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., This news data comes from:http://ycyzqzxyh.com
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.
Marcos signs mining tax regime law
- Comelec en banc upholds cancelation of Duterte Youth Party-List registration
- Russian drone, missile attack kills 14, injured 48 in Kyiv
- DPWH chief rejects calls to resign as he vows to probe corruption in flood control projects
- House justice panel to probe US' extradition request for Quiboloy
- Afghan quake death toll surges to over 2,200
- Marcos wants subpoena power for body investigating flood projects
- FBI raids home of Trump critic, former adviser
- NHA gives cash aid to families affected by calamity in Manila
- Nepali court: Hindu holy men's nudity not obscene
- Oil firms to raise fuel prices this week
