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.
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, This news data comes from:http://erlvyiwan.com
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.
- PH economic losses hit 100B from corruption in flood control projects
- UN watchdog finds uranium traces at suspected Syrian former nuclear site
- Strikes across Gaza Strip kill at least 31 as international scholars accuse Israel of genocide
- Recto: No exemption for US tech firms from digital tax
- UK police arrest hundreds in latest Palestine Action demo
- 'God's Influencer' to become first millennial saint
- Trump moves to cut more foreign aid, risking shutdown
- Sotto willing to testify in Senate probe of flood control anomalies if summoned
- Filipino weightlifter Vanessa Sarno banned for 2 years for anti-doping violation
- Makati distributes Blu Card cash aid
