11256 or the Gold Law would allow the BSP to increase its purchases of domestic gold to further build up the level of the Philippines’ GIR, which serves as the country’s primary buffer against external economic shocks. The law exempts from excise and income tax the sale to the BSP of gold sourced from small-scale mining activities.
But one thing is for sure, the NBS will be facing the fewest as can be proved by the following facts: -  Today we are holding a meeting with the representatives of the ECB and 17 EU member states that have been working in the NBS for more than nine months in six different areas of NBS operations in order to eliminate any “challenges”.