REPUBLIC ACT No. 1510
AN ACT TO FURTHER AMEND SECTION TWO HUNDRED FORTY-SIX OF THE NATIONAL INTERNAL REVENUE CODE BY PROVIDING THAT TEN PER CENTUM OF THE ROYALTIES ON MINERAL LANDS UNDER LEASE AND OF THE AD VALOREM TAXES ON THE OUTPUT OF MINERAL LANDS NOT COVERED BY LEASE SHALL ACCRUE TO THE MUNICIPALITY AND TEN PER CENTUM TO THE PROVINCE WHERE THE MINES ARE SITUATED.
Section 1. Section two hundred forty-six of Commonwealth Act Numbered Four hundred and sixty-six, known as the National Internal Revenue Code, as amended by Republic Act Numbered Eight hundred thirty-four, is further amended to read as follows:
"Sec. 246. Definition of the terms "gross output" Disposition of royalties and ad valorem taxes. The term "gross output" shall be interpreted as the actual market value of minerals or mineral products, or of bullion from each mine or mineral lands operated as a separate entity without any deduction for mining, milling, refining, transporting, handling, marketing, or any other expenses: Provided, however, That if the minerals or mineral products...
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