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., This news data comes from:http://www.erlvyiwan.com
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
- Maduro hits ‘illegal’ US troops deployment
- Napolcom confirms Lt. Gen. Nartatez as acting PNP chief
- Philippine forces deliver supplies and personnel to disputed South China Sea shoal despite tensions
- Nartatez to reassign Torre if he won't retire, says they're 'okay'
- MMDA proposes rainwater facilities in Camp Aguinaldo to mitigate EDSA flooding
- UN: Rising heat 'severely' impacting workers' health
- Hontiveros wants Senate to probe Chinese who pretended to be Filipino
- BuCor chief calls for major reforms
- France seized by fears of new political crisis
- China to bolster non-Western alliances at summit, parade
