Sign up | Log in



Home  >>   Daily News  >>   Philippinese News  >> Finance  >> PHL gov't agrees to give greater fiscal power to Bangsamoro gov't
NEWS UPDATES Asean Affairs   16 July 2013  

PHL gov't agrees to give greater fiscal power to Bangsamoro gov't

The Philippine government has agreed to give greater fiscal power to the government of the proposed Bangsamoro political entity, the Office of the Presidential Adviser on the Peace Process (OPAPP) said Sunday

In the eight-page wealth-sharing annex signed by the peace panels of the Philippine government and the Moro Islamic Liberation Front (MILF), the parties agreed that 75 percent of taxes, fees and charges collected in the proposed Bangsamoro political entity will go to the region's government. The rest will go to the central government.

The OPAPP said the same arrangement will be followed when it comes to income "derived from exploration, development and utilization of metallic minerals within the region."

In accordance with Republic Act 6734, taxes collected in the Autonomous Region in Muslim Mindanao (ARMM) are currently distributed in this manner: 30 percent to local government units, 30 percent to the regional government and 40 percent to the national government.

A Bangsamoro political entity is being proposed to replace the ARMM under the framework agreement signed by the Philippine government and the MILF last October, which could potentially end the decades-old separatist insurgency in Mindanao.

On Saturday night, the Philippine government and the MILF reached an agreement on the controversial wealth-sharing annex of their peace pact during their latest round of talks in Kuala Lumpur, Malaysia.

'Correct the flaws'

Income derived from fossil fuels such as petroleum,  natural gas and coal, on the other hand, "will be shared equally between" the Bangsamoro government and the central government, the OPAPP added.

The Bangsamoro government will meanwhile have full control over “income derived from the operations of Bangsamoro government-owned and -controlled corporations, financial institutions, economic zones, and freeports operating therein," according to the OPAPP.

The political entity's government and its local government units will meanwhile split income from non-metallic minerals such as sand, gravel and quarry resources.

In an OPAPP statement, Philippine government chief peace negotiator Miriam Coronel-Ferrer said the wealth-sharing annex will "correct the flaws in the current fiscal system in the ARMM."

“We have a good package, one that we believe would make fiscal autonomy in the Bangsamoro a reality,” she said.

Coronel-Ferrer likewise said that both parties will now have to work on the annexes on power-sharing and normalization to complete the comprehensive agreement between the MILF and the Philippine government. — Andreo Calonzo/BM, GMA News

Reach Southeast Asia!
10- Nations, 560- Million Consumers
And $1 -Trillion Market
We are the Voice of Southeast Asia Media Kit
The only Media Dedicated to Southeast Asia Advertising Rates for Magazine
Online Ad Rates

Comment on this Article. Send them to

Letters that do not contain full contact information cannot be published.
Letters become the property of AseanAffairs and may be republished in any format.
They typically run 150 words or less and may be edited
submit your comment in the box below

Today's  Stories    16 July 2013 Subsribe Now !
• Washing machine and refrigerator volume sales recorded double digit growth Subcribe: Asean Affairs Global Magazine
• Thein Sein leaves for Europe Asean Affairs Premium
• PHL gov't agrees to give greater fiscal power to Bangsamoro gov't
Research Reports
on Thailand 2007-2008

•Textiles and Garments Industry

•Coffee industry

•Leather and footwear industry

•Shrimp industry

• Best Western supports World Vision work in Laos
• 6th ASEAN Secretary-General and the Japanese Business Community Dialogue
• Rice husk to power agriculture
• Hotels, bars make promotions as wine demand is down
Asean Analysis            16 July 2013 Advertise Your Brand
• Asean Analysis- July 16, 2013
• Asean Weekly: The Biweekly Update
Asean Stock Watch     15 July 2013
• Asean Stock Watch-July 15, 2013  

ASEAN NEWS UPDATES      Updated: 04 January 2011

 • Women Shariah scholars see gender gap closing
• Bank Indonesia may hold key rate as inflation hits 7 percent
• Bursa Malaysia to revamp business rules
• Private property prices hit new high in Singapore • Bangkok moves on mass transport
• Thai retailers are upbeat
• Rice exports likely to decline • Vietnamese PM projects 10-year socioeconomic plan


This year in Thailand-what next?

AseanAffairs   04 January 2011
By David Swartzentruber      

It is commonplace in journalism to write two types of articles at the transition point between the year that has passed and the New Year. As this writer qualifies as an “old hand” in observing Thailand with a track record dating back 14 years, it is time take a shot at what may unfold in Thailand in 2011.

The first issue that can’t be answered is the health of Thailand’s beloved King Bhumibol, who is now 83 years old. He is the world's longest reigning monarch, but elaborate birthday celebrations in December failed to mask concern over his health. More






1.  Verifier

1. Verifier

For security purposes, we ask that you enter the security code that is shown in the graphic. Please enter the code exactly as it is shown in the graphic.
Your Code
Enter Code

Home | About Us | Contact Us | Special Feature | Features | News | Magazine | Events | TV | Press Release | Advertise With us

Our Products | Work with us | Terms of Use | Site Map | Privacy Policy | Refund Policy | Shipping/Delivery Policy | DISCLAIMER |

Version 5.0
Copyright © 2007-2015 TIME INTERNATIONAL MANAGEMENT ENTERPRISES CO., LTD. All rights reserved.
Bangkok, Thailand