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., This news data comes from:http://yunk-mlvr-ipd-fswt.erlvyiwan.com
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.
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.
- Monsoon rains flood Mandaluyong, Parañaque — MMDA
- Puno seeks probe of anomalous projects ‘funders’
- Comelec probes 15 contractors for illegal campaign donations
- Marcos mum on Magalong joining independent commission for DPWH probe
- Made in China? The remarkable tale of Venice's iconic winged lion
- 'Pink and green' protests call for a reset in Indonesia
- China's Communist rulers push party role before World War II anniversary
- DSWD's guarantee letters now accepted in more establishments
- MMDA unveils plan to build rainwater impounding facilities in Camp Aguinaldo
- Former PNP chief Torre III offered new government post
