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.
Marcos signs mining tax regime law
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://fi-pdb-cvu-ir.ycyzqzxyh.com
- Thailand's Parliament to vote Friday for a new prime minister
- Marcos signs laws creating more court branches
- Drug war victims ready to face Duterte as ICC sets hearing on crimes against humanity
- Xi says China 'unstoppable' in parade opening speech
- 17 House lawmakers press Marcos administration to raise WPS issue to UN
- House starts flood control probe
- MMDA prepares for PH hosting of FIVB
- Heavy rain falls in parts of Southeast Asia after tropical storm blows into Vietnam
- Ballots for oct 13 BARMM polls completed – Comelec
- Comelec to resume BARMM polls ballot printing Thursday
