Sources of Revenues. – The Bangsamoro Government shall have the power to create its own sources of revenues and to levy taxes, fees, and charges, subject to the provisions of this Organic Law and consistent with the principles of equalization, equity, accountability, administrative simplicity harmonization and economic efficiency, and fiscal autonomy. Such taxes, fees, and charges shall accrue exclusively to the Bangsamoro Government.
The sources of revenues of the Bangsamoro Government include, among others, the following:
(a) Taxes, in accordance with the provisions of this Organic Law;
(b) Fees and charges;
(c) Annual block grant from the National Government;
(d) Revenues or shares in revenues from the exploration, development, and utilization of natural resources derived from land or water areas or territories within the Bangsamoro territorial jurisdiction;
(e) Share in the National Government taxes, fees, and charges collected in the Bangsamoro territorial jurisdiction;
(f) Dividends from Bangsamoro government-owned or controlled corporations and other corporations, and share from the dividends of national government-owned or controlled corporations and their subsidiaries in the Bangsamoro Autonomous Region as may be determined by the Intergovernmental Fiscal Policy Board;
(g) Grants from economic agreements or conventions entered into by the Bangsamoro Government to which the National Government is a party;
(h) Grants, endowments, donations, foreign assistance and other forms of aid;
(i) Loans and official development assistance;
(j) Shares and revenues generated for the operations of public utilities within the Bangsamoro territorial jurisdiction;
(k) Appropriations and other budgetary allocations from the National Government; and
(l) Tax of not more than ten percent (10%) of fair market value in the locality per cubic meter of ordinary stones, sand, gravel, earth, and other quarry resources, as defined in the National Internal Revenue Code, as amended, extracted from public lands or from the beds of seas, lakes, rivers, streams, creeks, and other public waters within its territorial jurisdiction, the proceeds of which shall be distributed as follows:
(1) Thirty percent (30%) to the Bangsamoro Government; and
(2) Seventy percent (70%) to the local government units where the sand gravel, and other quarry resources are extracted as follows:
(i) Thirty percent (30%) to the province;
(ii) Thirty percent to the component city or municipality; and
(iii) Forty percent (40%) to the barangay. The constituent local government units in the Bangsamoro Autonomous Region shall continue to exercise the taxing powers granted under Republic Act No. 7160, as amended.
