", "evidence": [ { "evidence_id": "ev-f61f5fdc812c19d3", "page": 49, "quote": "Taxation of natural resources should be primarily left to national governments in order to implement redistribution and stabilization policies such as establishing funds.", "source": "document" } ], "confidence": 0.78, "review_status": "unreviewed", "recommendation_type": "normative_modal_candidate", "recommendation_confidence_tier": "medium", "conservative_recommendation": false }, { "observation_id": "cr-2012-219-obs-0063", "recommendation_id": "cr-2012-219-rec-0048", "relation": "responds_to_context", "link_basis": "same_paragraph", "evidence": [ { "evidence_id": "ev-f61f5fdc812c19d3", "page": 49, "quote": "Taxation of natural resources should be primarily left to national governments in order to implement redistribution and stabilization policies such as establishing funds.", "source": "document" } ], "confidence": 0.78, "review_status": "unreviewed", "recommendation_type": "normative_modal_candidate", "recommendation_confidence_tier": "medium", "conservative_recommendation": false }, { "observation_id": "cr-2012-219-obs-0064", "recommendation_id": "cr-2012-219-rec-0048", "relation": "responds_to_context", "link_basis": "same_paragraph", "evidence": [ { "evidence_id": "ev-f61f5fdc812c19d3", "page": 49, "quote": "Taxation of natural resources should be primarily left to national governments in order to implement redistribution and stabilization policies such as establishing funds.", "source": "document" } ], "confidence": 0.78, "review_status": "unreviewed", "recommendation_type": "normative_modal_candidate", "recommendation_confidence_tier": "medium", "conservative_recommendation": false }, { "observation_id": "cr-2012-219-obs-0069", "recommendation_id": "cr-2012-219-rec-0052", "relation": "responds_to_context", "link_basis": "same_paragraph", "evidence": [ { "evidence_id": "ev-49f4f3144c3b6332", "page": 52, "quote": "Given the time available, the mission addressed selected issues relating to the petroleum fiscal regime; namely: (1) whether a royalty or the mineral excise should be imposed; (2) the need for the FPIA; (3) the treatment of financing costs as an operating expense; (4) progressive sharing of net proceeds; (5) the corporate income tax paid out of the government share; and (6) fiscal stability.", "source": "document" } ], "confidence": 0.78, "review_status": "unreviewed", "recommendation_type": "normative_modal_candidate", "recommendation_confidence_tier": "medium", "conservative_recommendation": false }, { "observation_id": "cr-2012-219-obs-0072", "recommendation_id": "cr-2012-219-rec-0053", "relation": "responds_to_context", "link_basis": "same_paragraph", "evidence": [ { "evidence_id": "ev-40a224afb59aef56", "page": 53, "quote": "How the contractor decides to finance the costs incurred to develop and operate the project should not affect the sharing of the project’s production (or net proceeds).", "source": "document" } ], "confidence": 0.78, "review_status": "unreviewed", "recommendation_type": "normative_modal_candidate", "recommendation_confidence_tier": "medium", "conservative_recommendation": false }, { "observation_id": "cr-2012-219-obs-0072", "recommendation_id": "cr-2012-219-rec-0054", "relation": "responds_to_context", "link_basis": "same_paragraph", "evidence": [ { "evidence_id": "ev-f29fd00cb178fd9d", "page": 53, "quote": "This subsidy for debt finance should be dropped from future petroleum service contracts.", "source": "document" } ], "confidence": 0.78, "review_status": "unreviewed", "recommendation_type": "normative_modal_candidate", "recommendation_confidence_tier": "medium", "conservative_recommendation": false }, { "observation_id": "cr-2012-219-obs-0078", "recommendation_id": "cr-2012-219-rec-0055", "relation": "contextually_associated_with", "link_basis": "same_or_adjacent_page_lexical_similarity", "evidence": [ { "evidence_id": "ev-d0cd42585a643f17", "page": 54, "quote": "To increase the progressivity of Philippines’ fiscal regime for petroleum, two alternatives should be considered.", "source": "document" } ], "confidence": 0.525, "review_status": "unreviewed", "recommendation_type": "normative_modal_candidate", "recommendation_confidence_tier": "medium", "conservative_recommendation": false }, { "observation_id": "cr-2012-219-obs-0075", "recommendation_id": "cr-2012-219-rec-0056", "relation": "contextually_associated_with", "link_basis": "same_or_adjacent_page_lexical_similarity", "evidence": [ { "evidence_id": "ev-36baf092005470bd", "page": 55, "quote": "Naturally, the State’s share percentage of net proceeds should be higher when the CIT is paid out of the government share, all other things equal.", "source": "document" } ], "confidence": 0.538, "review_status": "unreviewed", "recommendation_type": "normative_modal_candidate", "recommendation_confidence_tier": "medium", "conservative_recommendation": false }, { "observation_id": "cr-2012-219-obs-0078", "recommendation_id": "cr-2012-219-rec-0057", "relation": "contextually_associated_with", "link_basis": "same_or_adjacent_page_lexical_similarity", "evidence": [ { "evidence_id": "ev-4f02780844f7e350", "page": 56, "quote": "First, stabilization assurance should be limited to fiscal laws.", "source": "document" } ], "confidence": 0.554, "review_status": "unreviewed", "recommendation_type": "normative_modal_candidate", "recommendation_confidence_tier": "medium", "conservative_recommendation": false }, { "observation_id": "cr-2012-219-obs-0078", "recommendation_id": "cr-2012-219-rec-0058", "relation": "contextually_associated_with", "link_basis": 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