• Philippine Resources

Cagdianao Mining Corporation Pays P43 million Annual Business Tax

According to the Cagdianao Mining Corporation (CMC), its annual business tax worth P43 million has already been paid to the local government of Cagdianao in Dinagat Islands, where it operates a 697-hectare nickel mine.

In its statement, the firm - which is an affiliate of Nickel Asia Corporation, the country’s largest nickel supplier - said that the money was handed over to Cagdianao Mayor Adolfo Longos by its resident mine manager, Arnilo Milaor.

“Aside from the annual business taxes, CMC also regularly pays royalties, fees, and other obligations to the national and local governments, even down to the barangay level,” the mining firm said.

CMC highlighted the importance of paying the right taxes. "As a valued partner of the community, we are happy to see our local taxes and fees becoming instrumental in the growth and development not only of Cagdianao and neighbouring towns but the whole province of Dinagat Islands as well," Milaor said. "We will continue to see to it that our taxes and other obligations are paid on time, so that these would be enjoyed by residents in the form of improved infrastructure, better health, and social services, and raised living standards and quality of life," he added.

Records from the Mines and Geosciences Bureau revealed that in light of its COVID response, the firm spent P6 million on relief operations, supporting medical front-liners and survival kits to some 1,300 families.


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