Small-scale gold miners get tax relief OFFICIALS of the Bangko Sentral ng Pilipinas (BSP) applauded the amendment of the National Internal Revenue Code that exempted smallscale miners from paying income and excise tax for the gold that they sell to the central bank. President Rodrigo R. Duterte signed into law Republic Act (RA)
11256 on March 29, 2019. BSP Governor Benjamin Diokno said the amended law is “an excellent and much needed law.” “It remedies the 99 percent drop in domestic gold purchases from more than 900 thousand fine troy ounces (FTO) in 2010 to around 10 thousand FTO in 2019 as a result of
the taxation of the sale of gold to the BSP beginning July 2011,” he said. The BSP chief explained that the amendment of the NIRC will allow the central bank to increase gold purchases from domestic sources “to further build up the country’s gross international reserves (GIR).” See GET, page 11
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Cops among the victims of investment scams in R-12 GENERAL Santos City-Police authorities in Region 12 raised alarm on Wednesday over the continuing proliferation of various illegal investment schemes in the area that already lured and victimized thousands of residents. Brig. Gen Eliseo Tam Rasco, regional director of the Police Regional office-12, said their monitoring showed that many residents, including ranking officials and members of the Philippine National Police (PNP), continue to fall prey to the mushrooming investment scams. He said the fraudulent activities have thrived despite numerous warnings and public advisories from various government agencies. “According to our estimates, billions of pesos have been lost to these fraudulent A whole lane of JR Borja extension in Cagayan de Oro City is closed to accommodate the installation of a drainage system there. Photo taken See VICTIMS, page 11
Wednesday, May 22.
photo by mark francisco
DOT warns public vs. fake travel businesses
THE Department of Tourism (DOT) on Tuesday warned the public against non-accredited entities engaged in travel and tours, airline ticketing and other travel businesses. “Recently, various reports have been received by the Department of Tourism on the proliferation of nonaccredited entities advertising services in different social media platforms for airline ticketing, travel and tours arrangement, hotel booking, and training offerings for travel business SUNSET BOULEVARD. Teenagers play frisbee by the beach along management,” the DOT said the Dipolog Sunset Boulevard at dusk on Friday, 17 May 2019. in a statement. MindaNews
photo by
BOBBY TIMONERA
See WARNS, page 11
Ozamiz holds AIDS candlelight memorial 2019 STORY ON PAGE 2
OPINION Page 4 Unruffled
Laid-back Camiguin By Ruffy Magbanua
A Deeper View
The PDU30 fist-Bumping senators
By Jesse E.L. Bacon II
The CYNOSURE BRIGHTER DAYS. Dr. Conception E. Lagahuya from Ideal Vision Cagayan de Oro City gives a free eye checkup during the medical-dental mission of FDC Misamis Power Corporation (FDC Misamis)...read more on/p3
Politics mold everyone’s life By Cris Diaz
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