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.
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.
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.
Marcos signs mining tax regime law, This news data comes from:http://nim-jf-rx-kdol.ycyzqzxyh.com
- PH Navy spots 20 Chinese ships near BRP Sierra Madre
- Prime minister of Yemen's Houthi-run government killed in Israeli strike
- 15 drug war victims cleared to join Duterte's ICC case
- Israeli protesters demand hostage deal as cabinet meets
- 2 policemen placed under preventive custody for allegedly molesting a female colleague in Marikina
- Marcos says commission on DPWH anomalies to be finalized 'very soon,' mum on Magalong participation
- ‘Lannie’ will bring rain showers, thunderstorms over North Luzon —Pagasa
- Labubu fans flock to stores after launch of mini dolls
- Follow the trucks: Why investors are looking south of Metro Manila
- Ballots for oct 13 BARMM polls completed – Comelec
