REVENUE REGULATIONS NO. 1-2018 issued on January 15, 2018 provides the revised tax rates on Mineral Products pursuant to the provisions of Republic Act No. 10963 (TRAIN Law), amending for the purpose Revenue Regulations (RR) No. 13-94. There shall be levied, assessed and collected on mineral, mineral products and quarry resources, Excise Tax as follows: a. On domestic and imported coal and coke Date of Effectivity Excise Tax per Metric Ton January 1, 2018 Fifty pesos (P50.00) January 1, 2019 One hundred pesos (P100.00) January 1, 2020 and onwards One hundred and fifty pesos (P150.00) Coal produced under Coal Operating Contracts entered into by the government pursuant to Presidential Decree No. 972 as well as those exempted from Excise Tax on mineral products under other laws shall now be subject to the applicable rates above beginning January 1, 2018. b. All non-metallic minerals and quarry resources Excise Tax Locally-extracted or produced Four percent (4%) based on the actual market value of the gross output thereof at the time of removal Imported Four percent (4%) based on the value used by the Bureau of Customs (BOC) in determining tariff and customs duties, net of Excise Tax and Value-Added Tax (VAT) Locally-extracted natural gas and liquefied natural gas Exempt c. All metallic minerals Excise Tax Locally-extracted or produced copper, gold, chromite and other metallic minerals Four percent (4%) based on the actual market value of the gross output thereof at the time of removal Imported copper, gold, chromite and other metallic minerals Four percent (4%) based on the value used by the BOC in determining tariff and customs duties, net of Excise Tax and VAT d. Indigenous petroleum, a tax of six percent (6%) of the fair international market price thereof, on the first taxable sale, barter, exchange or such similar transaction, such tax to be paid by the buyer or purchaser before removal from the place of production. The phrase ‘first taxable sale, barter, exchange or similar transaction’ means the transfer of indigenous petroleum in its original state to a first taxable transferee. The fair international market price shall be determined in consultation with an appropriate government agency. The ‘indigenous petroleum’ shall include locally-extracted mineral oil, hydrocarbon gas, bitumen, crude asphalt, mineral gas and all other similar or naturally associated substances with the exception of coal, peat, bituminous shale and/or stratified mineral deposits.