The minerals industry is a contributor to the financial coffers of the country through the collection of taxes and fees from mining and minerals-related activities in the country. A list of common taxes and fees collected by government from mining contractors and permittees are given in B(7) of this paper. The undulating curve in the graph below characterizes the nature of the industry being influenced by rise and fall of international commodity prices.

Excise tax alone, which is currently two (2) percent of the gross value of mineral products, is a major tax paid by mineral producers to the government. The Bureau of Internal Revenue experienced increased tax collections during the years 1987 to 1992, with 1991 as the year with the highest collection almost hitting the billion pesos mark. Again this was a period when copper prices were high.