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., This news data comes from:http://jyxingfa.com
Marcos signs mining tax regime law
- Leviste files charges against DPWH engineer who tried to bribe him
- DSWD's guarantee letters now accepted in more establishments
- Philippines presses call for ceasefire in Gaza
- Hawaii's Kilauea volcano erupts with lava pouring out from multiple vents
- Lawmaker linked to anomalous flood control projects in US for medical reasons, says House spokesman
- US warship heading toward Caribbean Sea
- Trump tells Europe to put economic pressure on China over Ukraine
- Tokyo protests to Beijing over gas field in East China Sea
- Trump rebrands Department of Defense as 'Department of War'
- Israeli protesters call for hostage deal ahead of cabinet meeting
