MANILA, Philippines — President Ferdinand Marcos Jr. on Thursday signed into law a measure that seeks to modernize the country’s mining fiscal regime.
The President signed Republic Act (RA) 12253 or the "Enhanced Fiscal Regime for Large-Scale Metallic Mining Act" in a ceremony in Malacañang.
Marcos signs mining tax regime law
The new law seeks to simplify and rationalize the fiscal regime for large-scale metallic mining, ensuring an equitable share of mining revenues for the government while upholding the principles of transparency, accountability and good governance in the mining industry.
Under the law, the estimated revenue impact from 2026 to 2029 is projected at P25.08 billion in total or an average of P6.26 billion per year.
Marcos signs mining tax regime law
RA 12253, which is one of the priority measures of the Legislative-Executive Development Advisory Council, consolidates the provisions of House Bill 8937 and Senate Bill 2826., This news data comes from:http://fe-uuvy-eghp-upx.erlvyiwan.com
- Islamic State claims deadly attack on Pakistan rally
- Malabon averts crisis with garbage deal
- Lookout bulletins out vs Atong Ang, Barretto
- Go Negosyo, CFO push migrant empowerment
- Putin vows not to back down in Ukraine
- Trump to blacklist countries for imprisoning Americans
- Typhoon death toll rises in Vietnam as downed trees hamper rescuers
- Thai woman jailed for 43 years for lese majeste freed
- Vico encourages citizens on Heroes’ Day to be brave
- Marcos sacks PNP Chief Torre, saying it was 'difficult but necessary'
