Wow, gold smuggling na pud!
EDGEDAVAO P 15.00 • 20 PAGES
VOL.5 ISSUE 121 • TUESDAY, AUGUST 21, 2012
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Paje confirms gold smuggling in Davao Decline in sale of gold to 5 BSP buying stations after BIR imposed taxes
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He Department of environment and Natural Resources-Mines and Geo-Sciences Bureau (DeNR-MGB) disclosed Monday that the total metallic mineral production value during the first semester of 2012 (January-June) diminished by a staggering 26 percent, due to the 95 percent decline in the gold purchases by the Bangko Sentral ng Pilipinas (BSP). In a report to DeNR Secretary Ramon J.P. Paje, MGB Director Leo Jasareno stated that the decline in gold purchases started during the second semester of 2011 when the Bureau of Internal Revenue (BIR) strictly imposed the collection of the two percent excise tax and 10 percent creditable withholding tax (cWT) from the sale of gold by small-scale miners and traders pursuant to Revenue Regulations No. 7-2008 dated March 25, 2008. Said regulation was superseded by Revenue Regulations No. 6-2012 dated april 2, 2012, which reduced the cWT from 10 percent to 5 percent effective april 2012. The BSP, through its five buying stations in Baguio city, Davao city, Zamboanga city, Naga city and Quezon city, deducts the corresponding taxes from small-scale miners/traders and remit the same to the BIR. The decline in volume of gold sold to BSP, not decrease in gold production, was first reported by edge Davao quoting Regional Director Maria Luisa D. Lim of the National economic Development authority (Neda) and Regional Director estrella R. Turingan of the National Statistical coordination Board (NScB). “Given the continuing high price of gold and the increasing number of small-scale mining areas, the decrease in gold purchases by the BSP clearly indicates that gold outputs are going to the black market and smuggling activities,” Paje PAMULAK. Contingents for this year’s Pamulak sa Kadayawan show off their floats during the last day of the stressed. Kadayawan sa Dabaw Festival. The event showcases FPAJE, 12 annual flowers in bloom and ripe fruits in a floral float parade
competition where onlookers witnessed countless mobile floats. Two categories excite both the interested float artists and audiences – the big and the small category. [Joseph
GPH, NDF to resume peace talks in September LaWrence p. Garcia]
By Edward C. Lactaoen
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eace talks between the Government of the Philippines (GPH) and the National Democratic Front (NDF) are set to resume next month after a year of being stalled, according to GPH panel member ednar G. Dayanghirang
who guested at the Kapehan sa Dabaw at SM annex atrium yesterday. Dayanghirang said the reason behind the delay was the demand of the NDF for the release of 14 persons, said to be NDF consultants, under the protection of the Joint
agreement and Safety Immunity Guarantees (JaSIG). However, the floppy disk containing the list deposited by the NDF in a Norwegian bank could no longer be opened due to alleged virus. Dayanghirang said the Royal Norwegian
Government , the third party in the negotiation, requested the parties to set the technical issues aside and move forward with the peace talks. The GPH and NDF met last June 14 and 15 in Oslo, Norway, for in-
FGPH, 12