MANILA, Philippines — President Ferdinand Marcos Jr. on Thursday signed into law a measure that seeks to modernize the country’s mining fiscal regime.
Marcos signs mining tax regime law
The President signed Republic Act (RA) 12253 or the "Enhanced Fiscal Regime for Large-Scale Metallic Mining Act" in a ceremony in Malacañang.
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, This news data comes from:http://yy-yb-nir-oi.xs888999.com
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.
- Nartatez rules out 'quota' arrests
- Madagascar welcomes home skulls of Indigenous warriors taken by French colonial troops 128 years ago
- Red Cross head says mass evacuation of Gaza City 'impossible'
- Marcos orders lifestyle check on all govt officials amid flood projects probe
- NKorea could produce ten to twenty nukes per year — SKorea leader
- 25,000 Filipinos register for Pag-IBIG's Expanded 4PH Housing Program
- Strikes across Gaza Strip kill at least 31 as international scholars accuse Israel of genocide
- LPA trough, 'habagat' to bring rains in parts of Luzon, including Metro Manila
- Mass housing developers laud Pag-IBIG Fund
- Pasig fire kills child, injures mother as she tries to save him
