Mining firm says probe body erred in tax rates
http://news.inq7.net/regions/index.php?index=1&story_id=77448
THE commission that investigated two mine spills in Rapu-Rapu, Albay erred in the way it computed Lafayette Philippines Inc.’s (LPI) production figures to arrive at a conclusion that the firm did not pay proper taxes.
In a statement answering the charges made by the Bastes Commission, LPI said the error emanated from the commission’s failure to understand the mining and milling process.
“If only the commission had asked us to explain, they could have spared us the temporary suspicion of fiscal irresponsibility, and themselves the embarrassment of being unmasked for a report that is biased, flawed, unscientific, and, irresponsible,” LPI said in a statement.
“The simplest way to explain this,” it said, “is that bottom line, we paid the taxes based on production figures the commission said it should be based on. Put another way, we did not evade tax payments because we paid the amount the commission said we should pay.”
The company said ore production was 70,000 metric tons in April-June 2005 to build up inventory for a July milling operation. Production from July to October reached 67,000 MT.
