Rules covering mining royalty payments issued

THE Bureau of Internal Revenue (BIR) has issued rules covering quarterly royalty payments by mining firms under a new fiscal regime. Revenue Memorandum Circular (RMC) 58-2026 issued last week implements Republic Act (RA) 12253 that became law last year. “The procedures herein shall apply to all large-scale metallic mining contractors and operators who are required to file quarterly royalty returns and pay the corresponding royalty under Section 151-A of the Tax Code,” the circular st