Section 48. Section 151 of the NIRC, as amended,is hereby further amended to read as follows:

“Sec. 151. Mineral Products.—

“(A) Rates of Tax.— There shall be levied, assessed and collected on minerals, mineral products and quarry resources, excise tax as follows:

“(1) On domestic or imported coal and coke, notwithstanding any incentives granted in any law or special law:

“Effective January 1, 2018, Fifty pesos (₱50.00) per metric ton;

“Effective January 1, 2019, One hundred pesos (₱100.00) per metric ton; and

“Effective January 1, 2020, One hundred fifty pesos {₱150.00) per metric ton.

“(2) On all nonmetallic minerals and quarry resources, a tax of four percent (4%) based on the actual market value of the gross output thereof at the time of removal, in the case of those locally extracted or produced; or the value used by the Bureau of Customs in determining tariff and customs duties, net of excise tax and value-added tax in the case of importation.

“x x x:

“(a) Copper and other metallic minerals, four percent (4%); and

“(b) Gold and chromite, four percent (4%).

“(4) On 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. x x x.

“x x x.”