Listed mining firm Oceana Gold Philippines Inc. has paid a total of P397.7 million in local business tax (LBT) to three municipalities in the provinces of Nueva Vizcaya and Quirino for 2025.
The company said in a statement on Monday it remitted an LBT of P198.9 million to Kasibu town in Nueva Vizcaya and paid P119.3 million and P79.6 million to the municipalities of Nagtipunan and Cabarroguis in Quirino, respectively.
Oceana Gold Philippines said it paid a total LBT of P421.9 million and P326.2 million to the three municipalities in 2024 and 2023, respectively.
This year, Kasibu and Cabarroguis joined Nagtipunan as first-class municipalities based on their respective average annual incomes for the last three years, the company added.
First class municipalities are those earning an average of P200 million or more annually, based on the Automatic Income Classification of Local Government Units Act.
“We are a part of the community and it is pleasing to share our success with the broader community. This is a partnership, a relationship…this is an example where we are giving back as much as we can,” said Peter Sharpe, Oceana Gold Philippines chairman.
The beneficiary municipalities also pledged, through their respective memorandum of agreement with the company, to allocate no less than P5 million from their own LBT share to fund projects, programs and activities in support of environmental management, protection and conservation in their respective jurisdictions.
